The regime of Barack Hussein Obama wants to raise taxes on the rich. Yet they allowed GE not to pay taxes. This is typical of 3rd Liberation or Fascist regimes. They crush small companies, but give preferences to their cronies. This is the State Capitalism model that Obama is emulating in relation to GE. Their profits rose 77% last quarter, tax free!
General Electric Co. reported a 77% increase in first-quarter earnings, lifted by marked improvement at its GE Capital financing arm and gains at most of its industrial units.
The company also boosted its quarterly dividend by a penny to 15 cents. The move marks GE’s third dividend increase in the past year, although the payout remains well short of GE’s 31-cent dividend before the financial crisis and economic downturn.
“Our environment continues to improve and get better,” said Chairman and Chief Executive Jeff Immelt on a call with analysts, noting that the restructuring of GE Capital was ahead of plan while the quarter saw record orders for its industrial unit.
Crony Capitalism is Obama’s model. GE is benefiting from creating the Obama phenomena. Instead of being punished for having the blood of American troops on their hands, they pay no taxes. Welcome to Obama’s America.
Tags: GE, Jeff Immelt
