MoveOn Calls on Immelt to Resign WH Post
EmailMoveOn today joined with former Senator Russ Feingold’s group, Progressives United, to call on GE CEO Jeff Immelt to resign from the President’s Council on Jobs and Competitiveness.
MoveOn’s petition comes on the heels of press stories that GE made $14.2 billion in profit and paid no federal taxes.
In their email, MoveOn states, “Immelt now sits as chair of the President's Council on Jobs and Competitiveness (Jobs Council), representing corporate America to the President on matters like job creation and corporate taxation. That's a slap in the face to every hardworking, tax-paying American—especially GE employees.”
After sending the email, MoveOn’s Executive Director, Justin Ruben, said:
“It is outrageous that GE made more than $14 billion in profits last year and paid no federal taxes. At a time when many in Washington, including the President, are worried about our nation’s deficit we should be punishing–not rewarding–companies like GE who are robbing the US Government and taxpayers of billions of dollars. This sort of bad corporate behavior should not be rewarded with a top White House appointment. Jeff Immelt should resign immediately.”
Feingold has also called for Immelt to step down in an email to supporters.
“Someone like Immelt, who has helped his company evade taxes on its huge profits — and is now looking to workers to take major pay cuts after his compensation was doubled — should not lead the administration's effort to create jobs,” said Feingold.
Last Friday I asked White House Press Secretary Jay Carney about Immelt’s White House position versus GE’s tax status.
Without specifically referencing GE, Carney said it was an example of why the President wants to reform the corporate tax structure.
“It is part of the problem of the corporate tax structure that companies hire, you know, armies of tax lawyers to understand how it works and to take advantage of the various loopholes that exist, that are legal, in order to reduce their tax burden. And he thinks that in the name — for the purpose of greater competitiveness and job creation, we have to address our corporate tax structure,” said Carney.
- Jake Tapper
White House Loves Aggressive Journalism ... Abroad 
Virginia Ultrasound Bill Hits Nerve
Giving Immelt the job was just payback for what he knows about the union takeover of GE. He could cause some bad times for Obummer.
The president also wants someone that follows orders,another good reason to hire him.
Posted by: captaingrumpy | March 30, 2011, 5:51 pm 5:51 pm
I’m not a fan of MoveOn, but this story about GE brings up a serious need for changes to US tax structure.
GE reported worldwide profits of $14.2 billion; $5.1 billion of the total came from its operations in the United States. So how much did it contribute in taxes to the US? NOTHING. ZERO.
Instead, we the taxpayers, gave G.E. a tax benefit of $3.2 billion!
So is it worth the continuing tax advantages for massive Corporations like GE since they create jobs in the US making light bulbs or dishwashers?
That’s a question for the President and Congress to evaluate. In the balance, what’s the value?
GE’s consumer appliance division accounts for less than 6% of revenue. GE has moved most manufacturing out of the US and morphed into an unregulated lender; GE Capital provides more than half of the company’s profit, squeezing whatever pennies it can out of Middle Class Americans.
Given that President Obama has appointed General Electric’s CEO to help chart our nation’s economic future, it is a safe bet that unless US citizens demand tax structure changes, our future won’t be focused on rebuilding Family Wage jobs here at home.
Posted by: green.goddess | March 30, 2011, 5:57 pm 5:57 pm
MoveOn are typical lefties, who are also the ones telling us we need subsidies for X and Y because they’re “green” or “socially responsible.” Don’t blame GE for taking advantage of all of those subsidies and tax breaks. They worked the political system (and Obama) pretty darn good.
This should be a sign that we need to close all the tax loopholes and deductions and just lower tax rates.
Posted by: Jose | March 30, 2011, 6:27 pm 6:27 pm
They’re only evil, capitalist pigs when there not in full worship Obama mode.
Posted by: s | March 30, 2011, 6:34 pm 6:34 pm
they’re
Posted by: s | March 30, 2011, 6:34 pm 6:34 pm
Personally I think he, Immelt, should be in charge of the IRS! All people, not just legal-persons (corporations) should be able to get away without such draconian taxation. Our Founder’s never intended, nor desired, such an amazingly intrusive taxation scheme….special tax courts, presumptions of guilt, self-incrimination regulations, etc. Hails out to GE….the problem is that they got their tax through manipulations of lobbyist-based loop holes and, likely, “friends” in government. Some “change”, Obama!
Posted by: Ed | March 30, 2011, 6:55 pm 6:55 pm
At first I sided with the fact this is simply how the laws are written and personally I don’t demonize this guy since he followed the law. Then I heard he shipped more jobs out AND they’re getting ready to ask the employees to take pay cuts and bennie hits. He needs to go from this position. This is absurd. Add to it him getting a raise? Ridiculous.
Posted by: secondlook | March 30, 2011, 7:16 pm 7:16 pm
Flat tax folks, it works.
Posted by: Glen | March 30, 2011, 8:04 pm 8:04 pm
As we have seen the tax cut extensions have provided corporations to increase their profits highest as ever, while jobs still continued to be outsourced. Now where are those jobs? Boy folks you get what you ask for. And how is cutting the deficit going to create jobs?
Posted by: phallon | March 30, 2011, 8:17 pm 8:17 pm
I don’t usually agree with Move On but they’re right this time. Immelt needs to resign. What was Obama thinking, by giving him that position? This is the most corrupt, unethical POTUS in the history of our country.
Posted by: jacaranda | March 30, 2011, 8:32 pm 8:32 pm
That one I will back.
Posted by: Rick McDaniel | March 30, 2011, 8:49 pm 8:49 pm
Flat Corporate and Personal Income tax no deductions for anything, period.
Posted by: snewsom2997 | March 31, 2011, 10:32 am 10:32 am
Don’t worry folks Obama is hiring thousands of New IRS agents to go after folks like Immelt and the corporations his ilk run.
Wait!
What’s that? ? ?
I’ve just been told the new IRS agents are to go after Americans who don’t comply with YesWeCanCare™, the Health Care Reform Law.
Never Mind.
Posted by: Noz | March 31, 2011, 11:02 am 11:02 am
Proof positive that Obama lies when it suits him.
Posted by: LongT | March 31, 2011, 11:42 am 11:42 am
One term president.
Posted by: LongT | March 31, 2011, 11:43 am 11:43 am