{"id":8544,"date":"2011-10-21T13:06:11","date_gmt":"2011-10-21T17:06:11","guid":{"rendered":"http:\/\/www.rightwinggranny.com\/?p=8544"},"modified":"2011-10-21T13:06:11","modified_gmt":"2011-10-21T17:06:11","slug":"am-i-the-only-one-wondering-about-this","status":"publish","type":"post","link":"https:\/\/www.rightwinggranny.com\/?p=8544","title":{"rendered":"Am I The Only One Wondering About This?"},"content":{"rendered":"

I reported in January at rightwinggranny.com<\/a>\u00a0that\u00a0General Electric CEO Jeffrey Immelt was appointed\u00a0lead\u00a0the President\u2019s\u00a0new jobs council. In March I reported at rightwinggranny.com<\/a>\u00a0that General Electric had paid no corporate income taxes in 2009.<\/p>\n

The Wall Street Journal<\/a>\u00a0reported:<\/p>\n

\u201c\u201dWe expect to have a positive tax liability for 2010 when we file our U.S. income taxes later this year,\u201d the conglomerate said in a written response to questions from Dow Jones Newswires. But \u201cwe think it will be covered by overpayments.\u201d”<\/strong><\/p>\n

\u201c\u2026GE called the Times report \u201cparticularly distorted and misleading\u201d on its website Friday. On Monday, GE noted on its website that it paid almost $2.7 billion in \u201ccash income taxes\u201d globally in 2010, \u201cincluding significant U.S. federal income tax payments.\u201d<\/strong><\/p>\n

\u201cGE also has said that its tax rate has been abnormally low recently largely because of losses suffered by its financial arm, GE Capital, during the financial crisis. The company noted that GE Capital lost nearly $32 billion from 2008 to 2010.<\/strong><\/p>\n

\u201c\u201dOur 2011 tax rate is slated to return to more normal levels with GE Capital\u2019s recovery,\u201d the company said.\u201d<\/strong><\/p>\n

Today the New York Times<\/a> reported:<\/p>\n

General Electric<\/a>, the nation\u2019s largest industrial company, on Friday reported net earnings for the third quarter of $3.2 billion, up 57 percent from the same period in 2010 despite what the chief executive called a \u201cvolatile\u201d economic environment.<\/strong><\/p>\n

<\/strong>The article further reports:<\/p>\n

G.E. has been expecting its business for power generation equipment, which involves gas, steam and wind turbines<\/a>, to improve this year. Profits in that component of its business were down 19 percent in the second quarter.\u00a0<\/strong><\/p>\n

Does anyone doubt that if the Obama Administration continues to pursue green energy, General Electric will profit handsomely by being well placed in the industry? I seriously doubt that any of this activity is illegal, but it is a glaring example of crony capitalism. The people at Occupy Wall Street are definitely protesting the wrong people–they should be out in front of the White House.<\/p>\n

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\"Enhanced<\/a><\/div>\n","protected":false},"excerpt":{"rendered":"

I reported in January at rightwinggranny.com\u00a0that\u00a0General Electric CEO Jeffrey Immelt was appointed\u00a0lead\u00a0the President\u2019s\u00a0new jobs council. In March I reported at rightwinggranny.com\u00a0that General Electric had paid no corporate income taxes in 2009. The Wall Street Journal\u00a0reported: \u201c\u201dWe expect to have a … Continue reading →<\/span><\/a><\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[494,918,917,542,919,34,280,238],"class_list":["post-8544","post","type-post","status-publish","format-standard","hentry","category-uncategorized","tag-crony-capitalism","tag-ge-capital","tag-general-electric","tag-income-tax","tag-jeffrey-r-immelt","tag-new-york-times","tag-tax","tag-wall-street-journal"],"_links":{"self":[{"href":"https:\/\/www.rightwinggranny.com\/index.php?rest_route=\/wp\/v2\/posts\/8544","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.rightwinggranny.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.rightwinggranny.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.rightwinggranny.com\/index.php?rest_route=\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.rightwinggranny.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=8544"}],"version-history":[{"count":1,"href":"https:\/\/www.rightwinggranny.com\/index.php?rest_route=\/wp\/v2\/posts\/8544\/revisions"}],"predecessor-version":[{"id":8559,"href":"https:\/\/www.rightwinggranny.com\/index.php?rest_route=\/wp\/v2\/posts\/8544\/revisions\/8559"}],"wp:attachment":[{"href":"https:\/\/www.rightwinggranny.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=8544"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.rightwinggranny.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=8544"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.rightwinggranny.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=8544"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}