Some "evil corporations" are more equal than others in liberal land.
By: Ed Farnan | Published Monday, March 28, 2011, 9:05 PM | Updated Friday, September 9, 2011, 10:09 PM
Despite $14.2 billion in worldwide profits - including more than $5 billion from U.S. operations -
GE did not pay a dime in taxes in 2010. Obama said: "Those with accountants or lawyers to work the system can end up paying no taxes at all. It makes no sense. It has to change." But in typical Obama fashion of saying one thing and doing the exact opposite, in January Obama named General Electric CEO Jeffrey Immelt to head the President's economic advisory board focused on job creation. In 2 years Jeff Immelt has laid off over 20,000 GE workers in the US and closed it's light bulb manufacturing operations in the U.S. All GE light bulbs (federally mandated) will now be manufactured in China. Last year Immelt was paid over 21 million.
Now Obama has put Immelt in charge of job creation in the US. This is a guy who has demonstrated his ability to cut jobs, not create them.
We are waiting to hear the outcry, marches in the streets, anarchists lighting torches condemning evil rich corporations....I am listening, but not a peep.
Just like in George Orwells Animal Farm, where all animals are equal, although some animals are "more equal" than others. It appears we have that same double standard when it comes to the left wing. The condemnation & mantra of greedy corporations not paying their "fair share", goes silent when it is one of their own greedy corporations.
In the meantime, in Illinois, one of the states largest private sector employers, with over 23,000 employees, is considering leaving the state. It’s been a tough year for Caterpillar Tractor. First they found out that Obamacare would cost them $100 million in one quarter. Then earlier this year the liberal Illinois governor raised taxes on Illinois businesses including Caterpillar. Are Caterpillar tractors going to have the "made in China" logo on them too?
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Switch to the desktop site to post a comment.RedBranch | Mar 30, 2011, 03:48 PM EDT
Here Kitty Kitty come to Ireland, 12.5% 'Co-operation' tax and all the labour you need. You would be one fat Cat we would welcome.
maloney | Mar 30, 2011, 01:23 PM EDT
morninghours...just another lying, pie in the sky, forget the facts, just listen to my lies, liberal idiot.
Morninghours | Mar 29, 2011, 11:06 PM EDT
Quid pro quo? MSNBC had a liberal evening lineup long before Obama got into office. In fact, GWBush and his nose-diving approval rating had more to do with it than Obama did. And while the MSNBC evening shows are liberal, they certainly haven’t been reliable Obama boosters, as they’ve been blasting him for not fighting for the health care public option, for putting more troops in Afghanistan, and, yes, for giving big corps those stimulus contracts and Immelt the chairman seat on the jobs and competitiveness board. If those aren’t proof enough that the idea of a “quid pro quo” deal is silly, an even more important fact is that GE isn’t even the majority owner of NBC/CNBC/MSNBC anymore. Comcast is. Though just finalized a few months ago, that deal has been in the works for over a year and came as a surprise to no one, certainly not a president allegedly hatching a “quid pro quo” scheme. By the way, yes, GE CEO Immelt is a Republican, so says a Jan. 21 article in “National Journal.” It says: “Immelt, a Republican, donated to both Hillary Clinton and John McCain during the last presidential cycle, but not President Obama.”
Monsoonman | Mar 28, 2011, 10:20 PM EDT
So you consider the billions in "stimulus" and the other billions given to GE for green energy, just a trifle and not a quid pro quo, especially seeing the networks? Heaven knows Fox gets nothing from the government but GE/and its media sure as heck do. Most sensible people see right through that kabuki dance and look at immelts pittance given to repubs as just that a pittance when it compares to billions.
Morninghours | Mar 28, 2011, 09:47 PM EDT
So now the claim is that Obama and Democrats made "investments" in "GE/NBC/MSNBC"? Earlier the claim was that GE and its subsidiaries were contributing to the Dems... which is it? Either way, any such claim is laughable, considering the $1 million donation made last year to the GOP by News Corp, the parent company of FOX NEWS, the news channel that gives entire programs to likely GOP candidates Palin and Huckabee. Where is the conservative outrage when it comes to this "Lacky" relationship?
JosephOCasey | Mar 28, 2011, 08:50 PM EDT
GE is the face of corporate evil in the world. They are the most despised company in the US for sure. They backed Obama to the hilt because it benefitted their investment in green propaganda. Not only did GE not pay any taxes, they were given billions in Obama's jobless stimulus. Of course now Jeffy Immelt is on the Bamster's job creation committee. It never ceases to amaze me how the left actually does what they (mostly inaccurately) accuse the right of doing.
maloney | Mar 28, 2011, 07:56 PM EDT
The CEO's and corps. give to both sides as it takes a majority to get what you want. Lobbies push their agendas and spread the money both ways to get what they want. GE and it's CEO are obama lackies. The whole bunch are taking America on the fast track to h*ll. The libs better catch on quick before obama takes it over the edge. The dems and liberals are right in that obama seems to do things not to their liking. He's not worried about you or America. It's about destroying America from every direction, pitting both sides against each other. In the meantime he will bankrupt America and destroy the military and business sector, what little is left. Obama is more radical than both political parties at their worst. The right better get in touch with the fact that obama is not a democrat, he is much worse. and the left must move against their fearless leader. So much damage has been done to date that it may be to late to fix what the enemies of America have wrought. They are your elected officials. Then you have the dumb arses like dennisq who will never figure any of it out.
Monsoonman | Mar 28, 2011, 07:45 PM EDT
Oh I think Obama and the democrats have gotten value from their "investments" in GE/NBC/MSNBC...I'll avg. if dems/obama had to pay for airtime NBC MSNBC shilled for them avg. 2 hrs.per day, 7 days a week, 365 days a year, just at a paltry 100K per minute=4 billion "free advertising for the dems. Now how much did you say immelt donated to the repubs?
Morninghours | Mar 28, 2011, 01:53 PM EDT
Monsoonman: While there may well be GE or subsidiary employees who contribute to Democrats, they aren't the ones who make decisions about sending GE jobs overseas or not paying taxes, which is what this colummn is about. Those decisions are made by GE CEO Immelt (who does give big bucks to GOP candidates) and other board members. Another important point overlooked in this discussion is the fact that GE isn't the only big corporation that doesn't pay federal income taxes. In fact, two-thirds of U.S. corporations do NOT! (Google "Most Companies Pay No Federal Income Tax.") I won't hold my breath until conservatives begin whining about that situation.
Fran Connor | Mar 28, 2011, 10:21 AM EDT
Hey jamthecat - dress warmly!
seagreen | Mar 28, 2011, 09:51 AM EDT
Thanks for bringing this to light
Monsoonman | Mar 28, 2011, 12:51 AM EDT
You would think immelt is a neocon conservative by your post, but lets put in the rest of the equation of political contributions from ge and all of its subsidiaries, it's employees, then the 24/7 propaganda machine of nbc/msnbc for the dems and you will see whatever immelt donates personally to the repubs, is miniscule.
Morninghours | Mar 27, 2011, 11:56 PM EDT
Public records of Immelt's political contributions would suggest he's a Republican. Like most big business guys, he gave some cash to both parties just to hedge his bets, but the amount he gave to GOP candidates was vastly larger. (Google "Immelt Contributions" for details.) So, not only is Immelt not a Liberal, he's not even a Democrat.
Carolynirish | Mar 27, 2011, 10:31 PM EDT
Congress passed it, not Bush. G.E. has chosen China because of the cheep labor. They pay no taxes because they know how to use the system.
clancy4unc | Mar 27, 2011, 08:32 PM EDT
You mean the pure-hearted, smarter than everyone else, those that know what we need better than we know what we need, you mean those that want to take everyone's money and spend it on worthless programs and line their pockets, surely you don't mean the liberals, I mean, heck, they know better than even God and they are never wrong, and they never, ever, ever lie, and they don't "really" want big governmental control. Surely you jest, these liberals should be bowed down to and their feet kissed. Aren't they kind and only think of others, and most of them don't have personal jets, while telling everyone else to ride bikes. Come on, you're kidding right? Hey Ireland, we'll send you all of our liberal politicians for free, but be very careful, they want ALL of YOUR money.
feeneycj | Mar 27, 2011, 06:49 PM EDT
and General Motors tanked, yet the unions are still strong. They got billions of dollars from the helpless taxpayers. Obama needs to think "jobs in the U.S."
Monsoonman | Mar 27, 2011, 05:45 PM EDT
I see Caterpillar facing THE economic reality. Burdened with high taxes, fees, obamacare expenses, ridiculous green regulations (for global warming), which it's national and international competitors don't have to contend with. Besides the 23,000 American/Illinois jobs at stake, there are the investors in Caterpillar( your pension funds) who rely on a return on their investment(profit) so they can make your retirement & benefit checks good. Or is this just another burden to be put on the rest of the citizens? So just what do you want Cat to do? There are many heavy equipment manufacturers around the world who make very good products...for less than Cat.
tootsieok | Mar 27, 2011, 03:55 PM EDT
I find this really stimulating - get them out of the country - the people get together they have the knowledge, the buildings, the vendors/suppliers, possible government funding - start a new company... Where is the back bone... sure it will be difficult, maybe for once people will pull together and help make it happen.... pitch in..... When will the people be tired of bending over and taking it.... and they speak of bulling at school... rest my case....they do not stand up for themselves...
luckysusan | Mar 27, 2011, 03:15 PM EDT
Caterpillar's threats are shameful. Millions and millions have been made, profits are strong. They can well afford to pay their share of state taxes and still be hugely profitable. Have they no sense of responsibility and community to the people who have made them what they are?
hancock | Mar 27, 2011, 02:23 PM EDT
The empty suit.
BurrRobson | Mar 27, 2011, 01:30 PM EDT
I am shocked at how many people replied here and missed the total point of the article. Duh, it's not about light bulbs. It's about being a bunch of hypocrites. And most of the posters here sound exactly like the type of sheep who will follow this country over the hill and down the cliff. We are not a democracy; and we are on the way to being a full nanny state. And Obama and Reed and Pelosi are liars and hypocrites. Know who the richest lawmakers are by far? The democrats. Want to see a good example of a liberal crook? Look at Earl Blumenhauer from Oregon. The man has never had a real job; all his life he's sucked off the teets of the taxpayers, and no in Congress he is a multi-millionaire. And we poor 'little people' cannot even choose what light bulbs to buy. Did you know the amount of carbon footprint created by the amount of plastic sacks one person would use in a lifetime is LESS than the carbon footprint of one trip to Ireland. Yes, one trip. We are not saving the planet. We are being socially engineered. And the Dems and liberals and Repubs and Conservatives alike are the first in line to be brain dead followers. The point of this article, folks, is that the dems and libs are crooks, too. Obama has sold out so he can experience being king for a day. And he's a lousy king.
Morninghours | Mar 27, 2011, 01:23 PM EDT
@ jdi2269: Conservatives ignore liberals' displeasure with Obama's pick of Immelt! jamthecat is correct: Liberal websites like Huffington Post and Democratic Underground ranted about this pick from Day One. Some even pointed to the coincidence of Keith Olbermann's departure from MSNBC at the same time of Immelt's selection. Sorry if the facts don't fit the Faux News storyline, but many liberals see the Immelt pick as another Obama capitulation to the GOP corporatists. He really needs to get over his dream of bipartisanship.
Monsoonman | Mar 27, 2011, 01:08 PM EDT
So here's the pachyderm in the living room you conveniently overlook: Obama, reed and pelosi had super majorities for the past 2 years and could right any perceived wrong: They didn't. Furthermore for 4 years before that the liberals had control of the house and senate and basically shoved green legislation down the throats of America...So much for your ideological misrepresentations..lol!
tundish45 | Mar 27, 2011, 12:56 PM EDT
So here's another in a long line of ideologically driven misrepresentations from the Winking Right. The light bulb thing is the result of a regulation passed during the Bush Administration. The outcome will be substantial energy and materials savings for all Americans. Second slippery factor, there is no mandate for Chinese manufacturing. If they get the job, it is the working of sacred (unregulated) capitalism. Third slippery, the Governor of Illinois cannot and did not change the tax rate, the bipartisan legislature did.
jdi2269 | Mar 27, 2011, 12:28 PM EDT
LIBERALS IGNORE OBAMA'S CORRUPT PRACTICES!
Monsoonman | Mar 27, 2011, 12:24 PM EDT
GE also owned NBC/MSNBC, the virtual mouthpiece of the obama administration. Even chris matthews said his job was to make Obama a success. With the cast of thousands of useful idiots, including Rachel Maddow& Ed Schultz..Shaping and filtering ALL the information that America gets....Beware of the government main stream media alliance.
jamthecat | Mar 27, 2011, 11:28 AM EDT
If you don't hear it, you're not paying attention. A number of liberal blogs have begun ranting about this, now that we know what GE pulled. As for Caterpillar, them using federal tax breaks to ship good-paying US jobs over to a country where $1 an hour is considered middle class is obscene, but I don't see you or any of these supposedly business-friendly supporters railing about that. And Obama is NOT a Liberal. I don't care how many times you and your ilk say it, that does not make it so. I AM a liberal and his administration has consistently spit in my face to appease the GOP. I will support any progressive Democrat who runs against him, because he has proven to be nothing more than a Republican in Democrat's clothing. And if he still gets the nomination, I will apply for citizenship to Canada, because it will mean that Democracy this country is dead.
haasny007 | Mar 27, 2011, 11:21 AM EDT
And your point is exactly what? Should Obama levy a special tax on GE? Close those loopholes just for GE? That's how the cookie crumbles, dude. Like most decent people in this country, Obama is not happy with GE not paying a dime in taxes on its multi-billion $ profits. He just rolling with the punches. He even went along with Republicans' insistence that the Bush tax cuts are extended for millionaires and billionaires, while the federal deficit is soaring. Accepting the Republicans' blackmailing was the only way for him to get anything done in Washington. No matter how badly Republicans screw the middle class there will always be enough idiots to vote for them and allow them to further sink the middle class.
joanxis | Mar 27, 2011, 11:21 AM EDT
I think it is shameful for any huge corporation - including GE - to get away with not paying taxes.
DennisQ | Mar 27, 2011, 04:43 AM EDT
Surprise, surprise. Corporations are not under attack by their own employees. Wonder of wonders! I think it goes under the heading of not biting the hand that feeds you.
Next up - Fox News' employees are loyal to Fox! Who'd a thunk it??
hancock | Mar 27, 2011, 01:46 AM EDT
Dennis you are a blah.
DennisQ | Mar 26, 2011, 08:00 PM EDT
I hope you don't really believe that Maddow, Matthews, and Schultz, employees of General Electric, are leftists in any real sense. True, their political leanings are to the left of Bill O'Reilly and Sean Hannity, but so is most of the world.
Truth is that NBC is a wholly-owned subsidiary of a corporation that is a major defense contractor. If you are arguing that these people do as their bosses dictate, that's not much of a revelation. Most of the world does what their bosses tell them to do; otherwise their careers go nowhere.
hancock | Mar 26, 2011, 03:43 PM EDT
I hear crickets.