GE pays no corporate income taxes on l4 billion dollars of profits. This the second year in a row that GE and its battery of attorneys and tax accountants have used loopholes, and perhaps rabbit holes, to escape paying its "fair share." At our 35 per cent rate, GE owes us nearly five billion.
Yes, our tax structure needs to be overhauled. This nation has the highest corporate tax rate of any nation, a discouragement to many companies that are honest but cannot compete and expand with our high taxes. I've said many times that it would be better to collect l5 per cent of something than 40 per cent of nothing/
By the way, how much has GE benefited Barack Obama and his campaign for a second term?
Yes, our tax structure needs to be overhauled. This nation has the highest corporate tax rate of any nation, a discouragement to many companies that are honest but cannot compete and expand with our high taxes. I've said many times that it would be better to collect l5 per cent of something than 40 per cent of nothing/
By the way, how much has GE benefited Barack Obama and his campaign for a second term?
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