GE Lobbyists Mold Tax Bill -WP

[Rose Siding]

No company in the nation had more to lose than General Electric Co. when the World Trade Organization decreed in 2002 that U.S. tax laws violated international treaties. The multinational conglomerate was saving hundreds of millions of dollars a year in taxes from the export subsidies that the United States had to discard.




But in a two-year campaign, fueled as much by brains as political brawn, GE has shaped the legislation that would replace the old export-promotion law in ways that would allow it to save as much, if not more, in taxes, according to both GE lobbyists and congressional aides. In pursuing its financial interest, the company may also have turned the U.S. corporate tax code away from domestic manufacturing and toward expansion of operations abroad.

"The bill is truly amazing," said Michael J. McIntyre, a tax law professor at Wayne State University and an expert on international corporate tax issues. "We had an incentive for exports that was illegal and had to be repealed. Now Congress takes the money saved by the repeal and uses it to reduce taxes on the income earned by U.S. companies in foreign countries, thereby making foreign investment more attractive than U.S. investment."

Advocates and detractors alike say such concerns -- broadly shared -- make GE's lobbying feat more remarkable. House and Senate negotiators are expected to begin final talks on the corporate tax bill this week or next. GE's final push is about to begin.

http://www.washingtonpost.com/wp-dyn/articles/A45064-2004Jul12.html

[hedda_foil]

1. Sonofabitch!

I'm spitting mad. Absolutely furious!

[aquart]

2. Corporate treason.

Aided and abetted by our Congress.

REAL ELECTION REFORM: Six weeks. Free TV. Maximum total amount of funds raisable in any way.

[kikiek]

3. Disgusting. That shows how patriotic they are. Is it NBC/Viacom

that they own also? I know they have defense contracts. Soon war won't be supply us with jobs. They will be supplying other countries. Talk about adding insult to injury.

[DeepModem Mom]

7. GE owns NBC (and Viacom owns CBS) n/t

[dArKeR]

4. Jeffrey R. Immelt today: 'Iraq is going smoothly, better than expected.'

I saw him on Nightly Business Report, Monday July 12, 2004. This was him talking about the business prospects of GE in Iraq. And he's happy to be there. And Iraq's electrical system is 30% GE from previous business dealings with Iraq. (Which he didn't explain.)
Said GE has plenty of workers on the ground and GE is committed.

Wonder if he has been touring the electrical facilities?

[nodictators]

13. A little blood money, eh Jeffery?

More than 875 US soldiers have lost their lives for the lucrative profits you and GE make on those cost-plus contracts you get from BushCo.

And your NBC propaganda operation had Tom Browkaw telling the viewers that they musn't see any more picuters of the "abuse" of prisoners in Abu Ghraib.

Funny how Tom and his minions can't see much of any "fleecing of America" in Iraq either.

[Rose Siding]

15. Sounds like a clip from Moore's movie

Cue coffin footage

[dArKeR]

19. He also pushed for tort law change so that scum companies/people that

murder and poison Americans can't be sued.

[Frances]

5. This is why TV networks and cables should be separate

companies with no ties to corporations. They have a conflict of interest when reporting the news

[UpInArms]

6. the corporate state of amerika

[DeepModem Mom]

8. WP front-paged this -- it's big, stomach-churning news -- n/t

[cthrumatrix]

9. where in the hell are our representatives.... where's Kerry on this...he

has the stage...out the corporatism.

If he doesn't ...and awol doens't...we have our answer....and that is that everyone is "owned"!

[papau]

11. Kerry against tax cut for big corps - but for concept of bill.

n/t

[KoKo]

14. He's for the "concept of the bill?" What?

Well, at least he understands he won't get elected by running on reform of "Corporate Corruption." Geeze!

[prolesunited]

10. I think that NBC should be forced

to issue a disclaimer within every news cast. Talk about vest interest!!! :mad: :mad: :mad: :mad: :mad: :mad:

[Hotler]

12. Greed, greed, and more greed

IMO, 90% of our countrys problem is caused by greed. Corporate greed is ruining our democray. Until the everyday Joe starts condeming the rich instead of kissing there butts things will not get any better. If the rich had to earn their money in an open and honest way there'd be a lot less of them. Kerry is not doing emough to exspoe and denounce the strangle hold greed has on this country.

[AP]

16. How does GE think US customers will get money to buy lightbulbs if

they force business and investment overseas???

[AP]

17. Yesterday, I heard a radio show where a lobbyist for the Manfucturing Ass.

said that it was civil jury awards that were driving US manufacturing business abroad.

What an assholde.

It's the fucking tax code.

(And just because a product is manufactured overseas doesn't mean you can't sue its American distributor, by the way.)

[primavera]

18. Kick

:kick:

Pay attention people, your tax payer dollars are going to be used to reward companies for laying off US workers and setting up slave labor camps in some place like Malaysia. Might want to have a word with your representatives while you still can.

[Cerridwen]

20. GE anti-American activities not new . . .nor unknown

The ghost of Adolph Hitler: Nazi influence in America

General Electric Funds Hitler

Corporate Deals with Nazi Germany

Time to get this back out into the public.

[MountainLaurel]

21. Hump Day Kick

Time to send another scathing letter to my senators, as well as all those family members who are losing jobs going overseas.

:nuke: