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Peter Lanza father of Adam Lanza is the TAX DIRECTOR for General Electric!


Peter Lanza

Tax Director and Vice President – Taxes at GE Energy Financial Services

http://www.linkedin.com/pub/peter-lanza/11/515/83b

GUESS WHICH COMPANY PAID $0 IN TAXES (ON $14.2 BILLION IN PROFITS)? HINT: ITS CEO WORKS FOR OBAMA

Half of all Americans don’t pay federal taxes on their income. And neither, apparently, does General Electric, the multi-national company that reaped $14.2 billion in profits last year. Though G.E. is the largest corporation in the U.S., it did not have to pay a dime in U.S. taxes, according to the New York Times. In fact, the company claimed $3.2 billion in tax benefits.

“That may be hard to fathom for the millions of American business owners and households now preparing their own returns, but low taxes are nothing new for G.E. The company has been cutting the percentage of its American profits paid to the Internal Revenue Service for years, resulting in a far lower rate than at most multinational companies.

Its extraordinary success is based on an aggressive strategy that mixes fierce lobbying for tax breaks and innovative accounting that enables it to concentrate its profits offshore. G.E.’s giant tax department, led by a bow-tied former Treasury official named John Samuels, is often referred to as the world’s best tax law firm. Indeed, the company’s slogan “Imagination at Work” fits this department well. The team includes former officials not just from the Treasury, but also from the I.R.S. and virtually all the tax-writing committees in Congress.”

According to the Times, “one of the most striking advantages of General Electric is its ability to lobby for, win and take advantage of tax breaks.”

These tax breaks are incredibly important to G.E.–so important that G.E.’s head tax man got down on his knees and begged Rep. Charles Rangel to let a particularly lucrative one extend past its expiration date in 2008:

http://www.theblaze.com/stories/guess-which-company-paid-0-in-taxes-on-14-2-billion-in-profits-hint-its-ceo-works-for-obama/

G.E.’s Strategies Let It Avoid Taxes Altogether

General Electric, the nation’s largest corporation, had a very good year in 2010.

The company reported worldwide profits of $14.2 billion, and said $5.1 billion of the total came from its operations in the United States.

Its American tax bill? None. In fact, G.E. claimed a tax benefit of $3.2 billion.

That may be hard to fathom for the millions of American business owners and households now preparing their own returns, but low taxes are nothing new for G.E. The company has been cutting the percentage of its American profits paid to the Internal Revenue Servicefor years, resulting in a far lower rate than at most multinational companies.

Its extraordinary success is based on an aggressive strategy that mixes fierce lobbying for tax breaks and innovative accounting that enables it to concentrate its profits offshore. G.E.’s giant tax department, led by a bow-tied former Treasury official named John Samuels, is often referred to as the world’s best tax law firm. Indeed, the company’s slogan “Imagination at Work” fits this department well. The team includes former officials not just from the Treasury, but also from the I.R.S. and virtually all the tax-writing committees in Congress.

http://www.nytimes.com/2011/03/25/business/economy/25tax.html?pagewanted=1&_r=2&ref=business

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  • Warner

    His killing has nothing to do with taxes. His mother had guns. He had guns at home.

    • http://www.facebook.com/people/John-Bravo/100001488380527 John Bravo

      That’s right guns did it. Every body don’t bother looking past the gun…It’s the guns fault. Nice try Skippy but some of use can look past the weapon used..

    • http://profiles.google.com/tyler.abeo.jordan Tyler Jordan

      And if the government is successful at banning guns and the psychopaths start mowing down kids crossing roads with cars, it’ll be “His mother had a car. He had cars at home.” — of course you won’t hear such an argument then, as once the government strips people of their guns, people like me, who would point out the irrationality of your statement, will be put into gulags for our ‘racist hate speech’.

    • S~LC

      he was fed fear from a mother with a personality flaw and no faith in her own future…. toxic parenting played a part in his moulding :/

      and every son needs his dad …his dad had a penchant for money and a dwindling desire to be a dad….

  • http://www.facebook.com/bellestarr3030 Carole Stockrahm

    I’m sure that with his position he had Cadillac Health Insurance, and as his father, he was responsible for making sure his son was being treated for any health issues, so, and these children should be schooled with children like them as well, there is less chance of bullying these kids, and the teachers of these kids can monitor their behavior better, and if they start showing violent behavior, then that, is another issue, I don’t think all these drugs are the answer, they need to find out the causes(clinical) and try to repair with treatment.

    • S~LC

      Rudolph Steiner Schools are designed for children just like his son….. obviously the dad was too busy making millions to care :(

  • rgray222

    It is highly unlikely that he got down on his knees and begged Charlie Rangel to extend a tax break. History has proven that this is not how Rangel operates. Rangel is a felon in our terminology, in the halls of congress what he did (tax cheat) it is simply called a “ethics violation”. Rangel was aptly rewarded financially to allow another tax cheat to cheat!

  • RS

    Ending rampage shootings by eliminating gun ownership, is like ending drunk driving by eliminating car ownership.

    How about legislating affordable mental health insurance coverage that covers more than 50% of pricey private psychiatric treatment and creating accessible community mental health services for families? How about allowing responsible, law-abiding persons to receive legal and police training and receive a license to carry a sidearm? What if an administrator at Sandy Hook school had that training and access to a firearm in a safe at the school? There’s a reason rampage shooters don’t attack police stations or National Guard barracks -they want defenseless victims. The Sandy Hook shooter shot himself simply in response to the sound of approaching sirens, he would have caved to even minimal retaliatory fire.

    How about we stop being sheep and allow responsible, law-abiding people to act like responsible, law-abiding people by allowing them to take positive action to defend themselves and their neighbors without undue fear of being treated like criminals?