GE avoids billion of dollars in taxes to the federal government because the company is in lock-step with this current government on the so-called green technology.
From the linked article:
The company reported worldwide profits of $14.2 billion, and said $5.1 billion of the total came from its operations in the United States.
Its American tax bill? None. In fact, G.E. claimed a tax benefit of $3.2 billion.
At a time when the American economy is in the tanks and could desperately use a break in the job creation department, just how do you think GE is going to use this money?
Cue up the video:
That’s right all you groovy guys and gals, Obama’s favorite corporate lap dog is going to ship jobs to China. And, it’s not just jobs. It’s the headquarters of an entire division.
GE Healthcare, a maker of diagnostic imaging equipment, said Monday it is moving its X-ray global headquarters from the United States to Beijing as it seeks to tap China and other emerging markets.
The General Electric Co. unit is the first business of the industrial and financial giant to relocate to China.
Anne LeGrand, vice president and general manager of GE Healthcare Global X-Ray, told a news conference that the decision to move from Waukesha, Wisconsin, was made two years ago and will be completed by early fall.
Please note where the division is now located. Wisconsin.
Gov. Scott Walker’s state won an important union battle earlier in the year, by passing legislation to have public employees contribute a little of their own money to their healthcare policies and their own retirements. Since that time, Wisconsin has announced left and right that new companies are relocating to or expanding within the state. In an obvious effort to punish the people of Wisconsin for electing a sensible group of men and women who realize that government cannot continue to spend money it does not have, Obama’s pet Immelt is packing up GE X-Ray Headquarters and moving it to China.
That’s right. They are moving to a nation that has pirated almost every piece of modern technology it has to this date, a nation that allows vendors to set up fake Apple Stores.
Punish Wisconsin and reward China, that’s the Obama way.