OT: GE pays no income tax

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On 3/30/2011 3:26 PM, Higgs Boson wrote:

Did you hear about the Congressperson who wanted to change the value of Pi?
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wrote:

It is a well-established hoax. We discussed it here in depth recently. Do try to keep up.
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"Even I realized that money was to politicians what the ecalyptus tree is to
koala bears: food, water, shelter and something to crap on."
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On 4/1/2011 9:14 AM, Kurt Ullman wrote:

whoosh.............
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wrote:

Blame you inability to communicate on the audience. (g)
--
"Even I realized that money was to politicians what the ecalyptus tree is to
koala bears: food, water, shelter and something to crap on."
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On 4/1/2011 10:06 AM, Kurt Ullman wrote:

As long as you blame someone else all is good...
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wrote:

It is not whether you won or lost, but how you place the blame. Oscar Wilde
--
"Even I realized that money was to politicians what the ecalyptus tree is to
koala bears: food, water, shelter and something to crap on."
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On Mar 29, 8:34am, "Stormin Mormon"

Well, smartypants, I guess stupid liberals should just shut up and pay their taxes and let corporations get away with paying none? You are so smart I wish you were dead so we could put you on a stamp.
WTF should GE ship our jobs to cheap labor markets over seas and then ship the products back to the US to sell and then pay no taxes?
IMO, only dumbasses shop at Wal-Mart and then bitch that there are no jobs in America. Time to start buying US made products again and forget the shit made in third world countries.
-C-

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I'm afraid it's too late...everything IS made over there!
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Of course, I was exaggerating...I know WE make better stuff here and we should buy it. The best of luck to you!
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Interesting article a couple of weeks ago on the Motley Fool. If you look at manufacturing, we are actually making MORE things in the US than ever before (even after adjusting for inflation). But we have become spectactularly efficient at it. We still have as much mfg as ever, just fewer jobs because of the efficiency. An example, in 1990 the average autoworker's "share" of total auto production was 7.15 vehicles/year. By 2010, each worker was producing 11.2 vehicles.
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koala bears: food, water, shelter and something to crap on."
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wrote:

about
Yes, because robots are replacing workers. Henry Ford would laugh because even he knew that to sell cars, workers had to earn enough money to buy them. Will these robot workers be buying cars, smartphones, extended warranties, life insurance, gasoline, food, etc? I doubt it.
-- Bobby G.
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What liberals fail to grasp is basic economics, probably because so many of them hate business so much, they never took an economics 101 course. If I raise the taxes on a company, the irrefutable laws of economics mean that is just another business cost. So, it's just like if the price of their rent, fuel, labor or materials went up. And then, they just raise prices so that the overall return on investment stays the same.
Now, in the case of GE, an argument that does have merit is that if they had to pay more taxes, given that a large part of their business sales are overseas, passing the costs along would hit foreigners as well as Americans who buy their products.
I think the real problem with GE is that they appear to be benefitting far more from the tax laws than other US companies. But, who's fault is that? It's Congress that passes the tax laws. It's also interesting that the NY Times article talks about how President Reagan closed loopholes that resulted in a large increase in taxes at GE, his former employer. They go on to outline how that started to be reversed in the late 90s. Gee, who was president and who controlled Congress back then? They go on to detail the $30mil Charlie Rangel got GE to donate to schools in NYC, $11mil of it in his district, just before he changed his position on GE tax breaks.
Yes, there is a problem, and as usual, it's big govt as usual. That's why some of us are for tax simplification, flatter taxes, eliminating loopholes. But that would decrease the power of the guys like Rangel, so don't expect it to happen easily.

Another position that ignores basic economics. Liberals like to look at only one side of the equation, which is that people in China are now making hammers you can buy at Walmart as well as everywhere else. The other side of that equation is that a hell of a lot of us are benefitting by being able to buy that hammer for $3, instead of one for $10 that is made in the USA. I would just have to work more to buy those goods, something I and most others aren't going to do.
And I thought libs were all for lifting folks out of poverty. That is exactly what is happening in developing countries. Those folks may only be getting paid $1 an hour, but that is 2X what they were getting before, they are happy with it, and it's increasing their standard of living.
The other problem with the whole Walmart bashing is that there is no better solution to free markets. To try to stop Walmart from selling those $3 hammers would require slapping on tarriffs. And then the foreign govts just do likewise and slap on tarriffs against the likes of Intel or Boeing, which are major American exporters. It's like trying to limit the internet, or shovel crap against the tide.
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wrote:

Tariffs like VATs? Like essentially every country in the world has except for the US?
The problem is that we're taxing the people instead of taxing for the people, and we're protecting other countries governments, not their little people.
http://www.reverecopper.com/pdf/MyCompanyCountry.pdf http://www.reverecopper.com/pdf/mycompanyormycountry.pdf (the links have similar names, but they're different)
Oh, and there is no such thing as a free market other than a yard sale on Saturday morning.
R
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Once GE gewts hit with all the lawsuits over the japanese reactor there will be no profits to pay taxes on, GE will end up in bankruptcy.
Their cheaper reactor the buyers got what they paid for
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I read an article about who gets stuck with the cleanup costs after disasters. Guess? It's not the reactor makers, not the plant owners and operators, not the insurers. It's the taxpayers. In the case of Chernobyl, it's the taxpayers of the countries surrounding the Ukraine that got stuck with the bill - the Russians were bankrupt. Surrounding countries knew if they didn't help, they'd get poisoned too.
-- Bobby G.
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I gotta say that, according to what's coming out now, the Japanese engineers/geologists/other specialists were using very, very, very old data when planning and siting these reactors. Nobody had properly studied the history of earthquakes going back over 1,000 years. This is just plain inexcusable. Not that GE isn't at fault too for their criminal greed, but the Japanese had a duty to study the geology and earthquake history of these areas before committing to the cheap-o GE product.
That aside, I am still in shock that a so-called wealthy and technology adept society like Japan couldn't locate a few helicopters to fly food, clothing and shelter into areas where helpless families sat on mats, freezing to death, without adequate food, clothing and shelter. Wonder if this will cause the govt. to fall when/if the poor people are relocated and given at least the basics of human survival. You hear a lot about how polite and stoic the people are; maybe they should get more angry and blame the govt. for its shortcomings!
HB
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Higgs Boson wrote:

What greed? What cheap-o product? The reactors performed exactly - or almost exactly - as they were designed. They shut themselves down properly and so forth.
The genesis of the current problem, the root cause, the whole enchilada, lies at the foot on one horrendous mistake: The location of the reactors.
Blaming GE for the site's vulnerability to a tsunami is like blaming Sunbeam for a toaster failure when the toaster gets submerged.
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On 3/30/2011 7:49 AM, HeyBub wrote:

It was known. There was data that tsunamis had swept as far as 2 miles inland near that location. That data was discarded as being too old to be "reliable".
This was revisited not too long ago and the Tsunami risk wasn't even looked into.
This

Actually they didn't shut down properly. Unit One ran into trouble early on and it was designed with a passive cooling loop to the condensor. It should have been fine for some time with no power. The rest of them also had troubles shutting down. The only thing that did function properly was the control rods.

Most reactors are located either near the sea or near a river.

These are all Mark 1 designs, unit 1 being a BWR3 reactor and the rest BWR4. A design that was marketed as being cost effective. Top level engineers at GE had quit over the design.
Unit 6 was either a Mark II or Mark III. If it had been online it wouldn't have had the same problems as the obvious flaws in the design had been corrected. No spent fuel pool sitting exposed on the top floor for one. And a much larger wet reservoir.
It's going on 3 weeks out and they still haven't been able to drain the cooling pumps, a necessary step to keep them from blowing out the lines, before they can restart the cooling loops.
Since this is first generation, I can't fault the design so much as the fact they have extended the service life. Apparently in the case of Fukushima without any of the mods to make them safer. They have a long history of problems. This is criminal.
Jeff

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Jeff Thies wrote:

But you don't get tsunamis on the Great Lakes, the Gulf Coast, or 100 miles up the Mississippi. Lets look at a few:
* There are three in Idaho * One in Fresno * One in New Mexico * One each is Iowa, Kansas, and Northern Alabama * There are two in Dallas and Illinois * One in Wisconsin and two in Massachusetts
I suggest that planning for a tsunami for the above wasn't even on the list.
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harry wrote:

Thank you for the link. Notice the article reports NOT A SINGLE TSUNAMI involving a lake and is full of weasel-words:
"Lake Tahoe is an example of a lake that is in danger of having a tsunami due to faulting processes." (Never had one, though.)
"These could possibly cause sub-aerial mass flows that could generate tsunamis within the lakes [in New Zealand]..."
And so on . . .
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