Washington's Craft with Big Business--- General Electric

Who said Barack Obama and his administration would never develop any intimate liaisons with certain big businesses and lavish them with benefits so inequitable to small businesses in America? What instantaneously comes to mind when the names General Electric and Jeffery Immelt are mentioned? Jeffery Immelt is the CEO of this ever-expanding gigantic corporation and was appointed to be the head of Barack Obama’s Council on Jobs and Competitiveness as remuneration for demonstrating such outstanding public support for Obama’s policies. Publicly, Immelt has mirthfully expressed his vision and goal for generating job growth and being a “sounding board for ideas and a catalyst for action on jobs and competitiveness.” His vision has involved outsourcing jobs and transferring infrastructure to China. Is this not absolutely brilliant? The Obama administration is helping to create jobs after all….in other countries that is, at the expense of the United States being demoted to fifth place in economic competitiveness among every other nation of the world, according to the World Economic Forum. 

The truth of the matter is, even before Obama, America was in a steady decline in manufacturing jobs from 19.5 million in 1979 to 11.6 million in 2010, amounting to a 40 percent decline in total. Notwithstanding, Obama and his minions, in tandem with their predecessors, have been proud cultivators of globalization. 

Unemployed people are lamenting about joblessness and being left with a paucity of job opportunities and current workers are struggling to put food on their tables, because of our ever-expanding big government colluding with big corporations in outsourcing jobs and integrating America’s economy with our world leaders’ scheme of globalization. The story involving the last General Electric factory manufacturing American-made incandescent lightbulbs that was shut down in September of 2010 in Winchester, Virginia and the many  jobs that were lost therein is quintessential of what is happening in America and abroad. Rather than allowing the manufacturing of replacement lightbulbs to create jobs here in America, it is more profitable for the globalists to have the leading replacement lights be the compact fluorescent lights (CFLs) to be made in China where the hand labor in giving the glass tubes their spiral shape is much cheaper.

http://www.washingtonpost.com/wp-dyn/content/article/2010/09/07/AR2010090706933_2.html?sid=ST2011013003428

Earlier during Obama's tenure in office, General Electric’s lobbying firm, GEPAC, contributed $2.4 million to Democrats in their scheme to have the Congress pass a cap-and-trade piece of legislation. In being America’s principal aircraft engines producer under the new greenhouse gas emissions standards that would be enacted with the bill, General Electric was intended to be the foremost beneficiary amongst everyone else who would be affected by the bill. Since this cap-and-trade bill failed to pass, there was a reduction in demand for Immelt’s jet engines in America. So, Immelt appended his signature to a contract with Chinese Communists to manufacture engines in China thereby having American aviation production and services be chiefly controlled by the hands of our biggest creditor and economic rival.

General Electric is the world’s primary purveyor for medical-imaging machines. With its 115 year old X-ray business headquarters being sent to Beijing where a handful of top managers and thousands of healthcare employees will also be outsourced with it, China will be furnished with more means to continue out-vying the United States and helping to maximize America's codependency in sucking on the bosom of China.

http://www.bloomberg.com/news/2011-07-25/ge-healthcare-moves-x-ray-base-to-china-no-job-cuts-planned.html

Let us also keep in mind the $75 million in taxpayer money that General Electric was given and has expended in constructing “smart meters” that will foist hazardous effects on public human health, colossally increase the cost of household electricity and monitor and control how often people can use their utilities on a daily basis. That ought to be of such great consolation to us the taxpayers, should it not?

http://stopsmartmeters.org/why-stop-smart-meters/

Many of our media’s moguls have controverted over the issue of General Electric exploiting loopholes in the tax code and just exactly how many taxes they have evaded and for how long. Many conflicting reports have inundated the internet, and it has been difficult to ascertain the absolute truth. According to the websites I cited below, this monolith of a business in 2010 announced its acquisition of $14.2 billion in profits, a 77 percent increase from the previous year, $9 billion of which were acquired overseas and were not at all touched by the 35 percent United States corporate tax rate. General Electric’s U.S. earnings were not taxed at all. In addition to not paying taxes on $5.1 billion in U.S. earnings in 2010, General Electric received a $3.2 billion corporate tax credit and a 57,000 page-long corporate tax return “for investment in low-income housing, green energy, and research and development, as well as depreciation of property.” In being the greatest corporate tax department the world has ever known, General Electric is craftier in navigating the labyrinth of corporate tax regulations than any other multinational corporation.

http://abcnews.go.com/Politics/general-electric-paid-federal-taxes-2010/story?id=13224558#.UHPPZ1GlvAU

http://www.weeklystandard.com/blogs/ge-filed-57000-page-tax-return-paid-no-taxes-14-billion-profits_609137.html