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CORPORATE TAX DEBATE
posted at November 4, 2011 9:21 PM EDT
First: February 29, 2008
Last: May 17, 2013
HEADLINE ----GE leaves USA
General Electric is planning to move its 115-year-old X-ray division from Waukesha, WI, to Beijing. In addition to moving the headquarters, the company will invest $2 billion in China and train more than 65 engineers and create six research centers.
This is the same GE that made $5.1 billion in the United States last year, but paid no taxes- in fact they got money back filing a minus return.....and its the same company that employs more people overseas than it does in the United States.
So the GOP wants to eliminate all taxes on corporations........when so many don't pay anything anyway or next to nothing....and then they take the profits made in the USA and use them to build up Asia.
Senate Republicans successfully blocked a bill from coming to the Senate floor Sept 2010.... that Democrats claim would help keep American jobs from going overseas. The Democratic bill would have ended certain tax breaks for companies expanding overseas while giving new tax incentives to businesses bringing jobs home.