Tuesday, April 17, 2012

GE, Corporate Freeloader

GE has been running lots of commercials showing what a great company they are.  I'm not impressed.  Citizens for Tax Justice released a report, (here) showing that GE paid an effective tax rate of 2.3% over ten years.  Think about that for a minute.  Everyone in this country is paying a higher tax rate than GE.  GE brags in their TV commercial about bringing employees to Boeing Field so they can see the jet engines that they build propel the new Boeing Dreamliner into the skies.
GE didn't contribute to the cost of the roads, those employees traveled on.   GE didn't contribute to the FAA which makes sure those giant airliners can safely traverse the skies and land.  GE is a freeloader, company and no amount of commercials is ever going to convince me otherwise.  If GE wants good public relations, they need to pay taxes like the rest of Americans.

Over the last 5 years GE has paid a negative rate of 18%.  That's right we pay them to do business in our country.  Until GE starts paying their fair share we can boycott their products and send letters to congress.  
The Other 98%:
 How much of a scam is the GE Tax Hole? Even GE's own tax lawyers joke publicly about how much of a scam it is: their top Tax attorney, John Samuels, publicly joked at a conference that they created "a heads-I-win, tails-I-break even situation."

 Sign the petition, Eliminate GE's Tax Free Card
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