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

[bernardos70]

I just saw this article, as I'm sure most of you have, but thought I would share it here:

http://www.nytimes.com/2011/03/25/bu...x.html?_r=2&hp

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.
[snip]
Since 2002, the company has eliminated a fifth of its work force in the United States while increasing overseas employment. In that time, G.E.’s accumulated offshore profits have risen to $92 billion from $15 billion.

I find it quite ridiculous that a company can work the system this way, and leave the suckers to pay for the taxes (the rest of America).

[alexamenos]

GE...

...long time top 10 *defense contractor* (not war profiteer!)...

...dominant player in the mainstream media (not propagandist!)....

...lead advisor to Obama on the economy....

....recipient of oodles of *stimulus funds*....

GE, they bring good things to life!

[bernardos70]

It's incredible how far behind Brazil is from the USA, yet it figured out two parties are not enough choice to represent the country. Whoever decided that there are only two positions to take in any issue (especially with some parties taking the same exact AND wrong position on some issues)?

[92bDad]

I'm all up for a Toga Party!!!