GE Pays No Taxes, Wants Workers to Accept Cuts - FDL

GE Pays No Taxes, Wants Workers to Accept Cuts
By: David Dayen
Monday March 28, 2011 1:36 pm

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Mike Elk has a nice companion piece to the New York Times story on General Electric paying no taxes after making $14 billion in profits, and in fact getting $3 billion in returns from the government. At the same time that the corporation isn’t giving one penny to the government for use of the commons, they are trying to exact wage and benefit cuts on their own workers.



Unions may opt to strike if GE asks them for concessions, and with the NYT report they certainly have a good deal of ammunition to make their case to the public. There’s a rally planned for June 4th at the GE Locomotive Factory in Erie, PA.

The GE situation is a good model for the New Gilded Age. Corporations can use loopholes and aggressive lobbying for tax breaks to dissolve all their liabilities, and at the same time cry poor and force their workers to accept cuts that only increase their profits. They never expect anyone to put two and two together, and certainly the politicians don’t. The labor movement is more attuned to these storylines, along with the burgeoning progressive alliance, but in a country effectively ceded to corporations, they have a long road.

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Link: http://news.firedoglake.com/2011/03/28/ge-pays-no-taxes-wants-workers-to-accept-cuts/

:kick:

But it is good policy not to negotiate with terrorists.

If I were a member of their union I'd assume the "or else" was my job moving to Mexico or someplace overseas.

Maybe the President should get his job creation task force to work on the offshoring problem and pressure it's putting on union bargaining positions. I hear this Jeff Immelt guy is a job creation expert! :eyes:

Friendly Fascism.

Gangster State.

Your GANGSTER STATE link is the same ole JFK conspiracy crap.
The rich getting richer by screwing the masses is an ages-old game being practiced consistently these days.
No need to muck it up with JFK conspiracy bullshit.

Corporation behind the Nation of Japan's nuke woes is now getting a tax cut to boot?

Are they being rewarded for helping fulfill the Kissinger recommendation of population elimination? Or what?

General Electric Aircraft Engines, Lynn, Mass., is being awarded a $246,520,390 modification to a previously awarded firm-fixed-price contract (N00019-06-C-0088) to exercise an option for 68 Lot 15 F414-GE-400 engines and device kits for the F/A-18E/F aircraft

http://www.newsonnews.net/politics/7918-department-of-defense-contract-awards-march-22nd-2011.html

Compared to what they have become the old GE seems benevolent by comparison.

And Immelt is the guy who is helping to shape economic policy for the administration ?

Jeezus, Mary and Joseph...