General Electric Profited 14.2 Billion in 2010 and PAID NO TAXES

By David Kocieniewski
NEW YORK TIMES

Although the top corporate tax rate in the United States is 35 percent, one of the highest in the world, companies have been increasingly using a maze of shelters, tax credits and subsidies to pay far less.

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.

That may be hard to fathom for the millions of American business owners and households now preparing their own returns, but low taxes are nothing new for G.E. The company has been cutting the percentage of its American profits paid to the Internal Revenue Service for years, resulting in a far lower rate than at most multinational companies.

Its extraordinary success is based on an aggressive strategy that mixes fierce lobbying for tax breaks and innovative accounting that enables it to concentrate its profits offshore. G.E.’s giant tax department, led by a bow-tied former Treasury official named John Samuels, is often referred to as the world’s best tax law firm. Indeed, the company’s slogan “Imagination at Work” fits this department well. The team includes former officials not just from the Treasury, but also from the I.R.S. and virtually all the tax-writing committees in Congress.

While General Electric is one of the most skilled at reducing its tax burden, many other companies have become better at this as well. Although the top corporate tax rate in the United States is 35 percent, one of the highest in the world, companies have been increasingly using a maze of shelters, tax credits and subsidies to pay far less.
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WikiLeaks Billboard In Los Angeles

At some point governments and corporations must have accountability for their actions, just like individuals.

Via LATaco.com: A billboard with the spectre of Julian Assange looms over the intersection of Highland Avenue and Santa Monica Boulevard in Hollywood. The sign, supportive of WikiLeaks, says “WikiLeaks: Giving Us The Truth When Everyone Else Refuses To.”

The billboard is the work of “Nick J.” and the 196 supporters of his cause on EpicStep.com, a social fundraising site that specializes in billboard campaigns. Almost all aspects of the billboard were crowdsourced; Nick J. solicited suggestions for the message and graphics, and afterward invited users to decide among three proposed billboard designs.

Nick J. lives in Los Angeles and is studying to be a chiropractor. When asked why he spearheaded the campaign, he said to the Huffington Post: “At some point governments and corporations must have accountability for their actions, just like individuals. If there is no one monitoring their actions, how can we assume that they will act in the our best interests? I feel our government has been less than honest with its people.” He also added, “It’s not just L.A. that needs to see this message. I would love nothing better than to see this billboard in major cities throughout the nation. Chicago is next.”

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See How Chevron & Shell Destroy The People and Environment of Nigeria

Must See Documentary:

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Chavez: Life On Mars Ended By Capitalism

REUTERS

CARACAS (Reuters) – Capitalism may be to blame for the lack of life on the planet Mars, Venezuela’s socialist President Hugo Chavez said on Tuesday.

“I have always said, heard, that it would not be strange that there had been civilization on Mars, but maybe capitalism arrived there, imperialism arrived and finished off the planet,” Chavez said in speech to mark World Water Day.

Chavez, who also holds capitalism responsible for many of the world’s problems, warned that water supplies on Earth were drying up.

“Careful! Here on planet Earth where hundreds of years ago or less there were great forests, now there are deserts. Where there were rivers, there are deserts,” Chavez said, sipping from a glass of water.

He added that the West’s attacks on Libya were about water and oil reserves.

Earlier this month, the U.S. National Research Council recommended that NASA’s top priority should be a robot to help determine whether Mars ever supported life and offer insight on its geological and climatic history.

It would also be the first step in an effort to get samples from Mars back to Earth.

A NASA team recently tested a space suit in a setting with extreme conditions akin to some of those found on Mars — an Argentine base in Antarctica — for possible use on a visit to the Red Planet.

(Writing by Frank Jack Daniel; Editing by Daniel Wallis)

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The US: Waking up to class politics

By Ari Paul
AL JAZEERA

As a result of this stand-off being one of the top domestic news stories in the country, Americans are beginning to see that unions are not the enemy of the economy like conservative pundits and business titans argue, but instead a force for one of the most patriotic things of all: A decent living for the average family.

A popular item is going around in emails and Facebook pages among the people who are in solidarity with the workers protesting against anti-labour legislation in Wisconsin: A CEO, a union worker and a Tea Partier (a member of the emerging right-wing political movement) are at a table with 12 cookies. The CEO takes 11 and says to the Tea Partier: “Keep an eye on that union guy, he wants your cookie.”

Republican governor of Wisconsin Scott Walker’s proposal not only to have state workers contribute more of their pay to their health and retirement funds – which are above the standards in the private sector – but to take away their basic right to collectively bargain would lead to the eventual destruction of these labour organisations.

Other governors may attempt to do the same, and it appears that similar legislation in nearby Ohio will succeed.

A public-relations campaign bankrolled by business groups and billionaires like the arch-conservative Koch brothers is aimed nationwide at not only pinning the blame for state budget deficits on its hard-working employees and their union leaders, but to tap into the envy many private sector workers and the unemployed have toward civil servants who have decent benefits.

Like crabs in a bucket, the theory goes, lower-paid workers will want to pull their union counterparts down.

Since the Reagan administration, class politics in the US has waned; the Republican Party benefits from the fact that many lower-income citizens vote against their economic interests because they oppose the social liberalism of the Democratic Party.

Many vote against tax increases on the rich, because even if they themselves are not wealthy, there is a tiny chance they one day will be. There is also the prevailing mythology that the wealthy class earned their place and should not be punished.

If anything comes out of this showdown in the capital city of Madison – where thousands of workers have protested every day for weeks and Democratic politicians have stalled the bill by fleeing the state – it is the reemergence of old-school union tactics, such as a possible general strike in Wisconsin, and the fact that more and more Americans might sympathise.

Nationally, it looks as if the strategy to pit workers against each other may not be succeeding.

The New York Times reported on February 28 that its poll found that “a majority of Americans say they oppose efforts to weaken the collective bargaining rights of public employee unions and are also against cutting the pay or benefits of public workers to reduce state budget deficits.”

It continued: “Given a list of options to reduce the deficit, 40 per cent said they would increase taxes [and] 22 per cent chose decreasing the benefits of public employees.”

Walker, too, has been a unifying figure for workers, especially when he admitted last month to a prank caller pretending to be one of his benefactors that he contemplated planting “troublemakers” in the demonstrations. And to stay politically viable, Walker eventually excluded police officers and firefighters from the draconian legislation. But the harm was done.

When he called on cops to remove protesters from the Capital building, they refused to do so, standing in solidarity with the other workers. Both the governor and the young progressive activists in Madison, accustomed to thinking of the police as their adversaries, got a good lesson in labour politics.

It is also true that Wisconsin was not the best place for the right to start a new front in the class war.

Despite creating conservative politicians like Walker and, during the Cold War, the now disgraced anti-communist zealot Joe McCarthy, the state’s conservative population is matched by a progressive community unlike others in the country.

The state’s largest city, Milwaukee, has had three socialist mayors. The state’s capital, home to a feisty student activist movement at its large state university, is often called The People’s Republic of Madison. The state’s professional football team, the reigning national champions from the working class area of Green Bay, is a citizen-owned team, and many of its players have come out in support of public workers.

As a result of this stand-off being one of the top domestic news stories in the country, Americans are beginning to see that unions are not the enemy of the economy like conservative pundits and business titans argue, but instead a force for one of the most patriotic things of all: A decent living for the average family.

That is not to say that unions should always be immune from cutbacks in hard times. Unions can, and do, make such concessions when their management counterparts cut the fat at the top.

But Walker has no interest in raising taxes on the wealthy or bargaining in good faith. And like the proposals of other governors around the country – like Chris Christie of New Jersey, the super-star of the new anti-public-sector union movement – Walker’s will not actually relieve the state of its budget woes any time soon.

More Americans may be waking up to class politics. The question is, then, as the Republicans are ramping up their assault on union workers, how will labour leaders make use of this new political capital?

Ari Paul has written about labour for US publications including The Nation and The American Prospect. He also edits the Unionist, a monthly magazine for public sector workers in New York City.

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The Left Right Paradigm is Over: Its You vs. Corporations

By Barry Ritholtz
The Big Picture

Every generation or so, a major secular shift takes place that shakes up the existing paradigm. It happens in industry, finance, literature, sports, manufacturing, technology, entertainment, travel, communication, etc.

I would like to discuss the paradigm shift that is occurring in politics.

For a long time, American politics has been defined by a Left/Right dynamic. It was Liberals versus Conservatives on a variety of issues. Pro-Life versus Pro-Choice, Tax Cuts vs. More Spending, Pro-War vs Peaceniks, Environmental Protections vs. Economic Growth, Pro-Union vs. Union-Free, Gay Marriage vs. Family Values, School Choice vs. Public Schools, Regulation vs. Free Markets.

The new dynamic, however, has moved past the old Left Right paradigm. We now live in an era defined by increasing Corporate influence and authority over the individual. These two “interest groups” – I can barely suppress snorting derisively over that phrase – have been on a headlong collision course for decades, which came to a head with the financial collapse and bailouts. Where there is massive concentrations of wealth and influence, there will be abuse of power.  The Individual has been supplanted in the political process nearly entirely by corporate money, legislative influence, campaign contributions, even free speech rights.

This may not be a brilliant insight, but it is surely an overlooked one. It is now an Individual vs. Corporate debate – and the Humans are losing.

Consider:

• Many of the regulations that govern energy and banking sector were written by Corporations;

• The biggest influence on legislative votes is often Corporate Lobbying;

• Corporate ability to extend copyright far beyond what original protections amounts to a taking of public works for private corporate usage;

• PAC and campaign finance by Corporations has supplanted individual donations to elections;

• The individuals’ right to seek redress in court has been under attack for decades, limiting their options.

• DRM and content protection undercuts the individual’s ability to use purchased content as they see fit;

• Patent protections are continually weakened. Deep pocketed corporations can usurp inventions almost at will;

• The Supreme Court has ruled that Corporations have Free Speech rights equivalent to people; (So much for original intent!)

None of these are Democrat/Republican conflicts, but rather, are corporate vs. individual issues.

For those of you who are stuck in the old Left/Right debate, you are missing the bigger picture. Consider this about the Bailouts: It was a right-winger who bailed out all of the big banks, Fannie Mae, and AIG in the first place; then his left winger successor continued to pour more money into the fire pit.

What difference did the Left/Right dynamic make? Almost none whatsoever.

How about government spending? The past two presidents are regarded as representative of the Left Right paradigm – yet they each spent excessively, sponsored unfunded tax cuts, plowed money into military adventures and ran enormous deficits. Does Left Right really make a difference when it comes to deficits and fiscal responsibility? (Apparently not).

What does it mean when we can no longer distinguish between the actions of the left and the right? If that dynamic no longer accurately distinguishes what occurs, why are so many of our policy debates framed in Left/Right terms?

In many ways, American society is increasingly less married to this dynamic: Party Affiliation continues to fall, approval of Congress is at record lows, and voter participation hovers at very low rates.

There is some pushback already taking place against the concentration of corporate power: Mainstream corporate media has been increasingly replaced with user created content – YouTube and Blogs are increasingly important to news consumers (especially younger users). Independent voters are an increasingly larger share of the US electorate. And I suspect that much of the pushback against the Elizabeth Warren’s concept of a Financial Consumer Protection Agency plays directly into this Corporate vs. Individual fight.

But the battle lines between the two groups have barely been drawn. I expect this fight will define American politics over the next decade.

Keynes vs Hayek? Friedman vs Krugman? Those are the wrong intellectual debates. Its you vs. Tony Hayward, BP CEO, You vs. Lloyd Blankfein, Goldman Sachs CEO. And you are losing . . .

~~~

This short commentary was conceived not to be an exhaustive research, but rather, to stimulate debate. There are many more examples and discussions we can have about this, and I hope readers do so in comments.

But my bottom line is this:  If you see the world in terms of Left & Right, you really aren’t seeing the world at all . . .

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Pro-Labor Group Working America Recruits 20,000 New Wisconsin Members In Wake Of Budget Protests

By Amanda Terkel
HUFFINGTON POST

WASHINGTON — While Wisconsin Gov. Scott Walker (R) may have won the most recent battle in Madison by securing passage of an anti-union bill, labor activists are optimistic they may emerge as the victors in the long run.

Forming a union is a lengthy process, and although labor officials say they already see more interest from workers, it’s too soon to measure an increase in membership numbers. But there is one indication the battles in Wisconsin are providing a boost for labor.

Working America, an advocacy organization affiliated with the AFL-CIO that provides an outlet for non-union members to support the labor movement, has signed up approximately 20,000 new members since Feb. 15. The group was active in the state in 2008, when it built up the bulk of its membership, which now stands at 65,000. It was inactive for the past couple years, however, and just reopened shop the beginning of 2011.

Joining up with Working America is far easier than enrolling in a union, involving simply filling out a form either in person or online. New members are asked to contribute $5, although no dues are required.

Joining a union, on the other hand, requires holding elections and often battling with management, which may employ all sorts of tactics to slow down or stop the process.

“The increase in Working America numbers provides one of the first real-world examples of what we’ve seen, which is increased interest nationally and in Wisconsin of supporting workers’ rights,” said one labor official.
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Worst Company In America

Here is this year’s lineup for The Consumerist’s WORST COMPANY IN AMERICA:

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Global Protests & Uprisings Maps Time-Lapse

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JOIN

From Sea To Shining Sea:

CIO! is joining in to STAND WITH this call for a Nationwide General Strike:

We’re calling for a day of NON-VIOLENT ACTION to show the thieving heartless corporations and the politicians they own that WE THE PEOPLE make this democracy work and this country great. If possible do not go to work or class and participate, march, picket, gather in a place that makes sense in our town, city, or county, and non-violently make noise, create excitement, and promote solidarity.

There are no excuses! Here is what on…e person wrote on our event page wall.

“Anything for those of us retired and/or disabled? Marching’s kind of out for me. I’ve mobility, digestive and chronic pain problems. How can we be represented and have our numbers added to the voices being heard? I’m on a rolling walker so if it snows I’m out due to just not being able to get through the snow and ice.

Also, how do …we find out about any local events? I’m not up to organizing but if there’s somewhere I can go on my rolling walker for even an hour (it has a seat but that’s still my max and I won’t be able to move the next day), I might make it to stand shoulder and shoulder with my brothers and sisters so that my daughter and grandson might possibly have a future.”

We MUST do this! For Donna’s daughter and grandson, my one month old son and for the entire next generation of “American Dream” seekers!


HOW?

This will only work if YOU work to help organize, get the word out (repost, share, invite friends) and participate. We’re calling for ACTION, helping to connect people, and providing other support as needed. You know your community. You know what will work. Leafleting? Picketing? A march? Neither of us can nor should dictate what local actions or activities look like. We ask that if you operate under the auspices of this movement that it be non-violent, but beyond that we want you, your family, friends, neighbors, and colleagues to creatively design and plan what is right for you.

We have a group/cause page,

http://www.facebook.com/pages/Call-for-a-Nationwide-General-Strike/150601308334693?sk=app_2373072738

click on “Discussions” on the left side. We have topics for every state! Please check in, and let people know …what state and city you are in or plan to be in on March 31. If your states discussion board gets cluttered create new event pages for your city, town or region. You can have a link to the new event(s) on your state discussion board.

WHY?
The lower 98% in the U.S. are under attack in a way not seen in generations. From union busting to outsourcing to mass layoffs, the working people of this country are being assaulted by corporations and plutocrats. While we lose our jobs, our benefits, and take cuts in pay, the rich are awarded massive tax breaks and amass obscene amounts of wealth. They buy politicians to do their bidding and pull the strings of corporate media to tell us that WE have to make sacrifices.

We believe that the workers, the unemployed, the underemployed, the students, the bottom 98% — have sacrificed ENOUGH and that it is time for us to say NO.

WHEN?

March 31st is the birthday of César Chávez, one of the preeminent labor and civil rights leaders in the U.S. during the 20th century. César Chávez and his incredible work helped to build the US Labor movement and the modern middle class. Our action, on his birthday, will strengthen the labor movement and help ensure that there will be a middle class tomorrow.

If you’re not familiar with him, you can start by reading these two links:

http://en.wikipedia.org/wiki/César_Chávez
http://www.ufw.org/_page.php?inc=history%2F07.html&menu=research

Who is behind this?
Mike Benedict: Mike works in a vibrations test lab in Erie Pennsylvania and has been a UE (United Electric, Radio and Machine Workers of America) member for nearly 17 years. He has organized, fought for workers rights, single payer healthcare (HR 676) was canvass coordinator for Erie Pennsylvania during the 2004 John Kerry Campaign and ran for Eire city council in 2005. As someone that has studied the history of labor and economic trends, he recognized that we are now at a defining moment and that a large scale action is necessary.

Yuri Keegstra: Yuri came across the “A Call For a General Strike” event on Facebook one night while organizing and sharing info regarding protests in Wisconsin and thought “absolutely!”. He works in IT at a Wisconsin university and is a proud union member. He has a strong interest in the civil rights, environmental, universal health care, anti-war, social justice, economic justice, and animal rights movements. He has been an organizer and activist since he was a teenager. More info can be found on his Facebook profile.

Who is behind them?
Nobody. Mike created the event and issued the call. Yuri saw, joined, and offered to help. Two people, a couple states apart, working on their own time with their own equipment. No union money. No political party money. No organization money. Nobody dictating or suggesting what to say or do. Just us — oh, and YOU!

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