Friday, March 25, 2011

Obama's Best Biz Pal: Tax Avoider Extraordinaire!

Obama's BFF in business, at this time, is GE, which currently owns the Crony Capitalist award, having successfully pushed a 'green' agenda which just happens to favor GE's windmill biz as just one example, not to mention scoring a big bunch of TARP dollars for GECapital through a "loophole" which just magically appeared.

So how does GE repay the US?

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. --NYT quoted at AOSHQ

It is a fact that "corporations" do not pay taxes--their customers do.

Having said that, it does seem a bit........odd........that President PixieDust is consorting with such rapacious and eeeeeeeeeeeeeeeevil corporations, no?


Anonymous said...

Why in the hell did Jeffrey Robert Immelt travel with Obama to Brazil? Vacation my #$%^&*! How many presidents leave the country upon Launching a war?
..... No good for us can come from this....

Jack Welch's Ex-Wife said...

Famous quote from that stinking little Nazi Napolean Jack Welch: "We're GE, and you're not.".

Such an endearing little troll.

J. Strupp said...

Disgraceful...but not surprising of course.