GE Acheives Leftist SaintHood

[flacaltenn]

I'm sure the eco-whacks thought that all those "alternative" green tax incentives were gonna go to grandma's backyard ethanol still or aunt margies worm farm down in Ocala. Tried to tell them that "big energy" and "big biz" would suck them right up..

Now we have the spectacle of Obama embracing my bud J. Immelt of GE and recognizing his ability to play the leftist game.

- Contribute to the left politically
- bow to the eco cult with cute dancing pachyderms in their advertising,
- hire 100 additional tax accountants as a new profit center to exploit green federal cash.
- create an intellectually pure leftist media oasis on your NBC cable news station
- turn your weather channel acquisition into a tax and cap global warning propaganda machine.
- accept a political appointment to serve the Prez as an industry advisor.

He's a true leftist hero.

Except that now I gotta endure the phoney baloney freakout from the likes of Bernie Sanders and Chuck Schumer who have no idea how G.E. got off with the loot. This is one clear case of govt-corporate collusion that I whole-heartedly support because perhaps the faked indignity of the leftist pols will nauseate the public enough to understand we have an INSTITUTIONAL problem with corporate-govt collusion. NOT a clear cut difference of political philosophy between the DEM/REP parties... And I'll hold my GE stock until the honey bucket runs dry...

This is how the NEW nation of builders will operate. Immelt has shown how lucrative it is to can your marketing dept and let the Federal Budget determine your R&D, your corporate image advertising, and subsidize your inept financial divisions. No worry about return on investment, Heck you can still get mohair subsidies can't you?

Just dance to the current tune, put your innovative folks on hiatus, pretend you're greener than a tree frog and just count the loot. Schumer KNOWS why GE didn't pay any taxes last year in the US --- he just thinks we're stupid... Watch the donations to the leftist candidates in 2012.

 

[flacaltenn]

Were you aware of the MAGNITUDE of "green subsidies" that were being handed out to GE and others?

This just floored me...

UNCW Libertarians: Whirlpool Parlays "Green" Tax Credits into 0% Tax Rate

Whirlpool Corporation recorded $18 billion in global sales and $619 million of earnings in 2010 but won't pay anywhere near the U.S. statutory tax rate of 35% on those profits. Its effective tax rate will be 0%.

As Bloomberg first reported last week, Whirlpool has stockpiled more than $500 million in tax credits for making energy-saving "energy star" appliances—washers, dryers, refrigerators and so on. The firm gets a production tax credit of up to $200 per refrigerator, $75 per dishwasher, and $225 per washer and dryer. General Electric has also collected about $200 million of these credits.

Think of these energy efficiency tax carve-outs as a version of the earned income tax credit for corporate America. Except Whirlpool and GE aren't poor.

The deal gets sweeter. Those credits can be carried over from one year to the next for up to 20 years. Whirlpool is collecting so many credits that it may not have to pay a dime of corporate income tax for years. The lost revenue from GE and Whirlpool alone far exceeds the $78 million revenue "cost" over 10 years that Congress's Joint Committee on Taxation predicted for the credits. ..

$75 tax credit PER DISHWASHER -- to save the planet? This subsidizing of stuff that is already rolling off the production lines is ludicrous. If ANY subsidies are involved, they should at least be focused on R&D or leveraged to restore American technological leadership!

 

[flacaltenn]

I guess all those lefties who constantly complain about G.E. not paying any taxes are not really interested in their role in that process. And that the Grover Norquist squad is just cool with keeping the GE "tax cuts" just the way they are for political purity..

Boy -- did I misunderestimate the popular sentiments I read on this board..

 

[editec]

Yeah amazing appointment wasn't it?

They're (meaning both parties) not even TRYING anymore to pretend that they stand for anything, anymore.

 

[uscitizen]

And ADM, Monsanto get mega bucks from ethanol subsidies too.
Lets not forget Whirlpool as well.

 

[Avorysuds]

And people make fun of Ron Paul... I love it.

"It's all just 1 party."

"Ron Paul stands no chance"

If RP got in the white house and sold out I'd be right there to call him out on it, but lets just keep voting for the equal evil, Dem or Rep because RP is only doing decent in the 2012 run.

 

[flacaltenn]

Yeah amazing appointment wasn't it?

They're (meaning both parties) not even TRYING anymore to pretend that they stand for anything, anymore.

Wow editec.. you actually get it. And my 1st impression was that you were unretrievable.


It's a perfect transformation for GE.. They've taken corp/govt collusion to new levels of performance here. INCLUDING the phoney bitch-slapping by the very Dems that got them those Green subsidies.

We've GOT to stop this kind of corporate welfare. $75 per DISHWASHER? Money for every gas, water and wind turbine they make? THERE"s the market distortion. GE has decided what they are gonna make by what the GOVT is subsidizing today.. And Obama thinks that Jeffrey is a genius...

 

[flacaltenn]

AvorySuds... Consistentcy does count for something when it comes to finding the money leaks..
Don't know WHY these subsidies aren't gone tomorrow along with USCitizen's ethanol observation. I counted at least 6 complaints from the left about GE paying no taxes. But NOT A WORD about subsidies. Even it they were created under the "save the earth" excuse umbrella, the only thing green about this is the color of the real money.

BTW: Did anyone notice the symbolism in that GE "dancing elephant" commercial??

Happy little republicans, learning how to dance to the tune of the Fed central planning. Tearing through the overgrown GREEN jungles of bureaucracy. I swear it was "in your face" advertising.

[ame=http://www.youtube.com/watch?v=CkmHBL0tE6U]YouTube - ‪GENERAL ELECTRIC ECOMAGINATION DANCING ELEPHANT AD‬‏[/ame]

Ecomagination --- they are STEALING valuable resources from TRUE ecological R&D. I'd rather see shrimp on a treadmill than subsidies for washing machines..

 

[uscitizen]

Lets not forget also how the electric companies benefit from energy star appliances. less power plants to build.
which means fewer jobs as well.

Many angles to this game.