GE's U.S. Tax Bill? Zero

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.

Read the whole story: nytimes.com

Comments

[jdcrump]

10:22 AM on 04/01/2011

I see the corporate shills are busy here. Tell them the rates don't matter unless you actually pay that rate. I doubt any corporation does. What counts is the revenue collected and since corporations use all the loopholes and accounting trickery at their disposal to pay 0 or 1%, the US actually collects less revenue than other countries with lower "rates". Don't be fooled.

[patsydecline]

12:35 PM on 03/29/2011

some gentleman i believe from an outsourced call center in india just called(i'm on the no call list) wanting to sell me a general electric home security system...and i said i'd be much more excited about purchasing the secrets of how g.e. gets out of paying taxes while making obsene profits ...then maybe if they didn't outsource jobs and i was paid enough i could afford something someone might want to steal...

[dm1999]

07:25 PM on 03/28/2011

GE paid 0% taxes in 2009 and 2010. I can see GE's CEO borrowing a line from Charlie Sheen... paying taxes are for trolls!

[SparkyGump]

01:20 PM on 03/28/2011

Need anymore proof republicants are changing our country into a corporate oligarchy? Welcome to the Corporate States of America; socialism for the rich, capitalism for the rest.

[FarOutFish]

12:20 PM on 03/28/2011

The bought and paid for those tax breaks fair and square, at least by government standards. Even more ridiculous Washington is giving GE Billions in subsidies for wind turbines and solar development. .

[Erdgeist]

12:56 AM on 03/28/2011

U.S. corporate taxes are NOT the highest—that is just right-wing bunk. Check this out: http://www.ctj.org/pdf/corporatetaxreform.pdf

[jdcrump]

10:10 AM on 04/01/2011

It's the usual Republican trickery on this one. US corporate tax RATES are high. Collected revenues are lower than other countries with lower rates because of all the loopholes. They neglect to mention that part when they try to convince us that teachers and us other commoners must sacrifice so they can lower the corporate rates.

[greyK]

10:21 PM on 03/27/2011

this is evidence that US companies ARE NOT paying the highest tax rate in the world. bachmann and the baggers might want to start changing their tune on that whopper.

[LunaPark]

10:26 PM on 03/27/2011

You should've watched 60 minutes. Cisco moved operations overseas, created 100,000 plus jobs in Ireland, has $40 billion in cash being spent outside of the US because our corporate taxes are the highest in the industrialized world. If it makes you feel better, keep denying it.

[greyK]

07:35 AM on 03/28/2011

facts have nothing to do with how I feel about it. they can say they pay high taxes all they want and so can you. there's lobbyist every single day, paying off "our" (should be their) elected reps to fight legislation that closes loopholes. check out how many bills the GOP have introduced in the past few months to undo legislation pro-financial accountability.

[SparkyGump]

01:17 PM on 03/28/2011

That's not true. There are NOT 100,000 Cisco jobs in Ireland. Just another faux "news" lie.

[muck-raker]

08:03 PM on 03/27/2011

68% of US Corporations PAY NO Federal TAX

http://money.cnn.com/2008/08/12/news/economy/corporate_taxes/

[muck-raker]

08:00 PM on 03/27/2011

Goldman,Sucks on a 2.3 billion NET Profit paid 1% tax......Most Americans making 36000 gross after figuring in your deductions probably pay 15% or more. go figure

[Edward Taylor]

05:37 PM on 03/27/2011

and if I pulled these things I'd go to jail, go figure

[tribilin219]

12:56 PM on 03/27/2011

Is there two bills of rights in this country? One for the Rich, and one for the working class?

[muck-raker]

08:01 PM on 03/27/2011

yes but it is an unwritten law...if you scratch your legislators back he may scratch yours....a little

[hamsteronwheel]

12:13 PM on 03/27/2011

we are all hamsters on neocon "financially engineered" wheels...

"As New York Times columnist David Leonhardt columnist recently put it, a company like General Electric is, indeed, "expert at avoiding taxes.""

GE is also a major EXPORTER OF JOBS which of course is why Obama appointed immelt, NY fed neocon BOD member, jamie dimon whose lackey billy daley is now Obama's Chief of Staff is one as well, to steer US economic policy to the specific benefits of neocons, while banksters sit on TRILLIONS in cash, as our country burns.

ironic insult of all ironic insults he appointed immelt as his lead economic policy "Jobs Czar"

remember it was the NY fed under the guidance of timmy geithner who caused our current 2nd Great Depression that has the banksters lighting their cigars with the TRILLIONS they are investing in China and other countries.

almost 2 years ago Gretchen Morgenson of the NY Times detailed timmy geithner's ny fed incestuous cabal that caused our current 2nd Great Depression where ny fed board members steered Trillions in bailout dollars and other fed "special" "monetary easing" programs to their corporations. immelt was a key player.

4/26/09 NY Times article "Geithner, Member and Overseer of Finance Club" By JO BECKER and GRETCHEN MORGENSON and the accompanying graphic "Mr. Geithner’s World." research how they control the fed.

http://www.nytimes.com/2009/04/27/business/27geithner.html?_r=1

that article is almost two years old and NOTHING has changed.

[REDSTATEREFUGEE]

08:07 PM on 04/01/2011

X 96 , Hamster......Your post was informative and, yet, disturbing. You reminded me once again of the most significant reason that I lost faith in Obama, viewing him now as, at best, a centrist, not the progressive I thought in 2008.

[RitaS]

11:35 AM on 03/27/2011

Gee, can I get the same tax consideration?? Oh, wait, I'm just a lowly human being, not an omni-important corporation... They need ME to pay MY TAXES so they can get they tax free profits + additional rebate

[sticky29]

09:47 AM on 03/27/2011

Remember this on election day 2012. This pres offered us change and he screwed us all. All of us. Show him in the ballot box we do want change to someone else!!!!!

[Ed Buddy]

10:40 AM on 03/27/2011

Now you are just being silly. Liberals will open their checkbooks
for the $1,000,000,000 campaign goal and vote for the Big O no matter what he does. Correct liberals?

[sticky29]

11:42 AM on 03/27/2011

Sadly you are correct....the MSM will not even report on this. I am sure there is already a memo from GE to NBC...which is owned by GE...to bury this story to not make O look bad. But, if the repubs did this..it would be the 1st story on the Today show. And the libs scream about FOX news...what hypocrisy!!!!.