Tuesday, March 12, 2013
How GE Cheats Billions on Their Taxes. (VIDEO)
"General Electric again finds itself the focus of a politically-charged battle over corporate taxes.
A new analysis of the mega-corporation's tax filings shows that 2.3 percent of GE's pre-tax profits have gone to the federal government since 2002. That bears repeating: GE has paid an average tax rate of just 2.3 percent over the past decade, according to an analysis by the non-profit advocacy group Citizens for Tax Justice."*
General Electric was found to have been parking billions in profits in tax havens, avoiding paying their U.S. taxes, despite the country having a very low corporate tax rate. Is this practice un-American? Ana Kasparian, John Iadarola, and Desi Doyen (Green News Report) discuss.
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