I agreeto Idea Stop Giving Tax Breaks to Multi-Billion Companies
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Stop Giving Tax Breaks to Multi-Billion Companies

GE made $26B last year. Yes, $26 Billion dollars!!!! And paid ZERO TAX!!!

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Submitted by Community Member 2 years ago

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  1. Community Member

    According to Google Finance, GE's income before tax was 14.2B (for the year ended 12/31/10), while their income after tax was 13.1B - so that's 1.1B dollars. Also, they did employ 287,000 employees - all of whom were taxed to pay our salaries. We must remember that America needs to be a place that fosters innovation and business. A successful private sector will ultimately benefit all - conversely, if the economy is in the tank, we get no COLA... Gov't succeeds only because it's country's businesses succeed - not the other way around. Take a look at Cuba and Russia, who would likely have taken control of GE decades ago. Also GE and others likely make up part of your TSP.

    2 years ago
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  2. Community Member

    Great comments above. GE did not get a tax "break", they followed the current US tax code. So maybe you should be saying fix the US tax code. But that should not only be for companies, but also for those millions of Americans that do not pay tax, and still get a refund, called the Earned Income Credit. Just another form of welfare, just with a new name.

    2 years ago
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