Tuesday, March 29, 2011

GE still paying NO US TAXES‏

http://www.nytimes.com/2011/03/25/business/economy/25tax.html Not only does GE not pay taxes but the US Government actually owes them 3.2 BILLION. That is what happens when you run GE right out of the Oval office. Look at the picture of Immelt standing next to his whipping boy Obama. You think Immelt lets Obama sit at his oval office desk? Probably not. "Oh Pardon me Jeff I didn't know you were in here. I was going to do some work on Afghanistan but I can come back later. Sorry if I disturbed you. Won't happen again". G.E.’s giant tax department, led by a bow-tied former Treasury official named John Samuels, is often referred to as the world’s best tax law firm. Indeed, the company’s slogan “Imagination at Work” fits this department well. The team includes former officials not just from the Treasury, but also from the I.R.S. and virtually all the tax-writing committees in Congress. President Obama has said he is considering an overhaul of the corporate tax system, with an eye to lowering the top rate, ending some tax subsidies and loopholes and generating the same amount of revenue. He has designated G.E.’s chief executive, Jeffrey R. Immelt, as his liaison to the business community and as the chairman of the President’s Council on Jobs and Competitiveness, and it is expected to discuss corporate taxes. The fox guarding the hen house.

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