How is it possible for a giant company like GE to pay NO Income Tax? Their CEO is on Fed Jobs Council> How?
How can a giant company, earning millions and millions of dollars, pay NO income tax? Their CEO, Imhoff is on President Obama's Jobs Council and GE gave millions to Democrats in the last election but how can such a big company pay no Income Tax? GE is the parent company of NBC News
Asked By: Banker - 4/1/2011
Best Answer - Chosen by Asker
The financial arm of GE is a large percentage of the company and the losses they took from the financial meltdown represent the largest amount of the write-off. The other part involves the generous tax credits the Obama administration has given GE for their part in the "green energy" initiatives involving wind and... More
Answered By: prusa1237 - 4/2/2011
Additional Answers (7)
its easy when you pay obama big bucks.
Answered By: Casey Forrest - 4/1/2011
jeff immelt ought to recall 18,000 laid off old lightbulb assemblers,and yank the stupid sqwiggly wiggly mercury carrying 'green' light bulbs
Answered By: tweetypiie - 4/1/2011
Sounds like you just answered your own question. Can you imagine the uproar if it was a Republican in office? I have not heard a whisper from any liberal news outlet.
Answered By: smsmith500 - 4/1/2011
Does the expression 'political payback' mean anything to you? That's the way its done in the nations capital by the representatives of the 'people'. The same thing happens with unions but even more so. One of the political parties is most definitely in bed with the unions and unions determine how much money companies... More
Answered By: Mike S - 4/1/2011
Almost all Companies don't pay a "income tax" as they don't have gross income. All their Net income is spent paying bills, other taxes, payroll, interest, research, investments, stockholders and such. Then end goal each year for a company is to have zero gross income (maybe negative) that way they don't have to pay... More
Answered By: Jacara - 4/1/2011
Jakara gave a great answer, but did not mention the ties of GE to Obama and Obama to GE. They are both in cahoots with each other and the media has pretty much decided to take a vacation on that story. Most companies pay little to no taxes, yet survive without the cozy relationship of GE to the Obama Administration... More
Answered By: Drayak - 4/2/2011
Ask BO. Aren't we glad we didn't vote for him. Peace
Answered By: PARVFAN - 4/2/2011
Over 483 Local Jobs Now Hiring In Your Area. $18-$87/Hr - Apply Today!
21 Step Program - $1,000, $3,000 and $5,000 Commissions. No Calling
Click. Search. Apply. Free!
Jobs hiring near your local area. Part-time, Full-time, Work at home.
Other Career Questions
What is your current job? Why did you choose this job? What do you enjoy about your job? What do you dislike about your job? What would be your perfect job? Would you rather have this j...
Where are the jobs? Is productivity and globalization creating a permanent “recession” of jobs? My main issue is I am doing a paper for school and have no idea where to begin. I was hoping suggestions...
Hi ok im 19 and about to start college to do an acess course into a university. Ive been browsing through all the courses and im tottaly stuck! I thought politics but im scared ill end up with some r...
Content is not owned or controlled by Monster. Any content concerns should be addressed with Yahoo!
Yahoo! Does not evaluate or guarantee the accuracy of any Yahoo! Answers content. Yahoo! Disclaimer.
Best-Paying Work-from-Home Jobs
It’s easier than ever to work from home. Of course, not every job is a mobile job, and some companies aren’t interested in having their employees work from home.
2013 Marketing Jobs Outlook
The US may be facing another year of anemic hiring overall, but that won't be the case in the high-orbit world of multichannel, digital media marketing.
2013 Engineering Jobs Outlook
Engineers will find job opportunities in select disciplines in 2013, with candidates who are all-around, client-oriented businesspeople in demand.
Best-Paying Jobs by Major
What could you earn with a particular four-year degree? Find out by checking out this list of the top-paying jobs for 20 of the most common majors.
Eight High-Paying, Secure Jobs
Want to earn a good salary and enjoy a measure of job security as well? Check out these well-paying jobs on tap for fast growth in the coming years.