Comments on: GE: Extend Clean Energy Tax Credits Or We’ll Go To Germany, China http://www.environmentalleader.com/2008/09/15/ge-extend-clean-energy-tax-credits-or-well-go-to-germany-china/ Environmental Leader Fri, 25 May 2012 21:00:16 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: Doug http://www.environmentalleader.com/2008/09/15/ge-extend-clean-energy-tax-credits-or-well-go-to-germany-china/comment-page-1/#comment-312184 Doug Mon, 04 Apr 2011 19:46:00 +0000 http://www.environmentalleader.com/2008/09/15/ge-extend-clean-energy-tax-credits-or-well-go-to-germany-china/#comment-312184 "Why are my tax dollars supporting a huge corporation anyway?" An interesting question - but we should be more focused on other examples. This question can, and should, be asked in the case of oil giants like Exxon Mobil and BP. These entities receive billions in tax credits annually - even though they are extremely profitable and have been around for many decades. “Why are my tax dollars supporting a huge corporation anyway?”

An interesting question – but we should be more focused on other examples. This question can, and should, be asked in the case of oil giants like Exxon Mobil and BP. These entities receive billions in tax credits annually – even though they are extremely profitable and have been around for many decades.

]]> By: Kim O'Connor http://www.environmentalleader.com/2008/09/15/ge-extend-clean-energy-tax-credits-or-well-go-to-germany-china/comment-page-1/#comment-312153 Kim O'Connor Mon, 04 Apr 2011 17:26:26 +0000 http://www.environmentalleader.com/2008/09/15/ge-extend-clean-energy-tax-credits-or-well-go-to-germany-china/#comment-312153 It's now 2011 and GE has reported 14 billion dollars in profits for 2010. But more than half of those profits were made overseas. It's clear that GE benefited from the renewal of the the production tax credit. What's appalling to me is that U.S. tax payers helped boost GE's profits through these tax credit, yet GE will not have to pay U.S. taxes on a large portion of these profits which were made overseas. It's ridiculous to read that GE once threatened to take their operations overseas if they do not receive tax credits, but in 2010 their overseas operations were the most profitable and U.S. tax payers won't see any benefits from these profits. As a tax payer I feel I supported GE through this tax credit, but now they don't have to pay a fair tax on their profits. GE also feels okay with initiating pay freezes and scaling back health benefits to its employees. This is a quintessential example of why these huge corporations should not receive a dime from the american tax payer. Why are my tax dollars supporting a huge corporation anyway? They have enough profits to invest and develop new ventures in the renewable energy market. They don't need "tax credits" which is just code for free money from the government. GE snatched up a ton of these tax credits which could have benefited small businesses in America that truly need help developing, growing and thus creating new jobs in America. It’s now 2011 and GE has reported 14 billion dollars in profits for 2010. But more than half of those profits were made overseas. It’s clear that GE benefited from the renewal of the the production tax credit. What’s appalling to me is that U.S. tax payers helped boost GE’s profits through these tax credit, yet GE will not have to pay U.S. taxes on a large portion of these profits which were made overseas. It’s ridiculous to read that GE once threatened to take their operations overseas if they do not receive tax credits, but in 2010 their overseas operations were the most profitable and U.S. tax payers won’t see any benefits from these profits. As a tax payer I feel I supported GE through this tax credit, but now they don’t have to pay a fair tax on their profits. GE also feels okay with initiating pay freezes and scaling back health benefits to its employees. This is a quintessential example of why these huge corporations should not receive a dime from the american tax payer. Why are my tax dollars supporting a huge corporation anyway? They have enough profits to invest and develop new ventures in the renewable energy market. They don’t need “tax credits” which is just code for free money from the government. GE snatched up a ton of these tax credits which could have benefited small businesses in America that truly need help developing, growing and thus creating new jobs in America.

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