Saturday, March 26, 2011
Think the SEIU and ACORN will Protest?
Don't hold your breath....
Amplify’d from www.theblaze.com
Business Guess Which Company Paid $0 in Taxes (on $14.2 Billion in Profits)? Hint: Its CEO Works for Obama
Half of all Americans don’t pay federal taxes on their income. And neither, apparently, does General Electric, the multi-national company that reaped $14.2 billion in profits last year. Though G.E. is the largest corporation in the U.S., it did not have to pay a dime in U.S. taxes, according to the New York Times. In fact, the company claimed $3.2 billion in tax benefits.
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.
According to the Times, “one of the most striking advantages of General Electric is its ability to lobby for, win and take advantage of tax breaks.”
These tax breaks are incredibly important to G.E.–so important that G.E.’s head tax man got down on his knees and begged Rep. Charles Rangel to let a particularly lucrative one extend past its expiration date in 2008:
The head of its tax team, Mr. Samuels, met with Representative Charles B. Rangel, then chairman of the Ways and Means Committee, which would decide the fate of the tax break. As he sat with the committee’s staff members outside Mr. Rangel’s office, Mr. Samuels dropped to his knee and pretended to beg for the provision to be extended — a flourish made in jest, he said through a spokeswoman.
In an interesting sub-section of the article, the Times claims that G.E.‘s tax strategy flies in the face of Ronald Reagan’s legacy:
In the mid-1980s, President Ronald Reagan overhauled the tax system after learning that G.E. — a company for which he had once worked as a commercial pitchman — was among dozens of corporations that had used accounting gamesmanship to avoid paying any taxes.
“I didn’t realize things had gotten that far out of line,” Mr. Reagan told the Treasury secretary, Donald T. Regan, according to Mr. Regan’s 1988 memoir. The president supported a change that closed loopholes and required G.E. to pay a far higher effective rate, up to 32.5 percent.
That pendulum began to swing back in the late 1990s. G.E. and other financial services firms won a change in tax law that would allow multinationals to avoid taxes on some kinds of banking and insurance income. The change meant that if G.E. financed the sale of a jet engine or generator in Ireland, for example, the company would no longer have to pay American tax on the interest income as long as the profits remained offshore.
President Obama recently tapped G.E. CEO Jeffrey Immelt as his liaison to the business world. Immelt also serves as the chair of the President’ Council on Jobs and Competitiveness. The story is that Immelt and Obama may discuss reforming the corporate tax code–not that Immelt has any incentive to!
See this Amp at http://amplify.com/u/bwky1
Friday, March 25, 2011
Can You Say UNIONS?
Rt 347 in Hauppauge is having a makeover. 1 mile of road will take over 8 months to complete. Unions are a joke!
Amplify’d from www.autoblog.com
Japanese repair quake-ravaged road in just six days
As a result of the quake, a 150-meter section of the Great Kanto Highway in Naka was absolutely obliterated, with massive chasms running right through the middle of the road. Work crews at the NEXCO road repair company sprang into action on March 17, working at a fevered pitch to help get their country on the road to recovery, literally. Amazingly, after only six days of labor, the road is silky smooth and ready for travel. Look at the the before and after photos above to see just how amazing this feat is.
Given the fact that road crews in the U.S. can spend three or more months repairing a single lane of concrete, only to leave the orange barrels on the road for another two weeks, we're blown away by this feat of engineering. Simply amazing.
See this Amp at http://amplify.com/u/bwjf6
Thursday, March 24, 2011
Israeli Family Massacred- U.S Silence.
Our country is being run by the worst joke ever pulled in the history of jokes...
Amplify’d from www.therightscoop.com
Palestinian Islamo-Nazis slaughtered a family of Israeli settlers and their children, slitting their throats while asleep. The children included an eleven year old boy, a four year old boy, and a three month old girl:
Gaza residents from the southern city of Rafah hit the streets Saturday to celebrate the terror attack in the West Bank settlement of Itamar where five family members were murdered in their sleep, including three children.
Residents handed out candy and sweets, one resident saying the joy “is a natural response to the harm settlers inflict on the Palestinian residents in the West Bank.”
Meanwhile, Netanyahu calls for the international community to stop with their hypocrisy and condemn these attacks:
See this Amp at http://amplify.com/u/bwi5x
Israel Under Attack
and not a word about it on news in this counrty. Pray for Israel.
Amplify’d from news.xinhuanet.com
Rocket strikes paralyze part of Israel
See this Amp at http://amplify.com/u/bwi4z
Another reason to move to Texas.
Amplify’d from www.ksat.com
Voter ID Bill Passes Texas House
Legislation Cleared House 101-48 Wednesday Night
Related Stories:
Local Taxpayers May Bear Cost Of Voter ID BillCopyright 2011 by The Associated Press.
All rights reserved.
This material may not be published,
broadcast, rewritten or redistributed.
See this Amp at http://amplify.com/u/bwg7e
Well, this is a god start.
The perfect metaphor for this administration. Now if we can just keep him out...
Amplify’d from thehill.com
Obama locked out of Oval Office
President Obama had some unexpected trouble at the White House on Wednesday: He couldn't get into the Oval Office.
After returning from a five-day trip to Latin America, President Obama returned to the White House to find that some of the doors to the Oval Office were locked tight.
Staff at the White House appeared not to have known that the the president had returned early from his trip and hadn't unlocked the doors, according to an ABC News affiliate in Washington.
Obama handled the setback coolly, however, and simply tried another pair of doors, which were unlocked.
Watch the video below:
See this Amp at http://amplify.com/u/bwg6o
Well, this is a god start.
The perfect metaphor for this administration. Now if we can just keep him out...
Amplify’d from thehill.com
Obama locked out of Oval Office
President Obama had some unexpected trouble at the White House on Wednesday: He couldn't get into the Oval Office.
After returning from a five-day trip to Latin America, President Obama returned to the White House to find that some of the doors to the Oval Office were locked tight.
Staff at the White House appeared not to have known that the the president had returned early from his trip and hadn't unlocked the doors, according to an ABC News affiliate in Washington.
Obama handled the setback coolly, however, and simply tried another pair of doors, which were unlocked.
Watch the video below:
See this Amp at http://amplify.com/u/bwg6o
Tuesday, March 22, 2011
Economic Terrorists Plans...
Can you say "Unions"?
Amplify’d from www.youtube.com
The Left's Economic Terrorism Playbook: Coalition too Destroy US Capitalism and Redistribute Wealth
Revealed The Left's Economic Terrorism Playbook: The Chase Campaign for a Coalition of Unions, Community Groups, Lawmakers and Students to Take Down US Capitalism and Redistribute Wealth & Power
See this Amp at http://amplify.com/u/bvwjt
Monday, March 21, 2011
Hey Ladies, Get Your Burka's Ready!
Who Said "Islamic Law" would never come here? Silly Rabbit.... This is from FLORIDA!
Amplify’d from www.jihadwatch.org
See this Amp at http://amplify.com/u/bvnpb
Subscribe to:
Posts (Atom)