Build Date: Wed Sep 16 01:32:27 2026 UTC

A rich person once sent me some porn, as a kind of thank you. Lemme tell you, rich people's porn is different from the porn the rest of us get.
-- Patient Joab

General Electric: Corporation with Benefits

by Baron Earl

2011-03-31 09:45:21

GE reported global profits of $14.2 billion with $5.1 billion of the total from U.S. operations. Its American tax bill? LESS THAN ZERO. Based on tax laws which G.E. lobbyists helped to write, G.E. managed to claim a tax benefit of $3.2 billion.

The next time you hear someone complaining that America has the highest corporate tax rate in the world, ask them if they can name one corporation that actually pays that rate of tax.

We haven't been able to find ONE.

Over.  End of Story.  Go home now.

iambic@pigdog.org

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