Quote:
Originally Posted by Willravel
I'd rather simplify the tax code for corporations than lower it to zero. Frankly, we need the money and paying taxes is part of doing business with and in the United States.
The bulk of GE's profits were made offshore, thus utilizing a popular loophole in our tax system. That's not the complete picture, but it gives you a good idea.
|
In 2010 GE's had net income or profits of over $11 billion dollars. Generally a bit less than half of their revenues are US and the rest international. Did you know GE got bailout money from the government? GE has a double A rating, about as good as a corporation can get and it was a triple A, same as the US government in 2008. If they needed money they could have easily gotten it from the market. Oh, but they did Buffet bought $3 billion in shares, and GE sold $12 billion in a public offering in 2008 and 2009. Not only did GE pay dividends to shareholders in 2010, they raised the dividends not once but twice. If you read their annual report online you will see they are more optimistic about making a boat load of money than ever before. The financial crisis that Obama saved us from allowed GE to write down billions in paper losses in their GE Capital division thanks to Obama's false "saving us from the brink", b.s. GE is simply stronger than ever, thanks to your democratic friends in Washington.
Quote:
|
I'm not with the Tea Party for a few basic reasons: 1) The Tea Party doesn't care about fiscal responsibility under Republican administrations,
|
If government spending remained constant given the Bush tax plan we would be running a surplus. Look at tax dollars collected and government spending back to about 2003. But even if you do factor in the added spending under Bush, as a percentage of our national income the deficits would be below historical averages. The spending during the last two years has been unbelievable. Also, note that the Tea Party movement started closely aligned with the bailouts.
Quote:
|
2) the Tea Party listens to the likes of Beck, Palin,and Rush, who are all nothing but lying propagandists,
|
Palin is of little consequence currently.
Beck has been fired.
Rush is an entertainer that has been doing what he does for over 20 years and has nothing to do with the Tea party.
Quote:
|
and 3) the Tea Party will likely die off this year; what power the Tea Party may have had in 2008 is now basically gone. A new, non-partisan vehicle is needed for this kind of change to take place, but a non-partisan vehicle will be attacked by the conservative media and ignored by the liberal media.
|
Time will tell. If the government gets spending under control the Tea Party will die down. Otherwise the influence will increase. And it will increase at the expense of old-school Republicans who don't get it. Even if Obama wins in 2012, he will face people in Congress who will not compromise. I seriously suggest Obama deal with the issues of spending and the debt now.