FROM CNN's Jack Cafferty:
Here is more evidence of the suicide mission this country is on: General Electric announced it's moving its 115-year-old X-ray business from Waukesha, Wisconsin to Beijing, China.
The X-ray business is part of General Electric's GE Healthcare unit, and this move is just part of a broader plan by GE to invest $2 billion in China.
This will become the first GE business to be headquartered there. A handful of the unit's top executives will be transferred to China but otherwise, the company says, none of the 150 staffers in the Milwaukee-area facility will lose jobs or be transferred. However, GE plans to hire more than 65 engineers and a support staff at a new facility in China.
It's the kind of news that makes you want to reach for something sharp and jab it in your eye. General Electric's Chief Executive, Jeffrey Immelt, is one of President Obama's advisers on… ready? U.S. job creation!
In January, President Obama asked Immelt, a self-described Republican, to head up the President's Council on Jobs and Competitiveness. Tapping Immelt was supposed to provide the Obama administration with a business world perspective on job creation - not in China - here.
The administration also hoped it would give the president a leg up negotiating with the Republican-controlled House on deficit reduction, jobs programs, and health care. And we can all see how that's worked out really well.
Two months after Immelt was named to the council, The New York Times reported that General Electric paid no income taxes last year... thanks to some fancy accounting footwork, even though the company earned $14.2 billion in profits last year - more than $5 billion in the U.S. alone.
Here’s my question to you: General Electric is moving its X-ray business to China. What message does this send Americans?
Interested to know which ones made it on air?
It says we can give big corporate perks to companies who ship jobs overseas. The GE situation is a perfect example. How do you expect President Obama to create jobs if the corporate big wigs are "unemploying" our people? We should take the company tax breaks and perks away until they bring back the jobs from overseas.
Eva in Tennessee:
Wait. Isn't the CEO of GE supposed to be Obama's top jobs guy? First they paid no income tax and now this? It's official. No one in power cares about getting people back to work. All they care about is keeping their profits, their offices, and the status quo. The real question is how long will it take the rest of America to realize this and do something about it?
Brad in Portland, Oregon:
It tells the U.S. that free trade is a scam, and we need to have fair trade instead. It's too easy for companies to outsource to China and bring the goods and services back to the U.S. with few restrictions. We need to have tariffs on imports to account for the difference in labor costs between the two countries, and then China can compete with American manufacturers on the basis of quality instead of cheap labor.
Frank in Mill Valley, California:
The message is eloquent and wonderfully concise - it consists of only two words. It starts with the letter "F" and ends with the letter "u."
Does anyone see a conflict of interest here? Why would a corporate chief executive move an arm of his business to China when he is responsible for jobs in America? I find it outrageous!
Lori in Pennsylvania:
It says that U.S. company executives and stock holders are greedy, and want to share as little of the profits they make as possible. I guess the national debt crisis hasn't opened their eyes as to what happens when millions of average citizens don't have a paying job.
D.W. in St. Louis, Missouri:
Thanks for all the tax breaks, Suckers!
Jack: GE sending X-ray business to China is saying profits over loyalty to America. General Electric is a business with over 100 years of growth in the United States, but when it comes to what is important, profits and greed rule over anything. The customer base that built GE did not leave America, but GE which pays no taxes is leaving for cheap labor. Now, GE is cheap because their appliances and electronics are cheap. Do not buy GE products. GE sells amd makes lemons.
It's time for American businesses to proudly boast "we hire Americans' and see how their business would take off.
The message is that we live in a corporatocracy and not a democracy. We are learning that big business has no feelings of community, except for the community of stockholders. These companies benefit from America, rape it and leave it in the economic dust bin when done.
Corporations care more about money than the very counry that allowed them (even helped) get started. Ungrateful bunch. Tax them for taking away from us.
It sends the message that we are blind fools if any of us ever buy another GE product.
EUREKA !!, proof that the Republican policy of providing tax breaks to major corporations because they would create jobs, WORKS!!
No one said those jobs had to be in the United States, did they?
Ask the President's new business adviser, Jeff Immelt, also CEO of GE, and the man who caused GE to plummet in the markets over the past several years. What a choice by Obama if he is truly looking to take down America. You might ask why the USA is giving billions to Brazil to drill for oil and telling them that we will be their best customers., while our people who were in the business of drilling are collecting unemployment checks. Have you given that any thought Jack?
The exodus continues. Dear Americans, visit China, visit your ex-job's.
GE's message to the US: "Paying $0.00 in taxes on multimillions iin profit is not enough. Now, we'll shaft you as we move our busness out of the Country. Remember, at GE, we bring good things to life....." By the way, just remember GE and its' CEO are BIG Obama supporters. So this must be EXACTLY what the President wants.......
GE stock should go up – increased profitability ahead for GE and increased employment for China ... it's all good – right?
GE only want Americans' money (revenue) – they don't pay much in taxes already and they want to tap into sub-standard labor rates that they can find in Asia instead of providing americans meaningful jobs – just like the many other corporations have done – outsourced jobs.
I would like to know where the outrage for this is in Washington, Jack. It's about time DC takes off their blinders and see what the problem really is. How on earth can they not see that this is a big contributor to the deficit crisis that were are so pre-occupied in trying to "solve".
Well Jack in all fairness GE employs around 60,000 people globally in their healthcare division. Moving less then a hundred people to China to cover their over 1.1 billion dollars in sales to China is not much in the big scheme of things. There is a demand for what GE produces and they should support it like any other responsible company. They do business globally and naturally should globally support their products. Think of it this way. If you live in China and have X-rays taken then you don't want to have to call some foreigner in the United States to read them.
Nothing new there Jack...why do you suppose the unemployment problem remains so bad,people just blame the Government and misplace the blame again mean time we just keep sliding downhill while companies profits continue up and they say they need more certainty (cheaper labor they mean)
Considering that GE paid nothing in U.S. taxes last year, it says to me that taxes aren't as "job killing" as the GOP has been chanting.
It says that they're more interested in profits than what might actually also be good for our economy (jobs)
Well Jack if I was GE I'd go too.Look at how we treat these companies
like Boeing telling a private company owned by private stock holders where to build and where not to build.That sir is insane in a free country.
The message it sends is "Washington just does NOT get it"" Too busy
getting money for re election.
I think a message needs to be sent to GE and let them know that moving overseas will put millions of people here out of a job. And will eventualy cause the purchase of their products to be stopped. I will buy nothing made by GE. I think the Federal Government should cancel all contracts and work with a company that don't move over seas. other words BOYCOTT
Several messages here, Jack.
First, with the U.S. having monstrous corporate taxes with no relief in sight with the "Tax the Rich" mentality of the current spenders in charge, this is only the tip of the proverbial Iceberg. If Obama was ever to get re-elected, there would be a MASS exodus of corporations to all parts of Asia. It's called survival.
Next, America soon will no longer lead the world in anything except at being ENTERTAINED.............24 / 7.
Facebook, Twitter, or any other useless social media addiction. That's what we now excell at.
Just goin'where all the money is going to go
Maybe Communism has it's upside. At least things are being accomplished.
What this message says is with the collapse of Soviet Communism, the erecting of Globalization, and the consolidation of corporate power in US media, government, and industry, you-The American People, are no longer necessary.
The Capitalists keep giving us our pick slips and Americans keep "electing" them to power thinking that elections actually do anything.
Gee Jack, do you think maybe GE is moving it's X-Ray business to China has anything to do with the fact that the US government hates business investments inside it's borders and demonstrates that hatred by erecting obstacles to profitability in every imaginable way? Do ya think?
The message should be we need to pass a law that stop's giving companies like GE tax breaks who continues to ship jobs overseas. Here is a company that has been treated good because of their lobbyist in Washington and large donations to campaigns that resulted in them paying no taxes and receiving over one billion dollars in tax incentives, and what is the thanks we get, they continue to shipped jobs overseas after already making record profits. I think companies like this are traitors and care only about making more money. They could care less about what hardships they bestow on their fellow citizens here in the United States. I cannot believe this is what the Republican Party wants to protect.
Corporations run this country, they don"t care about the american people, all they care about is cheap labor and profits.
Unbelievable decision ...considering Jeffrey Immelt, CEO of General Electric and Obama job czar would consider moving the xray arm of GE to China. Although they say no jobs will be lost, I have read that they will hire 100 engineers in China...that would have been a solid 100 jobs right here in the USA!
Does anyone see a conflict of interest here? Why would a corporate chief executive move an arm of his business to China when he is responsible for jobs in America. I find it outrageous!
China is the new land of opportunity for corporations.
The head Zcar under Obama that is promoting jobs in this country, also the CEO of GE, is not only crapping all over this country but is sinc with Obama. That shows you the true colors of this Administration. They speak with a forked tongue. How can anybody vote for the Democrats and Obama in 2012. Are the people deaf, dumb and blind??
Jack CNN needs to blast this decision big time. Boycott the GE product.
Republicans say businesses outsource because corporate taxes are too high. But GE paid zero taxes on billions of dollars of profit, and they're outsourcing anyway.
Could it be that companies REALLY outsource because of CHEAP LABOR?
tampa, fl i can see right through them on this one. also, consider GE has more lawsuits against it for defective products than any other company in the usa, i'm sure the quality will go downhill from here by being made in China.
Since GE didn't pay one penny in Federal income taxes last year or years prior, GE's proposed move of it's X-Ray business to China sure does gut and remove any merit to the Republicans argument that taxes are the reasons U. S companies move their operations off shore. I hope that the U. S Government will place substantial tariffs on any GE X-ray products being shipped back to the U.S.
It tells the US that free trade is a scam, and we need to have fair trade instead.
It's too easy for companies to outsource to China and bring the goods and services back to the US with few restrictions.
We need to have tariffs on imports to account for the difference in labor costs between the two countries, and then China can compete with American manufacturers on the basis of quality instead of cheap labor.
Another sign that the U.S.A. is going down the drain. General Electric paid no taxes this past year making them fell bad. I am sure they are going to China so they can pay taxes and fell better!!
It says, "up yours America"! Oh, by the way, I'm sure they still want protection from us if there is any trouble over there, and be sure to give them all the tax breaks imaginable. GE lacks any corporate morals, and obviously hates America.
First GE gets a big IRS credit instead of paying taxes, then they outsource more American jobs to China while at the same time complaining our President has created the "worst wet blanket" for US economic growth in history. They spend millions lobbying our politicians, complain that regulations are too costly, but still show record profits. Jack, GE's message is loud and clear...profits matter more than people. I'm sick of hearing how tough big corporations have it. This country is in trouble and big business is part of the problem.
It send Americans a very bad message. It infers that it is more than ok to choose China for business, rather than keep the jobs in the U. S. A..
Time to boycott GE.
Wait. Isn't the CEO of GE supposed to be Obama's top job's guy? First they paid no income tax and now this? It's official. No one in power cares about getting people back to work. All they care about is keeping their profits, their offices, and the status quo. The real question is how long will it take the rest of America to realize this and do something about it?
It means that it is less expensive to do this stuff in China. It's that simple. Maybe if we lowered taxes or regulatory burdens or endemic uncertainty, we could save the jobs.
But, . When the mandatory savings portions of ObamaCare start kicking in, we will see a lot of activities off-shored in order to remain finanically viable. Fasten your seatbelts; It's going to be a bumpy flight.
That U.S. company executives and stock holders are greedy, and want to share as little of the profits they make as possible. I guess the national debt crisist hasn't opened their eyes as to what happens when millions of average citizens don't have a paying job.
Jeffrey Immelt is Obama's "Jobs Czar" tasked with protecting US jobs
Jeffrey Immelt is GE's CEO which is firing workers in the US and sending those jobs overseas.
Why do I hear that old "Twilight Zone" theme playing in my head, Jack?
Ed in Sacramento California
That they can operate more cheaply in COMMUNIST China and that they can keep more profits overseas to avoid paying taxes. Oh, wait, GE already avoids paying any taxes!
GE is one of those corporations that paid zero corporate tax.
Now they are sending even more of American jobs off shore, to boot.
The time has come for Congress to establish severe tax penalties for any American Corporation importing products from off shore, and that includes CHINA! I don't care how much US debt they hold......this economy will NEVER recover, if we don't have jobs in the US!
There is NO OTHER WAY, to solve the jobs problem. None.
It's not the message they are sending to the US, It's the message the US needs to send to them! All government contracts that have been awarded to GE need to be dissolved immediately! These contracts include the Dept. of Defense and total well over $13,000,000,000 within the last decade. Yes, BILLION. I give it a week and the Chinese government will have hacked their computer system and have information on a decade worth of contracts by our govt. It's time to ship our so called politicians overseas!
Thanks for all the TAX breaks SUCKERS
ST. Louis, MO
The United States is moving money to China so by moving jobs is that not another attack on the economy.Does GE get Tax breaks.
That there is more to be gained in a communist country with a controlled economy than to stay in a demo-fascist country with a controlled economy? Perhaps the question should be: which controlled economy is allowing their businesses to flourish and grow? It's a pity that so many Americans have fallen prey to the nonsense put out by our politicians, and now fail to understand how a free market economy benefits all, not just corporations.
Ron Paul in 2012...
Obviously it shows that GE, a company that effectively paid no taxes last year, is being taxed too much in the US by President Obama. Or perhaps Americans should get the message that it's trade agreements, not taxes that move jobs away from our shores.
If jobs at General Electric were chips in a poker game Jack, America just lost a big pot. China's a serious player at the world's employment table and knows just how to check and raise when their opponents show weakness. The Obama administration has created a business climate in America that causes big employers like General Electric to play a very cautious game which is exactly what it did by moving its X-ray business to China.
Gary in Scottsdale, Arizona
I already have my translate app set for converting English to Mandarin.Do you know where I can convert my currency also?
I am looking forward to having a 12-year-old Supervisor.He or she probably can teach us many things to make it in the world. /sarc
Greg M. FL
Well gee! After getting their humungous "tax cut" they are producing jobs aren't they? The GOP calls them "job creators" but the GOP doesn't bother to say where exactly the jobs will be created.
Immelt was selected as some sort of advisor to aboma for keeping nd or developing jobs in the USA. What a joke
Soon, they'll be sending us to China.
It should tell American's not to ever buy another product made by GE again, but American's have become the stupidest people on the planet. We are destroying ourselves from within.
The message is a simple one, corporations will act solely in their own best interests. If it means working the tax code so they pay no taxes, fine. If it means moving divisions overseas to save on labour costs, fine. They're not interested in the country's well being, merely their own, and the solutions to this are not found on bumper stickers and they are neither simple or quick.
It all relates back to my answer with what is wrong with our government leaders, in which we have a society of self-absorbed leaders who are solely interested in their personal gain. Regardless as to how many people are out of work or walking the streets GREED is killing our sense of community and compassion for others. Too bad these fearless narcissists could not switch places with those in need for a year or two, and then perhaps their attitude and business practices would change.
Joe, Binghamton, NY
It sends a simple message. If we contribute enough money into our policitians campaigns, we can get them to lift regulations.
So, why not go where its cheaper to build and operate if the politicians who create laws in the USA allow them to?
Ultimately the message it sends is is really this:
If you pay enough into a political campaign, you will get what you want in the end for your business, and then you can make lots of profits while your country suffers. But then again, what wealthy Republican business man cares about poor people?
Jack, these questions are so easy to understand and answer. Ask some hard ones!
Up yours America. We've got Obama in OUR pocket. Just to rephrase them: GE we bring good things to us.
Just like Nike, Heinz Ketchup, Intel, and many other private companies, more jobs are going overseas in exchange for cheap labor. Money is all that matters and not taking care of your fellow man. No CEO or Executive wants to deal with employee benefits and Unions so they export the jobs so that they can make more money. Go to any store and pick up any product and look at the ratio of products "Made in America" vs. "Made" in another country.
Jack, you've got to come up with tougher questions.
Duh, the message is that GE doesn't care or want to hire American workers to fill these jobs. It is cheaper to do business in communist China because of the cheap pool of labor. Cheap labor means bigger profits for the owners, and that's what it is all about. A Chinese worker will work for less than peanuts and live in a cardboard box under a bridge; an American worker will say that he can't afford to live on 10 cents per week because he has a mortgage, taxes, insurance to pay.
And the gov't will give GE tax breaks and subsidies for these outsourced and offshored jobs while GE pays no taxes. And we're suprised that there's a budget deficit?
The Gov is trying blame the other and the pres. for destroying the country.
Why would GE, or any oneupgrade in the US and putp with the ciivil unrest that is sure to come.
There will be blood in the streets.
The only way this can be resolved is to charge the lot of them with mutiny and start over.
I do not think that ther is one place in the constitution that gives congress the right to destroy the UNION. METASLWORKER in IL.
This company does not pay taxes. It is taking American jobs to a country who's work force pays no American taxes. And then they don't want to close corporate loopholes nor raise tax rates on these companies. Its time to show these companies that if they want to take their production off shore, then we should hit them with higher import taxes. They will try to raise the price of their products, but with a rising unemployment rate, people will not be able to afford to buy their products. And the US Government has no business buying or using any product that is made off shore. When the middle calss goes, so goes tax revenue.
It means that American corporations continue to be coddled by their Washington patrons.
We need two changes: first, a tariff equivalency act, imposing the same rates that countries impose on us and two, for every outsourced American job require that the offending corporation pay FICA, social social security, and payroll taxes for each lost job which is then put into job retraining programs.
When the CEO is part of Obama's adfministration and his company is moving one of its businesses to China, it tells us that these people including Obama are ripping off the american people. He is suppose to be trying to make jobs happen here but instead he is exporting our jobs. He should be fired from Obama's administration if this does happen. Anyway, it could be that GE is trying to get away from the greedy unions here in america.
The emerging markets in China & India look more lucrative than the financially exhausted U.S Market and with a combined population of around 2.5 billion people they account for 1/3 of the worlds population.
With the amount of consumer demand and their low pay & benefit costs, they are becoming a business mans paradise, and they also provide a "technology shield" against corporate raiders who use our financial markets to steal someones ideas and their entire business, and our corrupt legal system that allows crooked Judges & Lawyers to order someone to turn over their patent rights to one of their "buddies."
The criminal minds in this country will turn us into third world status, and they won't quit until there is nothing left to steal. [LOOK OUT SSA !!]
It says "less jobs for our fellow countrymen." Outsourcing provides more money for the rich and less jobs for the American people. This is what happens when big business controls our government; private enterprises want less government so they can do more of the same. Isn't this how the Republicans are destroying our economy? if you vote for them you only help them with their goals.
Is this the company that made over 4 billion last year and paid zero taxes? The message it sends is if you support the republicans we'll make it easy for to screw your country and make a tidy profit while doing it.
I bet it must be nice to be a comic in China talking about America, talk about a target rich environment.
Dave from Peterborough, NH.
GE is like every other big company in this country. they will use the free acts ot increase their profit line. the only honor, they have is making their rich stock holders richer. we should have fair trade acts instead of free trade because we can not compete with sweat trade labor costs. remember when you get a X-ray make sure that it was made here because other products from china have been harmful to us.
I think what it means to America is TSA screener checkpoints on every street corner.
Jack, it always amazes me how these big corporations lay off thousands of Americans from their good paying jobs so these corporations can move their manufacturing overseas, pay slave wages, then turn right around and expect all of those UNEMPLOYED Americans to somehow buy their product! The message is clear....G.E. to the U.S. worker.....Drop Dead!
It proves America is"nt industry friendly on one side you have the unions and on the other side you have Obama and taxes this president suck's .
It tells me that we are not doing enough to keep manufacturing here and that if we want GE to stay, we need to do more.
That it likely puts no value on worker safey. My message to GE is good riddance! Its time to do a VAT to tax these products when they come back.
How "bout if we tax overseas jobs?
it says that President Obama made a HUGE mistake having GE Chairman Jeffrey "Immelt-down" as the Chairman of the President’s Council on Jobs and Competitiveness, Jack.
BUT is anyone really SUPRISED by this? Immelt's predecessor at GE, "Neutron" Jack Welsh, was a leader in downsizing and outsourcing jobs when he was Chairman. GE also recently outsourced their aviation electronics business to Communist China, when I was a young boy in the 1950's and 60's, THAT would have been considered TREASON.
bottom line is that these so called "American" multi-national corporations have NO loyalty to the United States and that V. I. Lenin was correct when said, "The Capitalists are so greedy they will sell us the rope with which we will hang them"
it says thanks for allowing us to make 3.7 billion in the second quarter, it says thanks for not legislating me to create jobs in America, it says thanks for allowing me to create jobs in a communistic country instead of feeding my fellow Americans who are struggling to get by, and most importantly this is why tax loopholes have to go away so at least we the people are getting something out of the deal
General Electric is saying the economic conditions are much more favorable in China for their x-ray business. China has more to offer ... cheaper labor, a skilled labor force, no labor unions and a government that supports business. We need these General Electric jobs to stay in the USA.
The message to Americans should be that our government is not doing anything to keep the jobs here. However they are doing almost everything possible to SEND BUSINESS AWAY to China and other countries.
"Thanks, America, for the years of all of the loopholes which allowed us to operate, tax-free, within your country, and make massive profits. We're now afraid that the American people may force their government to remove some of these loopholes, costing us more than it will cost to re-outfit in China....and hey, once we're there, think of what we'll save in labor and how much more profit we'll make! Anyway....thanks again..... ole chum(p)!"
I found it interesting that the spokesperson said that no jobs would be lost. Two comments: 1. Does that mean that the x-ray units are already being manufactured in China? 2. They've hired or will hire 100 Chinese engineers. Thats 100 good paying engineering jobs that 100 American engineers could have had.
This is another example of the, "Job creators" the Republicans are protecting the tax cuts for. They're not "Job creators" they are, "Job destroyers." Isn't G.E. the corporation that generated $1, 000,000,000 in profits last year, paid no taxes and enjoyed getting billions of our tax dollars in the form of subsidies? Enough said about patriotic loyalty amongst the C.E.O's.
China will be putting every person that get's x-rayed on death-row with their shoddy, inefficient products.
We need and want made in the USA.
General Electric is moving its X-ray business to China. What message does this send Americans?
That it is a company that DOESN'T CARE.
It doesn't care about American Workers.
It doesn't care about American Consumers.
It doesn't care about America.
Bet China will make them pay their taxes unlike the USA.
And I think that we should have HUGE TARIFFS on any of their products they try to ship into the US.
We need to recoup our back taxes.
Stop buying GE products. Boycott them, and when China
sends their junk back to the U.S. for us to purchase,
boycott them again.
The message is GE does not care about American Jobs! They are only interested in making more money as China will not place protections or mandates on companies in order to protect their environment.
Have you ever been to a city in China? Bring an oxygen mask!
It is a message of corporate disloyalty to the American people.
They are looking for cheap labor and keeping more profits offshore. It shows how America's labor and tax policies make it a poor place to do business. Interesting that GE's CEO is Obama's business advisor. Makes you wonder if Obama has been bought off or is just blind!
it means there are the new onwers remind them the south run a little hot in the summer and the west gets a little shacky other then that she will run with the right driver
I wonder how many lobbyist and dollars it took so that GE didn't have to pay taxes. Now that they have helped to dry up jobs in America and not supported the cost of running our government, they can move on to another country and suck the life out of the Chinese. Please GE take all the crooks that got money from you in Washington with you.
A true American pays taxes...
Jack, are you as tired of hearing about these so called "job creators" as I am? The U S economy is being gutted by globalism. But all we hear about is how these stinking "job creators" can't help us if they have to pay a fair tax like the rest of us. Jack, a sharp object seems to have been stuck in SOMEBODY'S eyes because they are absolutely and completely blind to the facts.
Kiss off, chumps. I think, personally, we should send a message back by boycotting their products. We couldn't have as much of an impact as say China or India, but it would be noticeable.
The rats are leaving the sinking ship, pure and simple.
It makes me sad however I know the reason why. Until we dissolve the minimum wage and eliminate corporate tax overall, we will struggle to compete with China. Sadly, we aren't on a fair playing field, we care for our citizens.
It sends the message that the Republicans are right about everything. Threaten new taxes and businesses will leave. But this is kind of surprising since they're in the President's back pocket and have taken a lot of our tax dollars.
"The first order of business is jobs, jobs, jobs". John Boehner,January 2009.-- Mr. Boehner- where are the JOBS? Kiss the GE jobs goodbye. Kiss 500 jobs from Blackberry goodbye. John Boehner, kiss your own job goodbye. You , Sir, don't even speak for your own party. Grover and Rush hold more sway than you. You're impotent. When given a choice, I will not buy a GE product. We need a grassroots movement to buy American. Made in U.S.A.
Medicare and Medicaid reimbursement has been dropping for imaging studies for several years, and many imaging centers have closed. It's only natural that one of the biggest vendors would feel the result of these spending cuts. But this is still no suicide mission. X-ray has been around for over 130 years, and this probably has more to do with the commoditization of x-ray machines than anything sinister. Yes, X-rays are going the way of the toy car, dvd player, or cell phone charger; things that are made in China simply because that is the only way to turn a profit on them.
I think it says that America is going to hell in a hen basket, that all corporate America is concerned with is more profit for themselves.
If Americans would stop buying products that are not made in the USA, maybe coroporate american would take notice, doubt it, tho.
That this extemely profitable but non-tax paying American corporation couldn't care less about unemployed Americans; and that the new free trade bill is going to further weaken our job situation – just like when Ross Perot told us approving NAFTA would allow us all to hear a giant sucking sound as jobs left the US!
The usual one – American and it's people are the maid, and GE and other big corps are Arnold Schwarzenager.
GM took TARP money and built factories in China. Harry Reid took Stimulus money and bought windmills from China and GE got a 3 billion dollar handout from the taxpayers after declaring 14 billion in tax free profits. The best one is the Defense Department buying Russian Helicopters to give to The Afghanistan Military. The people of Kabul prefer the right side drive in Russia copters. Can we fix stupid?
Jack, if jobs at General Electric were chips in a high stakes poker game, America just lost a very big pot. China's a serious player at the world's employment table and is very good at inviting in opponents when it senses weakness. The Obama administration has created such a negative business climate in America that big employers like GE are playing a very cautious game, That's exactly what they did by folding their cards and moving their X-ray business to China.
Of course GE is sending jobs to China, how else can they capitalize on on huge their tax breaks and billions in profit. Isn't this the premise of our "job creators?" They are creating jobs, thousands of jobs, just not where it should be.
labor in china is cheap and it doesnt cost almost anything to import their product in the U.S
it's all about making more money
Tucson, AZ – It means that big business goes where the big bucks to be made can be found, and the US is saturated with X-ray machines and China is quite empty of them yet. We really need to get GE to open a lot of windmill factories here, not chase old technologies to emerging markets.
That was the main reason for the previous crash to put 1 in 5 men (breadwinners) out of the work force, to create lower wages. BY 2015, the wages in China with transportation will make American workers as cheap. At that time, the businesses will move back. But goes to show a lot of American businesses are short term thinkers. Bonus first, then America.
What Jack! This is not a Debt Ceiling question.
I just can't believe this could happen, aren't we talking abou JOBS
Simple, Jack. Remind consumers that GE has chosen another country over its own with a daily reminder to the public that they have done so and simply refuse to buy GE!
It sends the message that the world is flat and major corporations whether U.S. based or not are global with allegiance only to almighty profits and tax havens. Opportunism trumps patriotism. Don't jab anything sharp into your eye, Jack. You won't get healthcare either.
Carol in Northampton, MA
We're screwed. And oh yeah, we better start learning to speak Chinese. I'm not sure but I believe Mandarin is the most common.
Investment grade corruption demands a return.
GE moving it's x-ray business to China is another nail in the American coffin. We fast becoming a failing economy because the leaders in our country cannot consense on critical issues in order to move the country forward. The leader of the country Mr. Obama has acted like an moody teenager rather than a strong leader who would not call names but instead demand teamwork. He should give a speech on teamwork rather than berating the other party. You would be surprised if the qualities of a true leader surfaced at this time in our history!! The American people especially all those baby boomers will definetly act the next time they get a chance to vote in a whole new set of leaders to straighten this mess out!!
It means that after Armageddon in this country, we still have to have
light and utilities. GE is thinking in advance, and moving on to the
next superpower, early. Before all of the airlines to China are booked!
I'm checking with the Travelocity gnome to see what's available.
I'll check with you and Wolfe in Beijing.
No more GE for me! Nothing. Nada. Won't buy another thing. But it probably won't matter.
The American people should eliminate all corporate loopholes for GE and support raiseing taxes on this company. Including an import tax. You can take jobs over seas, but don't expect any favors.
GE is saying that they are unamerican. GE & Whirlpool have both sent jobs overseas or to Mexico.Rep UPTON IN SW MI has voted consistantly
the GOP ways and He has watched factories and local jobs walk away.
Upton's Father started Whirlpool and he has voted only for profits and he could care less about jobs and factories in Berrien county. He's rich and could care less! GE and WHIRLPOOL both should be ticketed as UNAMERICAN COMPANIES! Let's raise taxes on companies that ship jobs out of America.
GE should be taxed triple the corporate tax rate. If I remember correctly they paid no taxes. I think companies like this should be penalized to the hilt.
What message does it send? Stop buying GE... loud and clear.
Let's vote for Obama for president in 2012, he'll ship the rest of the jobs to China. Change we can believe in.
It shows that businesses don't actually care about jobs in the US. The tax loopholes should be closed, because they're profiting at our expense.
Message: "Learn to speak Chinese"
William from Valley Forge
Just show's the kind of corporate greed that is going on right now. GE just wants to make the most money they can. The GOP calls them "job creators" when in reality, they couldn't care less about creating jobs. More jobs = less money for them. They need to be making jobs here. Oh yeah, they also need to pay taxes like everyone else too. I'm sure the CEO can live with only one Ferrari instead of two.
Dare I say it. It's time to tear up NAFTA an GATT and reinstate protectionist tariffs.
GE is as American as apple pie. The message here, the captain has abandoned ship. Plain and simple, the America all of us have come to love is over.
It means learn Chinese.
The message it sends to me is BOYCOTT GE. Loud and clear.
The message to me? Do. NOT. Buy. G.E.!!
This is absolutely unbelievable! President Obama should fire him from the economic advisory role of jobs creation, and the US should be immediately eliminating the tax breaks to big corporations, by taxing more companies like GE that move their manufacturing offshore. I know this sounds too simple, but how complex does something have to be before it never happens? Do we really want to be unemployed debtors? That's where the US is heading.
Karl Marx said "a capitalist has no loyality to a flag". He was right about capitalism and the reserved army of the unemployed!
Rats....fleeing a sinking ship.
Well, maybe we can move the Tea Party to China as well, so they can protect the Chinese Job Creators as well. Hell, send them the congress as well, I can pretty much assure you that America would instantly be a much better place to be. America is broke politically, and soon fiscally as well. Thanks GOP.
It means big corporations are more than willing to sell out America to make a buck. They're called multinationals for a reason - the have no allegiance to us, only to profit, and globalization has given them a worldwide customer base. If we want them to pay their fair share and provide good-paying jobs here, we have to make them by force of law, not wait for sudden generosity on their part that will never come.
Republican talking point...read the fine print..
GE....THE JOB CREATOR (of jobs in China.)
Let the Chinese buy GE products. It won"t be me.
This is an outrage! This is an example of how the republicans are allowing these companies to avoid taxes and take American jobs overseas!
Jack, the message this sends to large businesses...the last one to leave for China, turn out the lights. Oh the lights are off for many already.
This is the reason for the Congressional Republican defense of corporate write-off's, right? So much for not taxing corporations to not threaten job creation. I think the Republicans need to be flushed at the next election.
American corporations doing business in communist countries should lose ALL their tax breaks in the United Staqtes. I am so appalled with GE moving to China that I will NEVER buy another GE product.
Jack, GE's slogan is "imagination at work". Have you figured out what they are trying to tell the American working public yet?
When you said "Obama hired him to creat jobs here, not in China..." I think you forgot to say "...YOU MORON!!!"
Very simple Jack – GE is showing all of us how the tax cuts can create jobs – right here ... oh wait, China ?
At least we don't have to worry about lossing any corporate tax revenue. GE doesn't pay tax's.....
Jack, maybe your question should be: What message does it send that Jeffrey Immelt is one of President Obama's economic advisors?
I can't say what I think their message is. Censors would not allow you to read it. As for me, I will never buy another GE product or watch NBC, their broadcast arm. The only way they will hear us, if they actually care anyway, is through their profits.
GE is telling the US we need more money and sorry for me I will not buy a GE product going forward from today sorry GE.
Nothing is transparent?
Unfortunately for us, as long as more products are made in China, it's only a matter of time before the R&D surrounding those products move to where they are produced. I just hope GE doesn't get tax benefits for this!
Jack get the Hint .....Congress and Obama are killing jobs.
G E is smart. The American people and the media just don't get it. So sad..
Entitlements and government spending are strangling our economy.
The big corporations have kept their word in creating jobs. The problem is we forgot to make sure that the jobs are in the USA. Corporations don't really want to create jobs in America when the work is cheaper overseas. It's just good business.
Jack, do you think I should send my Visa payments and car payments to China? -Francis in Montreal
The Republicans don't want to raise taxes. Requiring GE to pay taxes would be a tax increase, so it won't happen if the Republicans have their way.
Jack, Americans don't believe you. The Tea Party is telling them Obama is making it up.
Yet further proof that the "job creator" concept is just a myth. It's not about making America stronger with more jobs, it's all about making a profit for the shareholders.
GE, lets see? A greedy american company that puts profit over country. Pays no income tax, moves x-ray division to China. Hell, I bet that President Obama's economic advisor on job creation is a closet Tea Party member.
This definitely shows that could care less about THE UNITED STATES OF AMERICA..The bottom line is M.O.N.E.Y. It's that pure and simple. They could care less about job creation here in our good ole country..Greed is what makes the world go around.
This shows a hole in the logic of Scott Walker and the Wisconsin GOP. Even though corporate taxes were lowered and unions were busted, nothing beats paying close to nothing for labor and capital. This is why no amount of tax incentives or a "business friendly environment" will save that factory from leaving Wisconsin to China.
It means that the self avowed Immelt is a member of the G.O.P., that is GREED OVER PEOPLE
That congress would rather give businesses such as GE massive tax breaks than pay the troops their due salaries and benefits is reprehensible, yet seems to reflect the current attitude encountered across the American public.
This government is selling out the citizens of the USA...now they are going to outsource our jobs too???? This whole situation has become a 3 ring circus...it's ridiculous!!!! I'm appaulled!
GE taking these jobs to China means that GE will be contributing less tax money to our government, hurting all of us during this crucial period in our country's history when we are trying to solve our debt. . . oh, just a minute. . what?..GE hasn't been paying taxes?. .. . oh. . . uh.. . . nevermind
Our company also moved manufacturing to China. There is no big cost savings – our products made in China only cost 10% less than those made here. But...our quality of the products doubled! Why wouldn't we do it then?
Jack you finally asked the right question. Again this is what we as UNEDUCATED ppl of this country have chosen. Free market economy and some far fetch dream of democracy. Cut education cut healthcare for our old, and don't provide any public services. I mean who needs a post office I'll just ask my unemployed neighbor to deliver it on foot. Progression of this society is almost impossible but even bigger question needs to be asked if we default...is China going to own GE some day?
come on Jack, I bet the GE stock holders, probably many in america, are not upset. As a life long democrat, I am having my doubts.
First, what does it say about Democrats that they don't fight for the people, they are wimps. What does it say about our President that he hired a Republican to be an advisor. Why are we so surprised!! After taking a Political Science class a few years ago, I knew then what we should do...clean out the Senate and the House and put the positions up as real jobs. Everyone who wants to represent anybody in their state in the Federal Government will have to apply, post their resume, etc. Let all these rich people who are the only ones who can afford to run for office, have to do what the rest of us do, compete for a job. In that case, I can assure you that most of the current politicians would no longer have jobs. No grandfathering in either, no matter how long you've been "serving" you have to compete.
I just want to say if GE sends its company to CHINA then the american citizens should not buy GE products
This is just plain downright treason and should be treated as such!!!
Well, let's see, I need to manufacture my widget. I can sell it for three dollars all over the world. If I make it in America, materials, labor, taxes, health insurance, etc, will cost me $1.50 a unit and then with marketing and transportation I'll spend another $.50 so my profit on each unit will only be a dollar. If I make my widget in China it will only cost $.50 for materials, labor, taxes, health insurance, etc. So add $.50 to market and transport it and my cost to market is $l.00. So my profit is doubled. My shareholders are happy and I still get to live in an even bigger house in America. All I'm saying is you American middle class people are going to have to work cheaper, live poorer, and try to be competitive in the world market. It isn't personal, it's just business. You want a market driven economy, you got it.
Jack, we no longer have a democracy here and "we the people" has become obsolete. It's now we the "corporation"...they own us and they rule over us...we are no longer a free people but slaves to the corporate bottom-line but yet they headquarter here so they don't have to pay taxes and make huge profits selling their goods back to the American families but the jobs aren't here...it's time that the American people wake up and this "debt ceiling fiasco" I believe is just the catalyst to do it!
Jack, It's never been about taxes, and GE's tax burden - zero - proves it. Businesses seek out countries where they can pay the least in workers' salaries and currently China is that place. Profit is gold, and businesses always obey the Golden Rule of Profit.
why jack isn't it obvious? it's a great big THANKS from GE for the hard working American taxpayers' funding their move to China.
why don't president Obama and speaker Boehner just come out and tell us they've sold out every American and get it over with.
even with politics considered, it's like our government is run by a bunch of 2 year olds listening to their parents (lobbyists).
our country will never be the same again.
Smaller government and lower taxes will not help American industry compete with socialized economies like China and Germany.
Both are great at creating well-paying jobs, and it's not because of the "free market," it's because their governments (and taxpayers) subsidize a strong industrial policy that uses government policy and resources to stimulate their industries.
America needs to go back to an economy that is more of a hybrid of capitalism and socialism. This was the way it used to be in this country and is the only way to compete ON JOBS with countries like China and Germany.
It says that the US government is out of touch with the reality of business. If you reduce the ability of businesses grow in the US (Obamacare), then they will relocate to regions where there is growth. Soon you will lose the highest performers to regions where their talents can be readily employed and compensated. Then you'll be left with a country of people asking to be fed more but no one making any bread!
How are illegal immigrants and our corporations and companies the same? They don't pay taxes.
How about a 500% import duty on GE X-Ray products?
It just shows what this company thinks of the country that has allowed it to become what it is today. Also shows who calls the shots in DC as it pertains to tax loopholes. Kind of bit the hand that's been feeding them!
Great segment Jack; thanks for bringing this out. What this says to the American people and the difficulties we are face with in creating new jobs, is pure and simple: "It's not my problem." This is the same company that came begging for TARP money to keep GE Capital afloat, and this is the thanks we get – no taxes paid, and jobs sent to China. This is exactly why this job problem we have is worse then anyone really comprehend because the jobs we lost, in fact, are never, ever coming back in the numbers lost.
The message is: when doing politics, companies claim they work on the interests of the Nation and its people. In the case of the US-crisis, this is even more critical and important. On the other hand, when doing business, companies will do almost anything to cut costs and increase their profits, even though this means moving production sites to China. Of course the profits will be sent back to the US, but many people will lose their jobs in the US and the same or more will be created in China.
Yeah..whats new?? First it shows the stupidity of Obama for putting Immelt in the position he did..nothing new there..second If I had a business and I could make huge money in China I would move there to...its called free enterprise...nothing new there..yep lots of tax loopholes...didnt the republicans offer to plug a few of those in Ryans plan?? yep-nothing new there... This President is a non-leader, a failure...plain and simple
It basically all comes down to slaves. China has them, the US doesn't. Slavery at all levels–from manufacturing up to engineering. GE doesn't care about jobs in the US–why should they? Business morality is not profitable and in the modern era, we can clamor all day long about this company's profits or that oil company's profits. The appetite for profitability is insatiable–the rub is that as a society, we are consuming ourselves. Immelt and the others will be dead and in the ground before it has any chance of impacting them, so they just don't care. Have a great day!
You better learn Mandarin, Jack, because the Chinese are going to kick our economic butts.
The Chinese can make a 5 or 10 year economic plan and actually stick to it – we can't even pass a budget for the next year.
It is just further proof that tax cuts don't equal jobs. They (millionaires and big businesses) take their tax cuts, put them in the bank, transfer jobs overseas and keep the difference. Cutting taxes on 98% of the rest of Americans would actually create jobs since those people actually buy things and create demand. It's 30 years since Reagan but nobody has felt the trickle down yet....Not of money anyway.
The question is? What message is this sending to China. We already know where we stand these days.
Fool us once shame on you!
Fool us twice Shame on US!
A fool and his money are soon parted!
Ill Tell you the message it sends.
It says fire the morons in washington that do nothing to protect jobs in this country. Tariff and tax those out of sight that send jobs outta the country and problem solved
The message is that Leona Helmsley was right with her statement "only the little people pay taxes."
I have a GE Stove, I will not buy GE products in the future.
Let's move more jobs out of country, further trashing the middle class. Thanks to Reagan and Bush for making this possible. Guess I will need to make sure the xray machine was not made in China, based on the quality of most of what comes from there. Probably have the level uncontrolled.
Jack – This is not surprising. Free trade and anti American trade policies for the past 20 years have left America without income as all of our companies went to cheap foreign labor markets. A country without income becomes stone broke no matter what cost cutting efforts or increased taxation is put into effect. We are without income and spiraling into oblivion. This is all done under the subject, Globalization or New World Order. Frank, Florida
Well, Jack, it makes me want to get back in my car and return the GE bulbs that I JUST got home from purchasing. Nevermore.
The mssage is: Give it up! Our goose is cooked! Our country is as good as gone! And folks, you can speed the process up simply by votng Republican!!
Like all 'persons', GE is covering its bottom line against the ignorance of our elected officials. check out how Hershey was invited to leave the good ole USA by those in power. Get the profit making companies out of town so the political retirement program investments stay safe.
Obama's naming Immelt as his jobs czar was a tremendous joke. I am one of many whose GE job went to Asia. Took quite some time to find another job as I was in my 50's as the time. Now the x-ray biz is going to China. Exactly what is GE contributing to USA job creation? Exactly why do they, like many other corporations, get tremendous tax breaks as the 14 million unemployed Americans fall into poverty? If I were younger I'd move out of this country. We are quickly becoming a very large third world country ... rule by the richest, deteriorating middle class, widespread poverty. Never thought I'd see this in my lifetime but we are no longer government by and for the people. We are government by and for the corporation.
I am selling my tiny amount of GE stock tomorrow morning. I am certain it will make no difference to GE, but I don't have to support this company by buying it products, nor owning its stock. As for Immelt, he should have the decency to resign from the presidential Council on Jobs. I won't hold my breath. (Better still, Obama should ask him to resign! I won't hold my breath for that either.)
President Obama needs to fire Immelt! Nobody should buy anything from GE. 'Just another company that puts itself ahead of the American people.
A stab in the Back !
Palm Coast FL
Greed and profit at all costs are king and these founding principles of our nation have bitten us. We have no one to blame but ourselves.
I'm always tickled that in Ayn Rand's "Atlas Shrugged", John Galt is an engineer. If he was around today, his job might well have been outsourced to China. Where would he be then?
1. pay china its debt
2. assuage the china debt via profitable companies
I think this and the next few administrations will chose the latter
Why is everyone surprised? Corporate money owes the US now. A ten year war was backed by Oil and Military companies. Tea Party giving tax breaks to the Rich, Corporations and foreign companies. America is run by the wealthy and its a shame our children will not experience the American Dream unless they work in China, India or Brazil. Thank you politicians!
Its proof we can stop believing the lie international corporations take jobs to Chins because of excessive taxation and regulation in the US. They go there for cheap, obedient labor.
And GE is sending China hi tech jobs no less. What did the communists say, "the capitalists will compete to sell us the rope we'll use to hang them"
what it means is that GE doesn't see the USA as a good place to expand its business. (why would they?) what it means, despite the window dressing of Immelt being a job creation adviser to President Obama, is that, in the true American way, business comes first. after watching the first 20 minutes of tonights broadcast, who could blame GE?
This has got to stop...BOYCOTT GE
His company didn't pay Taxes last year and you really think he or his company cares about America.. I hust hope the Chinese Politicians come as Cheap as ours. Oh wait. What did GE give to PACS?
Jack, why are you surprised? After some 8 and 1\2 years of Bush Tax cuts, this is how the "job Creators" repay us. That and the fact that they pay out their officers and dividends, but never get around to "creating jobs". Let's not forget Harley Davidson, AT&T, and our good friends at ExxonMobil.
this is why we should stop calling them job creators. we need to realize that they use their profits the way they see. There has been stagnant job growth for the last 10 years, and now we are at the lowest employment levels yet, all the while, taxes have been the lowest in our nations history. My solution is to raise taxes on the wealthiest in order to earn more revenue, or give them an ultimatum, that when they create more jobs (instead of outsources for profit sake), which will create more tax payers, Congress will lower their taxes once again
This is exactly what is wrong with this country. Give the companies the big tax breaks and then let them take their business overseas. Office Depot just did the same thing on a smaller level. Got tax cuts and then moved their "back offices" out of the country. We need to cut expenses but lets start at the top, where there is so much waste, and in Congress and Senate, where they are not doing their jobs.
President Obama to GE CEO Immett "Your Fired"
Just more proof that many CEOs on Wall Street are scum. We all know that money equals power. Nothing can be done about it.
well it certainly doesn't mean job growth now does it......
I'm sending an email as we speak to ask for Jeffrey Immelts resignation. Seriously....... I'm not sure but I believe the President meant job creation in the United States not China but with all this double talk who knows! May the greatest superpower of all time RIP.....America not China!
It's time to accept the reality that corporations which we naively consider "American" are really global firms with no remaining affinity for Americans or our Nation. They won't pay tax and torture the legislative system with lobbyists to insure that. They won't repatriate foreign profits for any reason without a full waiver on those overseas profits. They have penetrated the USA marketplace, taken advantage of it...and are now moving onto newer and richer marketplaces.
The only thing limiting them is China's historic total disregard for any Western concepts involving Intellectual Property or Patents.
So good luck GE Health! You'll teach the Chinese how to build all that over-priced equipment...they'll clone your factory 500 miles inland where you never go...and next year they'll be selling perfect copies back here in the US at half your price point.
IN the end...when all these corps want the protection of America's "Rule of Law" attitudes...we should tax them for the privilege...Big Time.
shame on democrats and obama there is no two major parties anymore just one common party ..THE GREED PARTY,,congrats u finally can agree on something..........letting the fox guard the hen house brilliant............what has become of our country......
The message that GE is sending to Americans is, we no longer care about America! We only care about ourselves!
This is just more evidence that the President is in over his head. How do you select a man like Immelt for this position. But I digress, Wolf made the comment that You and he paid more income taxes ae well as most of your viewers than GE. As I understand it, only slightly more than 50% of americans pay income taxes. This is a fact that is more startling to me than GE not paying taxes because it has far less impact on the the success of our Democracy than a corporation not paying taxes. It is clear the entire income tax system needs to be trown out and now!!!!!
The message? THANKS MIDDLE CLASS CHUMPS!
The US is on the way out, China is on the way ,way up, and we are jumping ship.
Time to tariff the He'll out if these jerks, and tell ALL Corporations, you want to sell it here, MAKE IT HERE, EMPLOY AMERICANS!
China is now the "new normal". The US is in "decline" (politicians can't even agree on how to raise the debt limit) so businesses are looking ahead to the new numero uno!!
Learn to speak Chinese , I'm checking on how much air fare is from Phoenix to Bejing right after I'm done writing this.
GE's new matto. "We Bring Good Things To Life...In China".
Jack, how about a boycott. If the tea party folks what something to protest, let's start throwing GE x-ray machines into the Hawbaw ( not mis-spelled). Hey, let's tax them on the jobs they send to China. Personnally, this whole loop hole thing is very taxing!!!!
Well Jack ,it's called the undoing of America.
Immelt moving jobs to China: Reprehensible. I am selling my GE stock. it's the least I can do.
GE paying no Federal taxes on 14 billions of earnings? SHAMEFUL. The company as a whole are TRAITORS to the country they call home to.
If the Congress in Washington weren't such do-nothings, this could be remedied easily.
As China takes control of the world through economic gains our politicians on both sides of the aisle continue to watch it happen as we the people pay the ultimate price. Jobs continue to migrate overseas while we ask for higher wages and health benefits. We do it to ourselves.
Give it ten to twenty years and China will own our nation and further become the leading power player in world political and economical situations. We did it to ourselves and continue to pay the price.
Does GE Surprise Anyone? This is a service economy, as we started being remind about during the Regan years. Corporations in search of greater bottom line profits exported our work overseas in favor of low paying wages and unemployed Americans. The planned ongoing exodus of good paying jobs has been going on for years. The result has been to lower the average wages paid out to US workers for what jobs remain. Corporation sit on 2 trillion in investment capital and will only invest in China something is very wrong Speak up America
So what else is new??? Why shouldn't they do this since President Bush gave them the great tax cuts. The elimination of the tax cuts to these multi-billion dollar companies is what raising the debt ceiling is all about. How quick they forget that they voted and got the debt ceiling raised 7 times when President Bush was in office. At this point if I was President Obama I would pull a Sarah Palin and just quit. Let Boehner and Palin run the show!!
As a college student, the message this sends to me and my generation is that we cannot graduate and count on the nine to five my parents have. If I want a good job in America I am going to have to create it myself.
It means we are all taking a long walk on a short pier!
Americans taxpayers are "Suckers"! Pay for wars with no intelligence, cha-ching! Pay for corporate perks and no tax cuts, cha-ching" Pay to teach Afghans how to read and arm their police and army, cha-ching!
Give tax breaks to GE while you are losing your home, car, business, healthcare, cha-ching!
We are the the biggest suckers on the planet!
I think that businesses like GE that move jobs to China or anywhere overseas should have to pay a higher income tax rate and lose all the special tax perks. I know I will not knowingly purchase any GE products in the future.
Good opportunity for President Obama to make a statement and fire his GE jobs creation adviser. It's that simple. Borrow a line from "the Donald" and tell Jeff Immelt, "Your fired". Time for the president to get tough and do what he was elected to do.
Cold Spring, NY
GE pays no taxes and moves jobes overseas but is a friend of Obama so we never hear about them but oil companies pay significant taxes and he vilifies them.
Maybe they skipped right over the next logical step of moving to a right to work state. They probably wanted to but due to the NLRB suit against Boeing, they cant risk it.
Of course most will think this is a "greedy move by an evil corporation"-in which they own stock in, buy products from, etc.
I cant take the stupidity of consumers anymore. Unions combined with selfish consumers have been destroying this country for decades.
I think it would be a good idea if you went to the floor of the congress and ask the tea party congressmen why they don't address this obvious problem...or maybe they'll be proud of their tax breaks to GE and for creating jobs .....for the people in China.
I think they all should move their desks to China along with GE. The are part of the problem – not the solution.
Corrupt government officials. Money unaccounted for. Bankrupt country. Political parties hijacking the economy. Reckless spending. G.E. moving to China. which we know other companies will follow. ATF sending weapons to mexican druglords. Yet we are teaching our kids that America is the best country in the world. im sure many of us adult americans are just as confused and feel left in the dark as our children. its like the Titanic sinking all over again.
By the way, in the 80s GE moved 130,000 jobs out of the states, leaving just 270,000 here. And we wonder why the economy is so bad. Overall, the US has lost 30-50 million jobs. And the tax revenue that goes with it.
The same message the rich, powerful and connected have always sent, Jack. A laugh in the face of the middle and lower classes. Perhaps the French Revolution was a better one than the American Revolution in one specific way. Their ruling class became scared to death of the people and what they could do to the so-called rulers. Our people can't influence our politicians without shoving huge amounts of cash into their pockets first.
If a company wants to move production to China or other country then the Company President, CEO, and Board of Directors should lose there American citizenship. They then can go and live in that country.
GE's move is no suprise at all. The Republicans have been looting the U.S. for years. We now live in a country where corporations have the same rights as individuals and governments can use eminent domain to take property from individuals and give it to corporations in the name of economic development.
If we're looking to Mitch McConnell for advise we are really in sad shape. I lived in Lousiville, Kentucky for ten years while he held various offices. If he shook your hand you immediately went to the washroom and scrubbed.
Jeff Immelt might be a 'self described Republican", but he is very buddy buddy with our current President. It would be interesting to know if this "self described Republican" voted for John McCain or Barack Obama. It is truly ironic that a guy on the President's jobs council would allow his company to move business to China. As far as GE's tax situation, much of the reason for them paying no corporate taxes is due to all those "green" energy credits. Notice how NBC was touting global warming and "green" energy? Time to end all these silly green energy credits.
The Republicans are right. Lowering taxes on these corporations will create jobs. In China, India, anywhere but the U.S. No wonder the stock market has done so well while the rest of the country languishes. The corporations and the folks in the upper 5% of wage earners are making a fortune because they are moving jobs overseas.
Jack Cafferty sounds off hourly on the Situation Room on the stories crossing his radar. Now, you can check in with Jack online to see what he's thinking and weigh in with your own comments online and on TV.
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