General Electric pays no US taxes
Key Excerpts from Article on Website of Forbes magazine
How can it be that you pay more to the IRS than General Electric?
Forbes magazine, April 1, 2010
Posted: 2010-04-19 00:23:58
http://www.forbes.com/2010/04/01/ge-exxon-walmart-business-w...
Some of the world's biggest, most profitable corporations enjoy a far lower tax rate than you do – that is, if they pay taxes at all. The most egregious example is General Electric. Last year the conglomerate generated $10.3 billion in pretax income, but ended up owing nothing to Uncle Sam. In fact, it recorded a tax benefit of $1.1 billion. How did this happen? It's complicated. GE in effect consists of two divisions: General Electric Capital and everything else. The everything else – maker of engines, power plants, TV shows and the like – would have paid a 22% tax rate if it was a standalone company. It's GE Capital that keeps the overall tax bill so low. Over the last two years, GE Capital has displayed an uncanny ability to lose lots of money in the U.S. (posting a $6.5 billion loss in 2009), and make lots of money overseas (a $4.3 billion gain). Not only do the U.S. losses balance out the overseas gains, but GE can defer taxes on that overseas income indefinitely. It's the tax benefit of overseas operations that is the biggest reason why multinationals end up with lower tax rates than the rest of us.
Note: Forbes later changed the title of this article to a more innocuous "What The Top U.S. Companies Pay In Taxes." Can you believe that GE not only pays no taxes, they actually get credit from the US government? They ship US jobs overseas and then reap huge tax benefits as a result. What's wrong with this picture? For a wealth of media news articles on the hidden manipulations of major financial corporations, click here.
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U.S. Military Wanted to Provoke War With Cuba
2001-05-01, ABC News
http://abcnews.go.com/US/story?id=92662
In the early 1960s, America's top military leaders reportedly drafted plans to kill innocent people and commit acts of terrorism in U.S. cities to create public support for a war against Cuba. Code named Operation Northwoods, the plans reportedly included the possible assassination of Cuban emigres, sinking boats of Cuban refugees on the high seas, hijacking planes, blowing up a U.S. ship, and even orchestrating violent terrorism in U.S. cities. The plans were developed as ways to trick the American public and the international community into supporting a war to oust Cuba's ... Fidel Castro. America's top military brass even contemplated causing U.S. military casualties, writing: "We could blow up a U.S. ship in Guantanamo Bay and blame Cuba," and, "casualty lists in U.S. newspapers would cause a helpful wave of national indignation." The plans had the written approval of all of the Joint Chiefs of Staff and were presented to President Kennedy's defense secretary, Robert McNamara, in March 1962. But they apparently were rejected by the civilian leadership and have gone undisclosed for nearly 40 years. The Joint Chiefs even proposed using the potential death of astronaut John Glenn during the first attempt to put an American into orbit as a false pretext for war with Cuba. Should the rocket explode and kill Glenn, they wrote, "the objective is to provide irrevocable proof ... that the fault lies with the Communists." The scary thing is none of this stuff comes out until 40 years after.
Note: Why was ABC the only major news source to report on this highly revealing story? Read the shocking declassified documents on Operation Northwoods. Many military and political leaders look at the world as a grand chessboard. Sacrificing pawns (innocent civilians) is sometimes necessary to capture the queen. Explore revealing news articles on military corruption. Then check out eye-opening 9/11 news articles.
Inside the secretive Bilderberg Group
2005-09-29, BBC News
http://news.bbc.co.uk/1/hi/world/americas/4290944.stm
How much influence do private networks of the rich and powerful have on government policies and international relations? One group, the Bilderberg, has often attracted speculation that it forms a shadowy global government. Every year since 1954 [they have brought] together about 120 leading business people and politicians. At this year's meeting in Germany, the audience included the heads of the World Bank and European Central Bank, Chairmen or Chief Executives from Nokia, BP, Unilever, DaimlerChrysler and Pepsi ... editors from five major newspapers, members of parliament, ministers, European commissioners ... and the queen of the Netherlands. The chairman ... is 73-year-old Viscount Etienne Davignon. In an extremely rare interview, he played down the importance of Bilderberg. "I don't think (we are) a global ruling class because I don't think a global ruling class exists." Will Hutton ... who attended a Bilderberg meeting in 1997, says people take part in these networks in order to influence the way the world works, to create what he calls "the international common sense". And that "common sense" is one which supports the interests of Bilderberg's main participants. For Bilderberg's critics the fact that there is almost no publicity about the annual meetings is proof that they are up to no good. Bilderberg meetings often feature future political leaders shortly before they become household names. Bill Clinton went in 1991 while still governor of Arkansas, Tony Blair was there two years later while still an opposition MP. All the recent presidents of the European Commission attended Bilderberg meetings before they were appointed. Informal and private networks like Bilderberg have helped to oil the wheels of global politics and globalisation for the past half a century.
Note: Why is this meeting of top world leaders kept so secret? Why, until a few years ago, was there virtually no reporting on this influential group in the major media? Thankfully, the alternative media has had some good articles. And a Google search can be highly informative. Explore many other revealing major media news articles on powerful secret societies. And for those interested, check out reliable, eye-opening information covering the big picture of how and why these secret societies are using government-sponsored mind control programs to achieve their agenda.
[9/11] Hijack 'suspects' alive and well
2001-09-23, BBC News
http://news.bbc.co.uk/1/hi/world/middle_east/1559151.stm
Another of the men named by the FBI as a hijacker in the [9/11] suicide attacks on Washington and New York has turned up alive and well. The identities of four of the 19 suspects accused of having carried out the attacks are now in doubt. Saudi Arabian pilot Waleed Al Shehri was one of five men that the FBI said had deliberately crashed American Airlines flight 11 into the World Trade Centre on 11 September. His photograph was released, and has since appeared in newspapers and on television around the world. He told journalists there that he had nothing to do with the attacks. He has contacted both the Saudi and American authorities. He acknowledges that he attended flight training school at Daytona Beach in the United States, and is indeed the same Waleed Al Shehri to whom the FBI has been referring. But, he says, he left the United States in September last year [and] became a pilot with Saudi Arabian airlines. Abdulaziz Al Omari, another of the Flight 11 hijack suspects ... says he is an engineer with Saudi Telecoms, and that he lost his passport while studying in Denver. Meanwhile ... a London-based Arabic daily says it has interviewed Saeed Alghamdi. He was listed by the FBI as a hijacker in the United flight that crashed in Pennsylvania. And there are suggestions that another suspect, Khalid Al Midhar, may also be alive. FBI Director Robert Mueller acknowledged on Thursday that the identity of several of the suicide hijackers is in doubt.
Note: The deceptions in the 9/11 official story are clearly shown in this key story. The FBI never revised its list of alleged hijackers. These four are all listed in the official 9/11 Commission report as the hijackers. Click here and scroll down a little over half way to see their photos in the official report. For more, see this webpage. Explore also concise summaries of deeply revealing news articles with evidence of a 9/11 cover-up from reliable major media sources. Then examine an abundance of reliable information suggesting a major 9/11 cover-up.
The above three are excerpts from the 20 most revealing news articles ever published.
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Real Government Efficiency: How to 'Actually' End Debt and Restore America's Financial Sovereignty
2025-03-04, Dennis Kucinich on Substack
https://kucinichreport.substack.com/p/real-government-efficiency-how-to
DOGE has fixated on slashing essential government programs in the name of fiscal responsibility. Yet, in order for it to truly serve our nation, it is urgent that it address the ossified, structural reality of our present financial system, which has been designed to manufacture deficits to the benefit of private banks. How is money created? Who creates it? Why are we locked into perpetual debt? Government borrowing, spiraling national debt, and the accompanying tax burden on the American people are not the result of overspending on public services. Rather, they stem from the privatization of the money supply, a system enshrined by the Federal Reserve Act of 1913, which handed the power of money creation to private banks, ensuring their profits through the simultaneous creation of the federal income tax. The U.S. Constitution, Article 1, Section 8, Clause 5, granted Congress the power to create money, yet that power was appropriated. With the passage of the Federal Reserve Act, the constitutional power to coin money was appropriated by private banks. The creation of the federal income tax, through the 16th Amendment to the Constitution ... guaranteed the money borrowed from them by the government would be repaid through the imposition of the federal income tax. This reduced to people of the United States to being collateral for the debt which the country owed to the banks. The Federal Reserve expands the money supply by creating more debt. It has created trillions of dollars of money out of thin air, for the benefit of banks. Inflation ensues. Inflation is a hidden tax which erodes consumers purchasing power, causing people to take on more debt.
Note: This was written by Dennis Kucinich, former Democratic congressman and nationally recognized leader in peace and social justice. For more along these lines, read more about the history of the Federal Reserve, along with concise summaries of news articles on financial system corruption.
Americans borrowed $74 billion last year to cover their health care costs
2025-03-06, CBS News
https://www.cbsnews.com/news/health-care-costs-medical-debt-americans-borrowing/
Health care is so expensive that 31 million U.S. adults, or 12%, had to borrow a total of $74 billion last year to obtain medical care, new data shows. That includes people with health insurance, making such numbers even more troubling. Almost one-third of the more than 3,500 people surveyed by Gallup and West Health, a group of nonprofit health care organizations, said they're "very concerned" that a major health event would lead to medical debt despite most of them having some form of health care coverage. To avoid taking on debt, families sometimes make tradeoffs, such as purchasing fewer groceries or not paying rent in order to get the care they need. Nearly one in five adults between the ages of 18 and 28 reported borrowing money to pay for health care, according to the survey. Only 9% of Americans between 50 and 64 and 2% of those 65 or older reported having to borrow money to obtain needed medical care. "There are a lot of disparities in terms of who borrows," [Tim Lash, president of West Health] said. That's in part because Medicare, which is available to people who are 65 or older, provides enrollees with relatively comprehensive coverage. As of mid-2024, U.S. residents owed at least $220 billion in medical debt, according to data from the American Hospital Association. Health care bills have for years been a leading cause of personal bankruptcies.
Note: Two-thirds of personal bankruptcies in the US are caused by illnesses and medical bills. For more along these lines, read our concise summaries of news articles on health and financial inequality.
You've Already Paid for Overpriced Weight-Loss Drugs
2025-03-06, Jacobin
https://jacobin.com/2025/03/weight-loss-drugs-price-health
US taxpayers spent an estimated $6 billion researching, developing, and implementing new blockbuster weight-loss drugs. Yet Americans are now paying pharmaceutical giants – including one in Denmark – up to eleven times more for these medicines than patients in other countries, markups that are inflating consumers' insurance premiums and risk bankrupting the country's health care system. According to data shared with the Lever by researchers at Bentley University, the federal government spent $6.2 billion from 1980 to 2024 on the discovery and development of glucagon-like peptide-1 (GLP-1) molecules, as well as research on how to use GLP-1 drugs to treat diabetes, obesity, and other diseases. GLP-1, a hormone that regulates blood sugar, was the foundation of the diabetes drug Ozempic, whose 2017 approval by the Food and Drug Administration (FDA) launched a wave of other GLP-1-based diabetes and weight-loss medications coming to market. More than fifteen million people nationwide currently take GLP-1-related drugs like Ozempic, bringing in more than $50 billion in sales for pharmaceutical companies in 2024 – much of which went to the Danish pharmaceutical company Novo Nordisk. A Senate report ... found that if half of all Medicare and Medicaid patients with obesity took Wegovy and other GLP-1 weight-loss drugs, it could cost the federal health care system $166 billion per year.
Note: The makers of these weight-loss drugs could be hit with over 10,000 lawsuits over severe adverse events from these drugs. For more along these lines, read our concise summaries of news articles on corruption in government and in Big Pharma.
The above three are excerpts from the news stories most recently posted to this website.
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