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.
All these poor, poor corporations, being driven out of business by oppressive tax schemes. Thank goodness there’s a whole raft of business-friendly politicians finally installed in office who can give them the tax breaks they so desperately need to get the economy back on track!
3.2 billion = 64,000 50k/yr jobs.
Tell GE to take a hike, hire 64,000 people to build infrastructure, and get some of that 50k back in income taxes.