Corporate Taxes and General Electric

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Now, we see this story about GE, yes, that General Electric, America’s largest corporation.
What do you mean, GE?
Well, GE is tight in  bed with Obama.
Why would GE do that?
GE, like many corporations is completely amoral.  GE is essentially a mercenary and sees an economic advantage.  GE supports Cap and Trade, i.e. higher taxes for you and me.  They manufacture wind turbines.  And since the Obama administration is strongly against fossil fuels and in favor of “green” energy, GE wants to capitalize on that situation.  And Jeffrey Immelt, GE Chairman has recently been appointed to the President’s new panel on job creation.  Maybe he means job creation for GE employees.
Back to the NY Times  story::  even though GE earned $14.2 billion in 2010 ($5.1 billion of which came from the US) in profits GE paid No, Zero, Zip , Nada taxes.  In fact, GE “received” $3.2 billion in tax credits
So, if GE gets its way be prepared for higher taxes – for you, but not for GE.

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