Wednesday, October 19, 2011

G.E. Strategies = $ Billions In Profits And Zero $ In Taxes. Gee, G.E....

General Electric is America’s largest corporation and it (yes, that's "it" and not "he" or "she") had a very good year in 2010: G.E. reported $14.2 billion in international profits and declared that $5.1 billion of those profits came from its U.S.-based boffo biz.

So, a great question to ask is this...

"What Did General Electric Pay In Taxes for its $5.1 Billion In American-Made Profits?"

Zero. Zip. Zilch. Nada. Absolutely Nothing.

Sadly, I kid you not.

In fact, General Electric actually claimed it was owed a tax benefit of $3.2 billion.

The corporate motto of General Electric is "Imagination At Work".

In "light" of this information, how 'bout we change that motto to: "General Electric: Tax Evasion At Work".

Here's the link to the New York Times article entitled "G.E.'s Strategies Let It Avoid Taxes Altogether", that describes how they do it (Hint: It involves lots of $$$, lots of  lobbyists and large corporate (ahem) "contributions".):

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