17512 Columbia

money talks; the rest of us walk

So while flipping through the pages of the May, 2011 AARP Bulletin, we were stopped by the article that says that “General Electric paid not one penny in federal tax for 2010 on the profits from its U.S. corporations.” Astounding … particularly since the corporation posted $5,100,000,000 (count the zeros) in U.S. profits in 2010.

How much were your taxes on your billions? Bet you paid more and earned a lot less! Yeah, we, too.

Oh, yeah … GE does make hefty contributions to lobbyists and politicians to insure that the tax system remains favorable. According to OpenSecrets.org, “General Electric is one of the world’s most diverse companies, dabbling in virtually every industry under the sun. Among other things, it manufactures aircraft engines, locomotives, household appliances, light bulbs and plastics. It builds and operates nuclear reactors, while its consumer finance arm ranks as one of the biggest financial services companies in the nation. GE is also the parent company of the NBC television network. With so many subsidiaries offering so many different products and services, it’s no surprise that GE keeps close watch over everything Congress does, from defense appropriations to campaign finance legislation and its effects on broadcasters.”

In 2010, GE contributed at least $2,025,571 to politician accounts; GE spent $9,080,000 on “lobbyists.”

In 2010, GE was only the third biggest buyer of politicians and lobbyists; here is the list of the biggies (and, notice that AARP spends a lot of money buying political favors, too). Notice the list of the top 20, these categories dominate:

  • Business interests;
  • Pharmaceutical interests
  • Healthcare interests;
  • Defense contractor interests;
  • Telecommunications interests and
  • Energy interests

How much did you spend to buy your elected “public servant?” Your lobbyist? Thought so; we, too. Our money goes to food, shelter, gas, utilities, healthcare, taxes and maybe a few bucks into savings.

Think we can influence our “elected public officials” to change the rules and get everyone to pony up and get a fair tax system?

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