GE needs some Good American thawing of Immelt.
By: Guest Authors
By: Dr. Phil Taverna
Everyone is screaming because GE made so much money but paid no money in taxes to the United States. If GE was a true American company paying no taxes would that be a Bad thing? But Jeffrey Immelt is not well liked in the United States. He was still doing business with Iran when sanctions were in place. He helped to win the election for Obama by using ABC and its affiliates as Obamaâ€™s campaign headquarters. They succeeded in presenting a fake picture of a fake president and he won!
But Immelt is Obamaâ€™s jobs czar and that doesnâ€™t make any sense, does it?
So letâ€™s roll back a few decades and imagine GE as a true American company. That means it is headquartered in America and all the jobs are based in the United States. So that means that all the factories, distribution centers and whatever it takes to run such a large American company is located in the United States. Then and only then do all the jobs go to Americans. Back then most GE workers were actually American citizens. And for the most part all these workers were well paid and received great benefits.
So letâ€™s fast forward to today. With Immelt at the helm GE had profits in the $15 billion dollar range. So what does that mean? That means that after Immelt made his $15.2 million and all the other executives made their salaries and all the expenses and payrolls were paid, GE still had a $15 billion dollar profit in one year! We should congratulate Immelt for his ability to accomplish such a feat.
But how many American jobs has Immelt moved to other countries to make such a huge profit? Does this make him an American Patriot? So letâ€™s say for argument sake that Immelt moved a million American jobs to China. And this allowed GE to make the $15 billion dollars in profit. Now he turns around and sells these products back to the United States for maybe less then it would have cost to put in on the shelf if it was made in the United States. From these American sales he makes $5.1 billion dollars.
For all those liberal union members out there look at it this way. Letâ€™s take Annie the fastener that used to work at GE. She used to make $40,000 a year in salary and overtime and another $ 10,000 a year in benefits. From this revenue Annie was able to pay American taxes, buy all sorts of American goods and services. Take Annieâ€™s effect on the American economy and multiply it by a million and imagine all that American revenue being moved to China by GE.
Can you see why tariffs might be an answer to the problem? Not only is Immelt not paying taxes because he has connections in the Whitehouse, but he has sold out our American economy to the Chinese.
The liberals will tell you but you will be able to buy cheaper products because it can be made with cheap Chinese labor! But think about it. Look at all the American revenue that has been lost to the Chinese. If they gave us the Chinese products for FREE like Obamacare it still would not help the economy.
This is the part of the equation that the public unions and wackos like Moore donâ€™t get. Once this money leaves the country which it already has, there is not enough money in the rich that will ever replace that money. And if any liberal thinks that the rich are going to stay around to find out, they are going to do the same thing that Immelt did. The rich are going to move their wallets out of America.
So it is time for America to take responsibility and grow up.
Letâ€™s go back to GE for a second. Immelt will have to pay taxes on his $15.2 million dollars. People seem to forget that fact. Assuming he hasnâ€™t paid millions to an American tax lawyer he might pay $5 million dollars in taxes. Thatâ€™s not too shabby. Wouldnâ€™t you like to write a check that large to the American government? I am sure they will spend it wisely for you.
So there might not really be a problem if a company like GE does not have to pay taxes. As long as the corporation is totally based in the United States and all its workers are in the United States, who really cares?
If GE still had 3 million workers in the United States they would be paying a great deal of money as taxes to the United States. They would be paying revenue into all the entitlement programs like social security.
They would be paying their fair share into the American healthcare programs. This would result in driving down the cost of healthcare, entitlements and taxes.
So you can see when folks like Immelt and Obama are talking about a global economy, they are really talking about sending your jobs, your money, and all the revenue that could be spent on entitlements and healthcare to other countries.
You can be the dumbest person on the planet, and you would still know that doing stupid things like that will not help America prosper. In the end guys like Obama and Immelt will prosper, but you wonâ€™t. Do you think just maybe it is time to think American!
Do you really want a guy like Immelt making policy in the United States when it concerns American Jobs, at the same time that he is procuring a fortune making American products in China? It doesnâ€™t make sense does it?
Maybe itâ€™s time to send the global liberals packing. Just like foreign oil, if we stop buying the Chinese products the American economy will grow exponentially!