Posts Tagged ‘scam’

GE and taxes…..

April 11, 2011

Much has been written/said recently about Government General Electric and the taxes that it has paid, or NOT

It “earned” $14.2 BILLION in 2010 and paid a grand total of $0 in taxes to the United States Government.  In the last 5 years, GE has earned more than $26 BILLION and received more than $4 BILLION in tax credits from the IRS.

Now don’t get me wrong, I understand some of the accounting that goes into a “tax loss carry forward”.  I DO believe that “honest” companies should be able to carry a loss forward, into another year to offset profits, in order to reduce taxes.

However, here is the problem that I am having.  When the latest recession began, as a result of indiscriminate lending, of which GE (through its subsidiary GE Capital) was a HUGE beneficiary, GE Capital provided 40% of the profits of GE.  GE Capital was involved in ALL of the kinds of “shady” loans, CDO’s, etc.  They were using the lax loan standards, approved and being used by all of the other major players, to maximize their fees while limiting their exposure.  Still, they did as poor a job, as all the other major players, or worse.  At that point in time, GE Capital “could” have bankrupted GE.

Then GE used the “Bank Bailouts” (TARP, TLGP, Stimulus, etc.) to the tune of at least $140 BILLION to “save” themselves.  That is, they TOOK money from US, and used it to stay in business and make profits.  And, now they are “using” the losses that they incurred to evade/avoid paying taxes to US.

Here is what I would like to see.  IF a company used the United States Government to remain in business, and to profit from free, or cheap, money loaned to it; then ALL previous losses are negated.  No more shenanigans, those companies will be ALLOWED to say THANK YOU, for saving us and our overpaid jobs, to the American public, and they will pay TAXES on ALL income generated.  Hey, GE let’s call it even and you PAY the taxes that you OWE!!

Let your representative know what you think, and if you think that you do NOT pay enough in taxes, NO ONE is stopping you from sending more.

The AARP Scam

December 18, 2009

The American Association of Retired Persons (AARP).  Another SCAM on the American PUBLIC, including, but not limited to,  RETIRED people.

If you are a member of AARP, ASK them where YOUR money goes? 

Here is a hint, NOT to help YOU.  AARP is endorsing the new Democratic Health Care plan(s) for cold, hard cash.  AARP does not even NEED you to be a member any longer.  AARP is making more money from selling insurance and our “GOVERNMENT” than they get from members.  By endorsing the Democrat Health Care plan(s), they will INCREASE their income from insurance.  This INCREASE in insurance premiums will come from YOU, because of reductions in Medicare and Medicaid.

If I have not been clear, let me try again.  AARP wants the “Governement” to reduce Medicare and Medicaid, so that, Seniors (retired persons) will find it necessary to purchase (spend more of their own money) insurance to cover the reductions.  AARP will only be only too happy to provide this insurance.

If you do not want to believe me, do your own research.  You can start here.

I have also called these plans the Democrat Health Care plan(s), because that is what they are.  They have not worked with anyone, but a select few (not even all the Democarts are involved) to draft these “plans”. 

Also, how can AARP endorse a plan without reading it??  How do I know they have not read it, you ask.  Because even the Senators and Representatives that are voting on the plans, have NOT even SEEN the plans, let alone read them.

Call your representatives, tell them to read the bills, AND explain them to YOU!!!!  What will it cost YOU if you do nothing????