Talk of The Villages Florida - View Single Post - Don't Tax The Job Creators...Really?
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Old 05-01-2012, 06:29 PM
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Default Apply Some "Solid Thinking" To This

Quote:
Originally Posted by RichieLion View Post
I don't have all the answers except that I know if you overtax companies they'll take their business elsewhere. It's common sense. With that business leaving, the jobs leave with them.

You can write a thousand more words about how I'm simplifying a complex subject, but I know what I've written is solid thinking.

I don't need a thousand words to make my point.
OK, Richie, apply a little "solid thinking" to the situation with General Electric. GE didn't pay any taxes on their income in the U.S. at all last year. In fact, GE got a tax refund of $3.2 billion on taxes paid on prior years' income. This company should love doing business in the U.S.

So how many jobs has GE created in the U.S.? Sadly, even though GE can't get a better tax deal than paying nothing, they also haven't created any jobs in the U.S. since 2004. In 2004 GE employed 165,000 people in its U.S. operations. That employment declined steadily each year until the end of 2011, when GE's U.S. employment totaled only about 131,000 people.

So with maybe the most favorable tax deal of any large company--no taxes at all--GE cut it's U.S. employees by 34,000 jobs, a 21% cut in American employment. So in spite of enjoying a tremendously favorable tax deal, GE didn't create any jobs at all. In fact it cut jobs!

I don't know how you can cut GE's taxes to less than nothing, Richie. So again, like the MSNBC ad says, "Don't tax the job creators?...where are the jobs?"

Go ahead, apply a little solid thinking to this one Richie and tell us your findings and conclusions.

Then maybe you can take a crack at my original two questions. Your answers won't take a lot of words, but they will require a little "solid thinking".