Bruce with a Canon wrote:
obviously Bush's fault
Oh By the way, the reason GE paid no tax is they followed the tax code. You could do the same, so could I, if I had the money GE pays for tax lawyers.
And I agree on the quality of GE kitchen appliances. ( I know GE employees that do not buy them even with a GE discount)
GE however makes a wide range of products, from aircraft electronics ( avionics ) Combat electronics, Patriot Missle gozintas. Power generating equipment, medical equipment, finance companies, on and on.
If I remember correctly GE employs 300,000 folks in 100 nations
obviously Bush's fault br br Oh By the way, the r... (
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Back in the eighties I was following a BN freight train through the Cascade mountains taking photos. The train was stopped outside the 8 mile Cascade tunnel, and I struck up a conversation with the crew as they waited for a westbound train to clear the tunnel. I commented on the new GE cabless locomotives in the consist to which the engineer said "GE Can't make a decent toaster, what makes them think they could build a locomotive? We burn one of these up with almost every trip over the hill!" Evidently they must have improved their quality as some years later GE overtook GM-EMD in selling the most locomotives.
Hell they even build engines for Boeing aircraft. (Airline customers choose what engines they want in their planes). It's unfortunate that GE is packing up and moving to China, but business' often move to the place with the best business environment, usually that means moving the headquarters to a different state, but in this case it's obviously off shore. Thank to a crappy economy, and unfriendly tax rates, they will go where the share holders will get the biggest return for their investment. The claim that it pays no federal income tax is disputed by GE. Moreover, aside from corporate income taxes, GE pays payroll taxes, state taxes and local taxes. So the assertion that GE pays nothing zero in taxes is simply inaccurate.