GE zero U.S. income tax

[Valerius]

"GE: 7,000 tax returns, $0 U.S. tax bill"
By Annalyn Censky, staff reporterApril 16, 2010: 11:52 AM ET

"That left GE (GE, Fortune 500) with no U.S. profit left for Uncle Sam to tax. Corporations typically face a 35% federal income tax on their earnings. Thanks to its deductions and adjustments, GE reported an actual U.S. federal income tax rate of negative 10.5%. It got to add a "tax benefit" of $1.1 billion back into its reported earnings."

© 2010 Cable News Network. A Time Warner Company. All Rights Reserved

http://money.cnn.com/2010/04/16/news/companies/ge_7000_tax_returns/index.htm

[TahoeBlue]

Wealth Disparities in U.S. Approaching 1920's Levels 

Since financial wealth is what counts as far as the control of income-producing assets, we can say that  just 10% of the people OWN the United States of America.

I'd say much less then that since 9 percent are OWNED by 1 Percent and 9/10th's of the 1 percent are OWNED by the 1/10th of one percent. A few thousand people OWN and control the country.

They have absolutely no incentive to produce "more" of anything. They are only interested in things that they don't own, like Iran or Russia.

"Since the 1960s the percentage of tax revenue at the federal level that comes from corporations has declined from around 30 percent to around 8 percent.

[Kilika]

"GE: 7,000 tax returns, $0 U.S. tax bill"

That should be criminal. In fact, it most likely is in order for them to be able to file that way.

[Dig]

I guess Glenn Beck wants GE to go fight in Iraq (not by getting $Billions in no bid contracts, but actually do the grunt work).

[H0llyw00d]

Did Beckster even file this year?...hehehehee

[larsonstdoc]

  I am surprised that they aren't getting a refund.  But it is still early.

[No2NWO]

The Real GE Scandal

It’s not that the company won’t pay any 2010 U.S. income taxes. It’s that we don’t know how to tax global business.

Story: http://www.newsweek.com/2011/04/03/the-real-ge-scandal.html