Gingrich: GE 'clever' to pay zero corporate taxes

[Judi Lynn]

Source: MSNBC

Gingrich: GE 'clever' to pay zero corporate taxes
2012 presidential candidate says company's strategy was rational response to high tax rates
msnbc.com news services
updated 2 hours 21 minutes ago 2011-05-13T15:56:24

-WASHINGTON — Republican presidential candidate Newt Gingrich said Friday that General Electric's aggressive legal and accounting strategy, which led to zero corporate tax payments last year, was a clever and rational response to the nation's high tax rates.

In his first public speech since announcing his candidacy, the former House speaker said he wanted to slash an array of taxes and bureaucracies.

He denounced President Barack Obama's foreign and domestic policies, and said the incumbent can't win in 2012 without using his office to coerce massive campaign donations from people.

Gingrich lived up to his combative, self-assured reputation at a Washington meeting of economic conservatives. He praised the author of the "Laffer Curve," a theory that says unless taxes are kept low, individuals and corporations will invest less and seek ways to avoid paying taxes.




Read more: http://www.msnbc.msn.com/id/43023367/ns/politics-decision_2012/

[yellowcanine]

1. Ok I really hope his campaign crashes and burns. I don't want him to win even one primary.

The man is nauseating.

[meegbear]

3. He'll never be prez and he doesn't want to be ...

he does this shit every election cycle to be "relevant" on the political scene and try to influence policy.

[rfranklin]

4. And make big bucks...

Don't forget the profit motive!

[meegbear]

10. True, very true!

[left on green only]

45. I have seen the face of evil and it is indeed Newt Getricher

[NYC Liberal]

2. He thinks corporations will stop finding tax loopholes if we just lower

their taxes. :eyes:

[BeyondGeography]

5. Not clever

[Roland99]

6. Corporations shouldn't be given a chance to be 'clever'. They want to be persons? PAY TAXES LIKE US!

[F Bastiat]

20. Perhaps GE wanted to be like the half of "the persons" in this country

who pay $0 taxes.

[HughBeaumont]

21. Right wing talking point, and an incomplete one at that.

http://www.nytimes.com/2010/04/14/business/economy/14leonhardt.html

Stop spreading the notion that the poor "have it easy".

[F Bastiat]

24. It is nothing more than a statistic--you have given it "life."

Moreover, "have it easy" is a relative term; however, I could find no mention of it in my post.

[Guy Whitey Corngood]

23. "Why" is the persons in "quotations"?

:rofl:

[F Bastiat]

25. I will tell you, if you tell me "why"

:hi:

[Guy Whitey Corngood]

26. Oh I was just making fun of you. Which is why I also typed "quotations". Now you.

[F Bastiat]

29. I was just making fun too.

They want to be persons? PAY TAXES LIKE US!

Well, half of "US PERSONS" pay $0 taxes.

[Guy Whitey Corngood]

31. It's still bullshit even if you say it a second time. The quotes around

persons still make no sense. I'd look into the proper usage if I were you.

:hi: right back at ya!

[F Bastiat]

35. Actually, it's a fact. I'd do a little research if I were you.

:hi:

[Guy Whitey Corngood]

37. "$0 taxes" third time, fourth time hey say it 50 times. Still not true. If by research you

mean reading right wing blogs. Well that's a whole other matter. :crazy: :wtf: :thumbsdown: :shrug:

[F Bastiat]

41. Check out the CBO.

I'm not suggesting that their numbers are infallible; however, both parties (facsimiles) view them with the most credence.

In any case, their numbers validate my statement as a statistical fact.

[Guy Whitey Corngood]

42. "0 taxes" as you claim is complete and utter bullshit. It is aright wing talking point.

And not a very clever one.

[F Bastiat]

43. Well then, just do the math on a family of four making $50,000.

"The family" is entitled to a standard deduction of $11,400 and four personal exemptions of $3,650 apiece, leaving a taxable income of $24,000. The federal income tax on $24,000 is $2,769.

If the two children are younger than 17, the family qualified for two $1,000 child tax credits. The family's Making Work Pay credit is $800, if the parents were married filing jointly.

The $2,800 in credits exceeds the $2,769 in taxes, so the family earns a $31 profit from the federal income tax.

And then...there are the people who have no income...

[Guy Whitey Corngood]

44. First of all everybody with an income pays some type of tax. You used the ol' federal income tax

argument (without actually saying federal)to make a right wing argument about "freeloaders". Funny that known sociopath Allen West tried to use the same weasel words and got it wrong. Not to mention that you really outed yourself with comments below about people who are barely making ends meet being ungrateful.

Oh and people with no income don't blah blah blah... well no shit Sherlock. Those fuckers yeah let's get 'em.

http://www.politifact.com/florida/statements/2010/apr/28/allen-west/west-says-nearly-half-americans-pay-no-taxes/

[F Bastiat]

46. Well, if you are suggesting that mathematical calculations are right wing arguments,

there is not much else to say.

Be sure to warn everyone about the right wing propaganda buried in the pages of their children's algebra books. :hi:

[Guy Whitey Corngood]

47. Nope, your weasel words about half the people paying 0, none, zip taxes at all

is right wing bullshit not so cleverly disguised. I actually encourage you to start out slowly with children algebra then take baby steps for a few years (nothing too drastic I don't want you to hurt yourself) until you're qualified to make arguments about taxation.

[StarsInHerHair]

62. not you guy, the troll

nt

[Guy Whitey Corngood]

64. I wonder what kind of property taxes one pays when living

under a bridge. :evilgrin:

[StarsInHerHair]

61. DUMBO talking points-YOU FORGOT sales taxes!!!

nt

[Gormy Cuss]

52. There are no CBO numbers that validate your statement as statistical fact.

The CBO's estimate for Federal tax burden on households (which is the way they aggregate, not "persons") shows that even the lowest income quintile pays Federal tax, usually in the form of payroll taxes.

[Guy Whitey Corngood]

53. "He's dead Jim"

[Gormy Cuss]

54. Yeah, but it still needed to be said

in case there are any non-troll DUers who don't understand this distortion.
Meant to include a link:
http://www.cbo.gov/publications/collections/tax/2010/graphics.cfm

[Guy Whitey Corngood]

56. Please don't misunderstand. I'm always for getting the information out. I was just gloating.

:evilgrin:

[Gormy Cuss]

57. Gloating? Were you somehow responsible?

:evilgrin:

[Guy Whitey Corngood]

58. Why I never, you my good sir have

insulted me.... :toast:

[RUMMYisFROSTED]

28. No person pays $0 taxes.

[F Bastiat]

30. But some pay $0 Federal taxes.

[RUMMYisFROSTED]

32. Correct. It's called an Income Tax for a reason.

Because you have to have income to pay them. :think:


Are you actually bitching that the unemployed and working poor don't pay federal taxes?

[Guy Whitey Corngood]

33. You are correct sir. nt

[F Bastiat]

34. Actually, I am not bitching. But if I were, it would be because they are so damn unappreciative

for what is given.

A simple "thank you" would be nice every now and again.

[RUMMYisFROSTED]

36. Where are their thanks?

They fill your state tax coffers at a disproportionate rate. They do the jobs that you raise your nose at.

Thanks are in order but you've got it backwards.

[Name removed]

38. Deleted message

Sub-thread removed by moderator. Click here to review the message board rules.

[F Bastiat]

39. I will be sure to thank the perpetrator if I am ever robbed or assaulted.

[aquart]

7. The word is "unpatriotic."

Letting the USA go into debt to pay for wars from which GE profits.

[The Backlash Cometh]

8. Unpatriotic company!

[idlisambar]

9. He's right

I don't know anyone, person or corporation, that doesn't try to minimize their tax payments within the law. It is completely rational for GE to do so just as it is for the rest of us.

The blame lies with our government for setting up a tax code that allows this to happen.

[No Elephants]

11. Corporations are clever to get lawmakers to pass laws that favor corporations.

The biggest return on any dollar a corporation spends comes from money spent on politicians.

"You can look it up."

[SpiralHawk]

12. DraftDodger Newtie Gingrich (R) endorses Tax Dodgers (R)

This is sooooo Republicon: Cesspool Family & Civic Values.

[Hubert Flottz]

13. "using his office to coerce massive campaign donations from people."

Like Bush did?

[tanyev]

14. Almost as clever as the ruses Newtie came up with to cheat on his wife.

It's 1:00 AM, Do You Know Where Newt Is?
http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=439x1085733

[sofa king]

15. Yes, clever like an unhinged sociopath.

[underpants]

19. Poppa Bush's "Jennifer at the State Department"

there was a woman who just always seemed to be anywhere that Poppa Bush went. Supposedly he was warned that he had to give it up if he ever wanted to be President. W was asked what he and his father discussed on the golf course and W said, "P^$$y".

[izquierdista]

16. Much cleverer than Roni Deutch!

[underpants]

17. Well THAT lasted a day

By Newt

[Snoutport]

18. FU newt

pardon my French...

[Bill McBlueState]

22. If this is really his attitude,

I wish Gingrich and everyone who thinks like him could pack up, move to Somalia, and start their own country where nobody pays any taxes and it's a total free-for-all. Let the rest of us keep what we've built over the last few centuries.

[A Brand New World]

40. That is exactly my take on the situation and one that I

repeat many times to people. Although I substitute Somalia with Afghanistan because the people I talk to probably have never heard of Somalia. IDIOTS!

[DCBob]

27. Gingrich is the master of the juicy one-liners that make irresistable headlines for the media..

but these will also be his downfall as many of them are outrageous and indefensible.

[RandomKoolzip]

48. So a huge corporation who, by paying taxes, could help fund the government and keep basic

services afloat, finds underhanded, byzantine ways of getting out of paying taxes: this entity is "clever" and is to be admired.

A person making about 20,000 a year, who can barely make ends meet: FREELOADER!!!

[and-justice-for-all]

49. Fuck you Newt...nt

[alp227]

50. Screw the GRINCH, vote for Obama 2012! n/t

[bullwinkle428]

51. DAMN, I was wondering if the mods all took Saturday off, but the

problem was eventually taken care of!

:evilgrin:

[Zenlitened]

55. Be sure to pick up a copy of Gingrich's new best-seller.

It's a cookbook!

[saras]

59. Zero tolerance

Personally I'd like to see as much tolerance of corporations edging up to the very limit of tax law as we offer to dirty old men who edge up to the very limit of child molesting laws.

[classysassy]

60. The wealthy criminals

want our hard earned money for their wars of aggression and the blood of the military to defend their greed.We supply both and we are a poorer nation for our stupidity.Wake up America the Barbarians are inside the gates.

[yurbud]

63. Newt is a nitwit and totally politically tone deaf

[plumbob]

65. "No tax clever" rearranged is

VENAL CORTEX.


That about sums it up for me.

[sarcasmo]

66. Wrong C word newt, crooked is the word you were looking for.

[silvershadow]

67. Newt probably thinks he is "clever" at this stage...accidentally

projected inner workings. He is so transparent it is actually nauseating.

[silvershadow]

68. oops, I spoke too soon. Looks like he's imploding now. nt