G.E. Paid No Taxes on $5.1 billion in Profits
Yeah, hello, government? If they paid some taxes on that, it could go toward that thing called the deficit. How the hell is this even possible? The article actually says how.
The main reason G.E. is so adept at avoiding paying taxes, Kocieniewski writes, is because it’s compiled an all-star team of in-house tax professionals plucked from the Internal Revenue Service, the Treasury Department, and “virtually all the tax-writing committees in Congress.”
Isn’t that lovely? Hire former IRS employees and lobby like your profit depended on it (because it does). And the GOP and their supporters still want more tax breaks for corporations? I do not get it. Is it socialist to want GE to pay some taxes? If so, hand me a Che beret.
March 25th, 2011 at 2:43 PM
It’s not socialist to expect citizens to pay taxes. That is in the Constitution.
Corporations worked hard to earn the status of “citizen” in Citizens United vs. FEC</a. and much earlier in Santa Clara County v. Southern Pacific Railroad.
They need to ante up now just like real citizens.
March 25th, 2011 at 2:56 PM
That really blows. They want all the benefits of being “citizens” except for the “citizens have to pay taxes” part.
March 25th, 2011 at 3:14 PM
Actually GE gets tax refunds, instead of paying into the system. Its not right, and more and more corporations are getting away with it, and the GOP dosen’t seem to give a damn.
March 25th, 2011 at 3:26 PM
Oh even worse! That is not right at all.
March 26th, 2011 at 12:24 AM
I would just like to make everyone aware that GE owned MSNBC for the longest time.
Just a fun fact for you all to mull over.
March 26th, 2011 at 8:26 AM
That’s not exactly breaking news, Terrance.
March 26th, 2011 at 10:40 AM
They was the sole owner of NBC and MSNBC, but now Comcast has bought 51% stake of NBCUniversal.
March 26th, 2011 at 4:05 PM
There’s a reason I mentioned it…
March 26th, 2011 at 2:07 PM
Everyone knows that!