This was just marvelous watching some elitist get skewered by Sen. Ran Paul over low-flow toilets, mercury-filled light bulbs and free choice: http://www.youtube.com/watch?v=FAn1FWInBi0&feature=player_embedded
John Stossel: Some Americans actually make a living … begging for money. Professional panhandlers, they’re called, sometimes making more than $100 in a day. I tried it in Manhattan, and made over $11 in one hour—that would be $23,000 a year—tax free!
It’s a small example of why some said that the USA is turning into a nation of freeloaders. The Manhattan Institute’s Heather MacDonald says that beggars she’s encountered “have the most deep-seated sense of entitlement that I’ve ever come across.”
From those defaulting on their home mortgages, to those who see lawsuits as a lottery ticket, many Americans live off the hard work of others.
Which is why I am a “heartless” right-winger when I ignore them on the streets.
Then there are Million and Billion Dollar Liberals or Government Apparatchiks. Like “Job Creation Czar” Jeffrey Immelt.
General Electric CEO Jeffrey R. Immelt is super-close to President Obama. The president named Immelt chairman of his Council on Jobs and Competitiveness. Before that, Immelt was on Obama’s Economic Recovery Advisory Board. He’s a regular companion when Obama travels abroad to hawk American exports.
GE, run by Immelt, just made Billion Dollars in the US, tax free. Why?
They paid no taxes at all!
2010 was the second year in a row that GE recorded billions in profits and paid no taxes.
The company, led by Immelt, earned $14.2 billion in profits in 2010, but it paid not a penny in taxes because the bulk of those profits, some $9 billion, were offshore. In fact, GE got a $3.2 billion tax benefits.
In a statement, General Electric said that it “pays what it owes under the law and is scrupulous about its compliance with tax obligations in all jurisdictions.” The company claims that its zero-dollar tax bill is largely a result of losses at its financial arm, GE Capital, due to the Wall Street meltdown. (ABCNews)
“So for GE, in many ways the environmental movement has turned out to be profitable for our investors,” Immelt said Thursday night at a fundraiser at the College of Charleston. (P&C)
But I guarantee very little ire towards an ally from the Press and the Class Warfare Liberals.
They gamed the system and freeloaded. Just like the begger on the corner.
After all, they are “entitled”.
But the class warfare liberal will rail against “corporate” america and CEO’s and how evil “rich” people are.
They’ll rail endlessly about Exxon, but not GE.
Exxon is EVIL! 😡
Today, White House spokesman Jay Carney said that the president is “bothered” by the idea that a U.S. company could pay no taxes, but he wouldn’t talk about GE specifically. Carney was also quick to say that Immelt’s council advises the president on job growth and not on tax policy.
“It is part of the problem of the corporate tax structure that companies hire, you know, armies of tax lawyers to understand how it works and to take advantage of the various loopholes that exist, that are legal in order to reduce their tax burden,” Carney said.
When President Obama announced his decision to appoint Immelt to the unpaid advisory role on job creation in January, some critics wondered whether the move was appropriate. Under his leadership, GE laid off 21,000 American workers and closed 20 factories between 2007 and 2009. More than half of GE’s workforce is now outside the United States. (ABC News)
Overall, the Times notes, the share of U.S. taxes paid by corporations has fallen from 30 percent of federal revenue in the 1950s to 6.6 percent in 2009. (CBS)
And guess who has to make up for it? 🙂
But he’s a Buds with the Prez ( Lobbyist!), and they will cover for him.
“Over the years, a parade of lobbyists has rigged the tax code to benefit particular companies and industries,” he said. “Those with accountants or lawyers to work the system can end up paying no taxes at all. But all the rest are hit with one of the highest corporate tax rates in the world. It makes no sense. It has to change.”–President Obama in yet another I said it but I sure as hell never actually meant it or believed it, but damn it sounded good moment last January.
Carney was asked why, if the president wants corporate tax reform, he appointed “to the head of the Competitiveness and Jobs Council a person who is now the poster child for abusing the system to get out of paying taxes.”
“The jobs and competitiveness council is designed for just that,” Carney responded. “And he has brought together a lot of voices on that. And he wants to hear the opinions of every member of that council. And we have said, with regard to questions about other members who have been appointed, that the president obviously doesn’t want a council of people who agree with him on every issue; he wants to hear diversity of opinion.” (CBSNews)
Face it. He’s buds with the Prez. They both have a “Green” agenda. Immelt’s is just greenbacks!
The Prez gives Billions for Brazil to drill for oil to benefit Billionaire Socialist George Soros but has a virtual moratorium in this country.
George Soros is likely the #1 Democrat $$$ contributor.
Money Leads to Power and more Power leads to More Money.
Just look at the Public Sector Unions!
But don’t worry, THEY ARE ENTITLED. 🙂
Everyone is entitled (except “racist” white male Europeans that is).
It’s just matter of much entitlement you feel and how much you can grab. 🙂