My daughter goes to second grade and her school teacher paid more in U.S. taxes in 2010 than General Electric did.
Anybody else here think that is WRONG?
(Please stop bitching about unions, paramount.)[/quote]
Yup. Chances are also pretty good that your daughter’s 2nd grade teacher also doesn’t have scads of tax attorneys, accountants and others specifically dedicated to minimizing her tax exposure, which leads to the inevitable question: Isn’t this really all about tax reform?
I doubt very much that what GE is doing is illegal. I’d be willing to bet that its quite legal. I’d go so far to say that GE, and IBM, and other large-market corporations, spend significant amounts of time and money to minimize their taxable exposure and consequences. Hell, its a safe bet that even good, old, corporate good citizen Apple does, too.
Our tax system is a friggin’ joke. I cannot begin to imagine how much money has been lost due to loopholes, ineptitude and just general stupidity. I’d say its time for a change.
