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Wait, GE made more than $5 BILLION dollars in the US, over $14 BILLION worldwide, and owed no taxes for 2010? What do you figure accounting that crooked costs? And then you figure GE got a $3.2 BILLION tax benefit. Holy crap!
It never fails, every single scumbag obama appoints to a position , czar or whatever, turns out to have some kind of shady or weird dealings. It's a big deal for about 15 minutes, then it goes away. I guess that proves it's ok to surround yourself with criminal scumbags when the media is in your pocket. The main stream media in this Country should hang their heads in shame. They have disgraced everything it is to be a news organization...
by Brian Montopoli - CBSNews
In January, President Obama named General Electric CEO Jeffrey Immelt to head the President's Council on Jobs and Competitiveness, an economic advisory board focused on job creation.
In his State of the Union address that same month, meanwhile, he called for the closure of corporate tax loopholes in conjunction with a lowering of the corporate tax rate, which stands at 35 percent.
"Over the years, a parade of lobbyists has rigged the tax code to benefit particular companies and industries," he said. "Those with accountants or lawyers to work the system can end up paying no taxes at all. But all the rest are hit with one of the highest corporate tax rates in the world. It makes no sense. It has to change."
Mr. Obama's choice of Immelt came under scrutiny Friday in the wake of a front-page story in the New York Times reporting that despite $14.2 billion in worldwide profits - including more than $5 billion from U.S. operations - GE did not owe taxes in 2010.
In fact, the story said, G.E. claimed a tax benefit of $3.2 billion.