THE PERFECT WORLD

[luckyleftyme2]

THIS WOULD BE THE DEFINITION OF THE PERFECT BUSINESS WORLD:
G.E.’s Strategies Let It Avoid Taxes Altogether
By DAVID KOCIENIEWSKI
Published: March 24, 2011



The company reported worldwide profits of $14.2 billion, and said $5.1 billion of the total came from its operations in the United States.

Its American tax bill? None. In fact, G.E. claimed a tax benefit of $3.2 billion.

That may be hard to fathom for the millions of American business owners and households now preparing their own returns, but low taxes are nothing new for G.E. The company has been cutting the percentage of its American profits paid to the Internal Revenue Service for years, resulting in a far lower rate than at most multinational companies.

Its extraordinary success is based on an aggressive strategy that mixes fierce lobbying for tax breaks and innovative accounting that enables it to concentrate its profits offshore. G.E.’s giant tax department, led by a bow-tied former Treasury official named John Samuels, is often referred to as the world’s best tax law firm. Indeed, the company’s slogan “Imagination at Work” fits this department well. The team includes former officials not just from the Treasury, but also from the I.R.S. and virtually all the tax-writing committees in Congress.

Read more: http://www.nytimes.com/2011/03/25/business/economy/25ta...

IN THE PAST 20 YEARS OR SO BUSINESS HAS LOWERED ITS TAX RATES BY 20 -40% WHO DO YOU THINK IS PICKING UP THE TAB? YA GOT IT JOHN Q WORKING MAN!
WAKE UP AMERICA THE FOUNDING FATHERS HAD SAFE GUARDS THAT HAVE BEEN ERODED BY THE BIG MONEY BOYS! THEY THINK YOUR SUPPOSE TO RUN THEIR BUSINESSES FOR THEM PAY THEIR TAXES AND BE SATISFIED TO BE IN DEBT ALL YOUR LIFE! THEY LIKE TO QUOTE THE BIBLE(WELL EVEN IN BIBLICAL TIMES SOME OF THE POOR DID THE DIRTY WORK FOR THE RICH-NOW A DAYS THEY CALL THEM YES MEN!)

[luckyleftyme2]

1. ONE MORE THING

THE COMBINED DEBT OF THE ENTIRE CONTINENTAL STATES =170 BILLION DOLLARS;IT COSTS 180 BILLION DOLLARS A YEAR TO MAINTAIN THE TWO WARS WE ARE IN! THATS NOT COUNTING THE BLOOD OF OUR SERVICEMEN!
HOW MANY OTHER CORPORATIONS IN THE TOP 500 CLUB ARE NOT PAYING A FAIR SHARE OF THEIR PROFITS? WHO WRITES THESE LAWS? WHY CAN'T THE WORKER ,THE YOUNG PROFESSIONAL OR THE STARTING BUSINESS MAN GET THESE BREAKS? HOW ABOUT AN ABATEMENT ON ALL TAXES WHILE YOU HAVE A CHILD IN COLLEGE! HOW ABOUT AN ABATEMENT ON ALL SERVICEMEN AND THEIR SPOUSES ON TAXES WHILE THEY ARE IN A COMBAT ZONE!HOW ABOUT NO PROPERTY TAXES ON YOUR FIRST HOME FOR THE FIRST THREE YEARS! I MEAN THE AVERAGE MORTGAGE IS 30 YEARS OR BETTER AND THE TOWN WILL COLLECT FOR 80 YEARS OR SO!
NO THE REPUKE DOESN'T THINK LIKE THIS-HE WANTS IT ALL FOR FREE OR AT LEAST YOU PAY THE LIONS SHARE=LOW WAGES,POOR BENEFITS AND NO RETIREMENT OR HEALTH CARE !