Saturday, March 26, 2011

General Electric Paid NO TAXES on $14.2 billion in Profits

G.E.’s Strategies Let It Avoid Taxes Altogether - NYTimes.com
"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."

Dems and Repubs, the system is corrupt.  Do you see this yet?  The complex tax laws benefit those that can hire lawyers and accountants to find loopholes in those laws (the ones their lobbyists inserted into the laws).  Can you see this?  Simple systems close loopholes and promote equality.  A flat tax.  Simple laws.  Why do you all seem to think overly complex bureaucracy is somehow a virtue?