Why your country doesn’t work anymore

We enable this with our silence. From Wonkette:

This is going to get repetitive, we’re afraid, but every aspect of the “financial crisis” in the United States is due to corporations not paying taxes and the very richest .01% individuals not paying taxes. That’s it, that’s the whole thing — your crumbling schools, your sinkhole highways, your abandoned state parks, the laid-off city maintenance worker . . . everything. General Electric, America’s largest corporation and the second-biggest company on Earth, simply does not pay any taxes at all. You try that!  . . .

With a massive internal tax-evasion department headed by a former Treasury official and staffed with former IRS agents, G.E. is simply the best at what has become common practice for the monstrous mega-corporations that control every aspect of policy and “politics.” A half century ago, corporations paid 30% of America’s total taxes. Now it’s down to 6.6%.

And still, they whine ceaselessly about how they can barely afford to do business in America, what with the crushing burden of 6.6% taxes.

From the original story in The New York Times:

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.

21 responses to “Why your country doesn’t work anymore

  1. I can’t get my brain around how screwed up our tax codes are. My teeth hurt every time I see confirmation.

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    • One of the reasons I find myself occassionally rooting for people I’d otherwise disagree with on EVERYTHING – when they call for simplification of the tax code they get my attention.

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  2. According to Robert Reich’s blog, “The New York Times reports that G.E. marketed the Mark 1 boiling water reactors, used in TEPCO’s Fukushima Daiichi plant, as cheaper to build than other reactors because they used a comparatively smaller and less expensive containment structure.”

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  3. It breaks my heart to know that our democracy is quickly transforming into an oligarchy, if it isn’t there already.

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  4. this is why all the republicans around the country want to lower taxes to corporations make total sense huh

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  5. Read this morning’s post on the same subject (actually on Bob Herbert’s column on the same subject).

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  6. This IS messed Up!

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  7. Okay – please help me understand – anybody!?! This doesn’t make sense even if you are a Republican unless you are Super Rich Republican or a GE employee at any level…???…So will History then repeat itself and we are destined to go “down” like the Romans? I want to know how these people sleep at night. Any One? Any One?

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    • They sleep just fine Liz, cuz things are working out just the way they want them to. These huge corporations have no allegiance to any nation any more.

      The worst part of this is that the ones who are screwing us have tens of millions of regular people duped into supporting their right to do so!

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  8. This GE bashing has to stop . They have been the most anti Republican , pro Democratic Party of the mega corps . You guys just do not appreciate what you have in your corner .

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  9. GE kept Olbermann on it’s MSNBC payroll for years . In fact GE should get an eternal pass from liberals just for the good work MSNBC did . Then there is all the harvesting GE did of taxpayer subsidies for it’s green divisions .

    Did I mention the corporate welfare GE got when it turned GE Capital into a freaking bank to get rescue funds . Yes GE really backed the winners of elections in 2008 . And you bash them, you ungrateful progressives .

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    • Alan, you will insist on harping on a small corner of GE’s universe. They’re pond scum in my book. I don’t like anything about them.

      So they own NBC. They own hundreds of companies. And Disney used to own ABC. And whoever owns CBS probably owns the rest of the world. And of course, Rupert owns NewsCorp and they not only own FOX but something close to 40% of English language media.

      And none of them – none of them – are committed to anything other than the bottom line. Dream on thinking it’s ideological. It’s not, my friend. It’s entertainment. It’s bread and circuses. Because there is money to be made.

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  10. Ms. Holland ,

    Earth to you . Jeff Immelt IS GE. Immelt is Obama’s buddy. He heads Obama’s board of outside economic advisors . They call it crony capitalism and your side is guilty . You’re right . There is money to be made and your buddies are making it .

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    • I’m trying to find in this post and/or comment thread where anyone said anything about Obama. Obama is a player just like Immelt and the rest of the crony capitalists, something we’re all familiar with and something that has no partisanship and knows no natioanl borders.

      What we have today is an old American political tradition on steroids.

      You’re not presenting any kind of argument Alan, you’re disagreeing with a past post ghost or something. Join the covnersation – it’s not about Obama, it’s about the corporate rape of our country.

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