Sunday, March 27, 2011

Getting Caught Is The Only No No - 2

The first episode in this series dealt with the Enron type of accounting conducted by the largest US corporation, General Electric (GE).

GE built at least one of the Japanese Nuclear Power Plants that is now in trouble.

GE made $14,200,000,000 dollars last year, about a third of that amount in the USA, so GE is two thirds foreign corporation.

With all the talk about high taxes by Republicans and the capitulation to that rhetoric by the Democrats, to then grant tax breaks to the richest 1%, one would think GE was paying hefty taxes:
General Electric, the nation’s largest corporation, had a very good year in 2010. The company reported worldwide profits of $14.2 billion, and said $5.1 billion of the total came from its operations in the United States.

Its American tax bill? None. In fact, G.E. claimed a tax benefit of $3.2 billion.
(GE Pays No Tax). Not only did GE pay no taxes, in effect IRS gave them an additional $3,200,000,000, on top of GE's billions in profit, from the treasury of the people, those who do pay taxes.

GE keeps up its image by owning a vast propaganda network with which they deceive the public, such as claiming US taxes are too high so they could get the largest tax breaks for the 1% wealthy.

Until recently, that propaganda engine included MSNBC and Morning Joe, which we call Blind Willie McTell.

It is unclear what effect (other than firing Keith Olbermann) the sale of NBC to Comcast will have on the vast GE propaganda system.


  1. Arizona is following suit, changing tax laws which will cut taxes for wealthy, raise them for the poor.


  2. Speaking of getting caught, there are reports of US troops on the ground in Libya:

    "So we hear special forces are already on the ground in Libya. True, Col. Hunt? ... Yes, absolutely. You've got British service been in there about three weeks ago and actually got captured and released. The French GIGN have been in there and our special forces and our U.S. intelligence operatives and their assets. We do not conduct operations like this, large scale air operations, without people on the ground. They have been very successful, very good, not a lot of contact with the rebels because you don't know who to talk to. But, yes, we have got intel gathering and rescue guys and special operations guys on the ground, have had them for about 12 days ... Now, do you agree with that, Col. Shaffer? ... Yes, I have heard from my sources -- I got a call from one of my key sources on Monday and that's exactly what's going on."


    But of course they are not "ground troops" and this is not a "war" ...

    Some language is coming out in news reports that characterize the struggle as one for oil control:

    "["Libyan rebels"] took back a key oil town and pushed westward Sunday toward the capital, seizing momentum from the international airstrikes that tipped the balance away from Muammar Gaddafi's military."


    GE builds the engines etc. on lots of those war machines.

  3. GE is also part of the foreign influence cartel that seeks to control US politics from afar, as pointed out in the Dredd Blog Post The Chamber of Corruption - 3

  4. Today we hear that again there will be no SS COLA. What that means is disabled and those retired will be underwriting this new undeclared war. Since Congress did not allot money for the war, and the pentagon claimes they do not need extra money, and since money is fungible, never mind shadow accounting, and since we are aproaching double digit inflation that our gov is lying about, the cost of the gadaffy missles is being taken out of the hides of seniors while the investers reap record tax free profits.

    Cooked goose anyone?