Friday, March 25, 2011

Corporate Welfare

I was reading the New York Times this morning and ran onto this story about GE not paying any corporate fact, we owe them $3.2 billion dollars refund. GE is the largest corporation in America and had billions in profits last year. Read more of this story here:

"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 really makes me sick!

I got my real estate tax appraisal yesterday and the appraisal for the taxes on my house went up $5400. in this one year. I struggled to pay last year's tax. They had the house appraised at $72,000 last year and I appealed and they lowered it to $68,000. I will appeal again but I don't know whether I can win a second appeal. Nevertheless, I will give it a shot. I still owe the second half of last year's tax. My taxes on this house were nearly $1300 last year. Lord only knows what they will be this year if I lose the appeal.

Furthermore, one of my friends (whose husband used to be a contractor) came by last night to tell me that Saturday's hail storm had damaged my roof. I have $1,000 deductible home owners insurance since nine years ago Coffeyville had a major hailstorm here and every home in Coffeyville had to have a new roof. None of the insurance companies would even sell $500 deductible after that experience. So not only must I figure out a way to come up with the taxes on my house, but I also have to come up with another $1,000 to have my roof repaired. I have half a notion to sell my house and move into senior housing.

Then on top of all that, our hours at the job training position where I work, have been cut from 40 hours per pay period to thirty hours per pay period. So I will lose ten hours pay per pay period....or about $70 per pay period.

So I can't win for losing.


marlu said...

Hang in there Margie. It is so unfair for those corporations to pay NO taxes and then get a refund!
There must be a better way to settle this tax structure.

Hope your appeal will be successful.

Betty said...

The decision I mad several years ago to sell my house and rent an apartment was the best decision I have ever made. It took a huge load off of my shoulders. Free at last!

Margie's Musings said...

I have to get an appointment to do an appeal, I am told.

So, I will call and get one.