Forum Post: GE pays $0 in taxes and is Occupying the White House?!! Yep!
Posted 13 years ago on Nov. 3, 2011, 11:27 a.m. EST by Sellerman
(139)
This content is user submitted and not an official statement
And not a comment by anyone? Really?! $139,000,000,000 in bailout money, $0 taxes and record profits, and nothing?!
Imagine, if you will, GW Bush had Jeffrey Immelt in his White House, what would you say then?!
Freakin' GE is the devil, Demo or Rep, I don't care!!!! Where's the outrage?!
The most profitable industries in the world (energy, healthcare, finance) have been given billions in government handouts and tax breaks. Meanwhile, they keep raising charges causing hardship for millions. With all those massive handouts, tax breaks, and obscene charges, profits rise to record high levels. Millions in bonuses are paid to the executives. With record high profits, record high dividends are paid. 40% of all dividends in the United States are paid to the richest one percent. The bottom 90 percent of Americans share about 10 percent (that's ten percent) of all dividends. The rest are paid to the top 5 percent and foreign investors. All of this causes a gradual concentration of wealth and income. This results in a net loss for the lower majority who find it more and more difficult to cover the record high cost of living, which again, is directly proportional to record high profits for the rich. As more and more people struggle to make ends meet, more and more financial aid becomes necessary. Most of which goes right back to the health care industry through Medicare, Medicaid, and a very expensive prescription drug plan. This increases government spending. This has been happening for 30 years now. During the same time, tax rates have been lowered drastically for the richest one percent. Especially those who profit from investments. These people pay only 15 percent on capital gains income. As even more wealth concentrates, the lower majority find it more difficult to sustain there share of the consumer driven economy. Demand drops as more and more people go broke. Layoffs results. Unemployment rises. This results in less revenue and more government debt.
Massive subsidies and tax breaks for Wall Street, massive tax breaks for the super rich, heavy concentration of wealth, record high charges along with record high profits and record high cost of living, more hardship for the lower majority, more government spending in the form of financial aid to compensate, more concentration of wealth, less demand, layoffs and unemployment. All of this results in slower economy and less tax revenue. At the same time more and more financial aid becomes necessary. It's a horrible downward cycle which gradually pushes the national debt higher and higher. The other big factors are the wars in the Middle East.
This post is not intended to excuse those who sit on the couch collecting welfare, make no attempt to find work, or squease out kids they can't provide for.
This post will be a little sloppy for starters. I will clean it up and repost a better essay later. I just want to get the discussion started on how actors and executives use the illusion of 'good will' to maximize their own profits. It's a complicated web of affiliation.
How do modern era celebrities get so incredibly rich? It's not as simple as making movies and selling tickets anymore. Major studios and TV networks are now owned by giant corporations which also own entities within other industries. Their strategies to maximize profits are more calculated than ever.
For example, Brad Pitt and Angelina Jolie have had a special relationship with NBC for years. Countrywide and other banking entities have been sponsors. Not to mention Lowes, Home Depot, and Electrolux. But it's not as simple as selling ad space anymore. NBC is owned by GE. GE also owns at least one major production studeo and entities within the banking industry.
Giant corporations have been working together for years with major media outlets to increase profits. Part of their strategy has been to cross-market their products and services. Also to affiliate with celebrities and create the illusion of 'good will'. When in fact, the idea is to increase awareness and demand for every product and service provided within the umbrella of parent companies and corporate sponsors. New Orleans is known worldwide for it's unique culture. Tourism has been big business in the area for decades. Make it Right is now affiliated with Hyatt Regency. A high end hotel right next to the New Orleans Stadium. There is already a giant dual promotion planned for next spring. Ellen Degeneres (NBC juggernaut) is going to play a major role in this dual promotion. Housing, the related financing and home improvements have also been big business for decades.
If the Lower Ninth Ward is redeveloped with fewer poor people, property values will be increased along with profits made by all those affiliated with Make it Right. The web of affiliation with Pitt, NBC, GE, Hyatt, Lowes, Home Depot, and the banking industry is sprawling to say the least. The operation has also been used to promote at least one 'home improvement' TV show that I know of. Holmes on Homes. I don't recall the network but the show is designed to sell more high end home improvements. It's all very calculated.
I'm telling you that good will has become big business.
If any of you have some more shady details, I'd like to read them.
that's outrageous. didn't the news report this awhile ago?
It was but it was just as quickly forgotten. It is crazy-outrageous that GE gets a free pass!!!
goldman sachs seems to be the present target. They should also go after the GE empire like NBC.
The point is this: GE is running the president & wall street. The CEO of GE is literally in the White House.....the White House....and they paid $0 in taxes in 2010 and continue to make Billions and send jobs to China!
GE does not own NBC anymore, but they did during the 2008 election season.
GE has influence through both parties & the White House....they must be stopped!!! GE is the essence of why people are protesting....focus!!!!
Right now OWS is working on pick and chose. Who decides I do not know. This movement has been over taken by politicians and union leaders. If I suggested any thing then I am dubbed as republican or troll.
I am for protest in DC also.
Exactly. OWS must love GE because any time I've posted something about GE, it quickly gets drowned out with stupid comments having to do with nothing and are huge cut-n-paste posts.