|All messages are published
with permission of the sender.
The general topic of this message is Business/Commerce:
The presidents jobs czar Jeff Immelt
Sen. Bill Nelson
Rep. Gus Bilirakis
Sen. Marco Rubio
March 13, 2013
Mr. President. I couldn't help but notice that you "supposedly" are very pro closing tax loopholes and pro bringing jobs home. However, you choice of Jeffrey Immelt as you advisor brings to bear some signicant questions. Why is it that you choose the head of a company G.E. that has 102,000(million) in total assets permanently invested overseas in 2011, $108,000(million) permanently re-invested overseas in 2012, for a total increase of $6,000(million)?
The total profits held offshore by 60 big U.S. companies grew 15% in 2012.
Why? So they don't have to pay the high taxes we have here in the U.S.
G.E., as one example of 60 other big name companies, made how many billions in profit and paid the U.S. government how much in taxes?
Obviously Mr. Obama the tax system is NOT working for us here is it? The average taxes paid on overseas investment is 5%. It would cost big companies a 35% tax to bring the money back. Why not rather that "attacking" profit and success, you embrace it and find a way to lower taxes on coporate America and bring the money back home? Do you want re-investment and jobs back in America? Your actions, and the actions of your party, do not prove this out.
oldsmar , FL