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Name: The government of the United States of America
Age: 135
Occupation: the people who govern our nation
Last Seen: Washington, DC
Bee-otched For: not bringing a lot of good things to life
Age: 135
Occupation: the people who govern our nation
Last Seen: Washington, DC
Bee-otched For: not bringing a lot of good things to life
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Just imagine that right now in America, there's classrooms in Detroit that have 60 students, people with cancer who don't have health insurance and that people with good paying jobs are about to lose them.
And yet, General Electric didn't pay a dime in taxes this past year.
That's right! GE had worldwide profits of $14.2 billion and $5.1 billion in the U.S. alone. As a matter of fact, they claimed a tax benefit of $3.2 billion.
There's several reasons why GE's taxes are zippo. According to the New York Times, it's everything from fierce lobbying to moving its profits offshore. The company even hired several former employees of the Treasury and IRS to run their tax department. Right now, America's corporate tax rate is 35%, one of the highest in the world. However, many other companies are taking a look at GE's strategies and applying it to their finances.
This coming from a company whose nuclear reactors are ready to explode in Japan after that devastating earthquake a few weeks ago.
But yes, this is the same GE that has built everything from nuclear reactors to bombs that will bring good things to their untimely death. And since GE's now avoiding the tax man, we can all kiss our sweet asses goodbye.
Sadly, I wish that our government could take a big look at how GE operates. But as long as we have a house of Republicans and a president that ends up cowering to their needs, and not to forget a nation of people hopped up on the media's BS coverage of the Tea Party and how their view of the nation hating Obama, they'll continue to operate this way. Bear in mind, too that GE still owns 49% of NBC Universal and they've even cut their own taxes even further by moving some of their shows to their home state of Connecticut (namely Maury, Jerry Springer and Steve Wilkos) for tax rewards from that state's governor, a Republican.
The Republican Party: Imagination at Work.
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