In spite of robust profits of $14.2 billion worldwide, GE has calculated a corporate tax bill for 2010 that adds up to zero..

WOW! Nice to be Obama's friend. Tell me again who has the power .....GE why! They bring good things to life.....

No votes yet

Yet tell the middle class that their mortgage-interest deduction is part of the same problem of a tax system filled with loopholes, and they scream bloody murder. That's why this will never be fixed, and in fact why it will only grow worse.

A Big Corporation not paying their fair share!! Where is Paul Wolfaert (ie wolfboy) on this?! OH YEAH --the CEO IS IN OBAMA'S FRONT POCKET.


We are all born ignorant, but one must work hard to remain stupid.-Ben Franklin

Wolfman is well aware of the snake pit that is Washington D.C. Many are disappointed in Obama's lack of direction since the November election. Wolfman has a list that is long but when one weighs it to the other side of the aisle well it is daunting the difficulties Americans face going forward. Wolfman would imagine Obama is somewhat overwhelmed by the huge challenges we face. Everyday the Whitehouse is swarming with lobbyists with pockets full of money. Everyday Hate Radio and Cable Clowns twist the news for ratings. Everyday scheming people with means threaten our way of life, subverting all that was good about this country. This all reminds the Wolfman of a joke that's been out there for a few months it goes like this.

"A unionized public employee, a member of the Tea Party and a CEO are sitting at a table. In the middle of the table is a plate with a dozen cookies. The CEO reaches across and takes 11 cookies, turns to the Tea Partier and says, “Look out for that union guy, he wants a piece of your cookie."

Statements made are the opinion of the writer who is exercising his first amendment right to freedom of speech. Freedom of speech in the United States is protected by the First Amendment to the United States Constitution and are generally permitted.

Bad metaphor. The public-union guy is feasting from the Tea Partier's plate. The CEO is feasting from his own plate. The union guy has found it too difficult to get his food from the kitchen like that CEO did, and so he snags food constantly from other plates at the table.

The corporations and unions are eating us alive, but at least the corporations do work for their money. The public unions don't do any work worth mentioning. They are lazy and entitled and it's long since time to put an end to their attack on the taxpayer.

Governments are bloated, and we are Taxed Enough Already. So spending AND taxation must drop. Bloated contracts for public unions should be among the first to go.

Anyway, back on topic: When will we close all these stupid loopholes in the tax system? Why not a tax system based on no deductions or credits whatsoever? If you make $10K this year, you owe $1000. Pay up or go to jail. If you make $10 million this year, you owe $1 million. Pay up or go to jail. In either case, taxes in arrears can be made up by asset confiscation.

I'd be willing to fund such a government structure. 100% enforcement. Of course, each and every sector of the population will scream and yell, having lost their pet deduction or credit. So it'll never happen, and the federal budget will just get worse and worse until a true catastrophe happens.

That true catastrophe is, its the end of America... another Empire bites the dust...

"DTOM" {1776} " We The People" {1791}

Comment viewing options

Select your preferred way to display the comments and click "Save settings" to activate your changes.