GE Threatening To Leave State Of CT Over Taxes.....Boo Hoo.......

Connecticut is trying to raise taxes on corporations (and everyone else) and GE is having a hissy fit. They are pouting. They are screaming. They are flailing their arms. They are stomping their feet.

http://www.courant.com/…/hc-legislators-malloy-reaction-060…

This is the same company that is famous for paying $0.00 in taxes

Just the thought of GE having to pay any additional tax (above $0.00) is hateful.

When the money goes from the government to GE….GE is thrilled.

http://www.militaryindustrialcomplex.com/totals.asp…

When the money goes from GE to the government……Well that is not going to happen.

http://www.huffingtonpost.com/…/general-electric-taxes_n_28…

So GE is threatening to move thousands of jobs out of the state of Connecticut which is their final outburst in this temper tantrum.

GE's CEO is Jeffrey Immelt.

Jeffrey Immelt was Barack Obamas jobs guy. Obama charged Immelt with figuring out why Americans have no jobs (try not to laugh). All Jeff had to do was look in the mirror and point at the guy he saw.

The reason Jeff agreed to play Obamas jobs guy is because GE depends on Billions and Billions of dollars in government contracts. GE can’t get enough of all that free government money.

Specifically GE wanted a piece of the F-35 Engine business. The F-35 is the biggest US military program (boondoggle) in history.

The engine for the F-35 was won by Pratt and Whitney. GE wanted to make a second engine and have your tax dollars pay for it.

Why have just one engine (that totally sucks) when you can have two.

Immelt pushed Obama hard to approve the GE engine. In the end (for reasons nobody understands) Obama said no to immelt.

http://www.bloomberg.com/…/obama-continues-to-oppose-ge-f-3…

There are members of congress still today trying to revive this second GE engine.

Right after Obama said no to the GE F-35...... Immelt stopped being Obamas jobs guy. These days you don’t see the two together much. Before Obama said no the two were together all the time.

So now Immelt is threatening all of Connecticuts GE employees with unemployment if GE has to pay any taxes.

Meanwhile the CT politicians are calling GE’s bullsh*t because GE really just wants to lay off all their CT employees anyway. Now they can blame the government though. Good deal for them.

http://www.courant.com/…/hc-legislators-malloy-reaction-060…

General Electric told employees it has assembled an exploratory team to look for "another state with a more pro-business environment."

GE's statement followed a press conference by the Senate's top Democratic leader, Martin M. Looney of New Haven, who suggested Thursday that General Electric's harsh criticism of new business tax increases in the state budget may be a cover for Connecticut layoffs already planned by GE.
GE employs more than 5,700 employees in the state, including 800 at its corporate headquarters in Fairfield

Looney said business taxes in Connecticut are "moderate" compared to other states, and that business tax revenue for the state is now less than half of what it was a couple of decades ago. He said Connecticut was the only state in New England that didn't have a unitary tax on multi-state corporations.

"If people were only looking for low taxes and low costs, everybody would be moving to Mississippi," said Looney, "but that's not the case."

Rep. Peter Tercyak, D-New Britain, said he received a call Monday from a GE worker in Connecticut telling him that GE had already decided to move some of its Connecticut workers to New York. He said other Democratic legislators were getting similar calls, including a legislator's sister.
Tercyak said the callers were saying the new leases had been signed months ago, making the threat misleading.
Sharkey accused GE of "fear-mongering," and accused the company of blaming Connecticut's tax policy for its own corporate decisions that had been in the works for years.

"Let's take GE as an example. A company that pays zero taxes to the state of Connecticut by the way," Sharkey said. "If they're making decisions about what to move and when to move, it's not based on our tax policy."

Sharkey also said that the company's decision to sell off GE Capital had been discussed for six years "in a corporate boardroom without any regard to what the tax environment in the state of Connecticut is."