GE Tax Break
One news that made rounds this week that got my attention. I'm not the only one who noticed it, but more people should have seen this news item. It was revealed this week that General Electric paid no Federal Taxes in 2010.
The first thing I wanted to say was "Wow! How did they get such a nice tax break?" GE made $14.2 billion in profits in 2010 but did not have to pay a penny in Federal taxes. I work 55 hours a week and have a good percentage chopped of my paycheck a week for taxes. I make a fraction of what former GE CEO Jeffery Immelt made, now the chairperson of President Barack Obama's Economic Advisory Board.
The question can easily be answered. All the tax loopholes that corporations enjoy. Can you blame GE for taking advantage of the loopholes that is available to them? If anyone should bear the blame, it's Congress. They are the one's who make the tax loopholes possible. They are the one's who are giving GE the ammunition that GE is so happy to use.
So while the small businesses and the average citizen continues to get hit with taxes, multinational corporations like GE continue to enjoy a tax free existence.
Manny Ramirez
This past week came the most sudden and unusual sports retirements. For Boston Red Sox star Manny Ramirez retired from Major League Baseball. His current team, the Tampa Bay Rays didn't even find out about his retirement until they heard about it from Major League Baseball.
As it turns out, Manny Ramirez tested positive for drugs during spring training. He previously served a 50 game suspension from testing positive for performance enhancing drugs. As a second time offender, he faced a 100 game suspension, close to two-thirds of a season. Rather than go through that, Ramirez chose to retire.
So that ends the career of what was no doubt, one of the best right hand hitters ever. Now he won't be entering the Hall of Fame anytime soon. If ever. Mark McGwire never tested positive for performance enhancing drugs. Rafael Palmeiro tested positive once. Neither so far has come close to getting enough votes to get into the Hall of Fame. Ramirez tested positive twice.
Ramirez is indeed one of the best right handed hitter ever. But he could be very well remembered for steroids and for his occasionally childish behavior.
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