GE's average effective tax rate for the last three years was 20.9%. Raise your hand if that was news to you *raises hand*.
Anyone can check for themselves on page 81:
http://www.sec.gov/Archives/edgar/data/ … 9/d10k.htm
I'm just waiting for the libs/commies to say it should have been higher.
Yeah, never mind that they also paid 10% in foreign taxes.
We could tax all corporations at 100%, as well as the top 1%, and not balance our budget.
Higher taxes hurt the economy. Look at Sweden. Super-high taxes and they were in trouble. They lowered taxes and started doing better.
Nobody should have to pay 50% of their income to the government, especially not to one as irresponsible as our own.
Please...if you get 28 million a year...you can give half.
And the laws that enable GE to do this need to be changed....this didn't "just happen" yesterday you know....it has been written in to our laws to allow it to happen. That needs to change.
You can, but should you have to?
What is fair about rich people paying a higher percentage. The top 1% already pays a percentage 13 times higher than the bottom 50%. Isn't that enough?
We don't need to tax that high, we don't need to spend as much as we do, and it will hurt our economy.
The laws that enable GE to do what?
The rich..the very very rich have gotten the lion share of the bennies from gvt the last 30 years. We the people have been ignored in exchange.
Our infrastructure in some states is in 1950's mode.
We should have high-speed rail like the rest of the world..we should be #1 in education...we need money spent on America! NOT hoarded in private bank accounts...
They have all the wealth thanks to gvt...they can give it back thanks to gvt too.
GE...didn't they pay NO taxes at all? Didn't they get money back? All thanks to loop-holes and obscure laws.
What 'bennies'? The fact that the bottom 50% of Americans pay 1.8% income tax, and the top 1% pay 24%?
The fact that the bottom 10-20% of Americans actually pay a negative income tax, and get money back?
The money you claim is hoarded in private bank accounts is mostly in investments. Investments that REAL PEOPLE use to start, continue, expand businesses, and survive in hard times. It does help the economy.
Part of the reason our infrastructure is behind some others has to do with population density. Another reason is we spend so much money on wars and wasteful programs that are failing. We should spend money on America, but we shouldn't rob Americans to do it.
No, GE paid taxes. 20.9% average for the last 3 years. That's a higher percentage than the 2% pay.
Higher taxes does not hurt the economy. After the depression the tax rate was about 10% higher and the United States entered a period of extreme prosperity.
400 U.S. citizens have as much wealth as 150 million other Americans.
To me, that's all that needs to be said.
Leave it to a liberal to just change topics whenever facts come up.
Whether or not that figure is correct, it has more to do with the lifestyle of the average American than anything else. With the availability of credit, the 'net worth' of the average American has dropped drastically. Many middle-class/upper-middle-class people have very little net wealth due to debt.
That's a problem of how we live our lives. Everyone buys a house without thinking 'what if I lose my job, or get sick, or anything else'. Everything is bought on credit. Talk to the older generations before their gone, and you can learn a lot of financial responsibility.
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