Friday, March 25, 2011

General Electric Profits = $14.2 billion. GE's Tax Bill = $0

Actually, it's worse than that. They got a $3.2 billion tax benefit.

But don't get the wrong idea. I'm sure this has nothing to do with the fact that GE's chief executive is the Chairman of the President's Council on Jobs and Competitiveness, or that he's the President's designated liaison to the business community, or that GE stands to massively cash in on the President's programs such as alternative energy (GE Energy and GE Appliances & Lighting) and Obamacare (GE Healthcare). Likewise, it has nothing to do with GE-owned media outlets such as MSNBC, which tirelessly push the President's agenda. I mean, just because there is an unholy alliance between this administration and General Electric, it doesn't necessarily follow that GE is rewarded for it.

Nope. I'm convinced it's all due to clean living and good old American inventiveness, and not Chicago-style graft and corruption. Because that would be wrong. Very wrong. more thing. The government held hearings about Toyota's mythological acceleration problems. Why is no one asking them about the reactors they built in Japan?  Anyone?

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