GE Filed 57,000-Page Tax Return, Paid No Taxes

General Electric, one of the largest corporations in America, filed a whopping 57,000-page federal tax return earlier this year but didn't pay taxes on $14 billion in profits. The return, which was filed electronically, would have been 19 feet high if printed out and stacked.

The fact that GE paid no taxes in 2010 was widely reported earlier this year, but the size of its tax return first came to light when House budget committee chairman Paul Ryan (R, Wisc.) made the case for corporate tax reform at a recent townhall meeting. "GE was able to utilize all of these various loopholes, all of these various deductions--it's legal," Ryan said. Nine billion dollars of GE's profits came overseas, outside the jurisdiction of U.S. tax law. GE wasn't taxed on $5 billion in U.S. profits because it utilized numerous deductions and tax credits, including tax breaks for investments in low-income housing, green energy, research and development, as well as depreciation of property.

www.weeklystandard.com...

So why isn't there outrage on this? GE's ceo is Immelt and have gotten away with this and the fact that GE has done business with Iran in the past and yet they pay no taxeS?

Why because of the current administrations push for green jobs which agian GE has outstsourced plenty of them. Come on people where is the outrage?

Oh i get it one of the largest Obama doners get a free pass on this one.

reply to post by neo96


The sheer complexity of the IRS tax code is what allows crap like this, as evidenced by the complexity of the tax return. If we must have an IRS, then the code needs to be dropped down to a few, easy to understand pages, that describe a flat tax, with the only exemptions being for not-for-profit corporations, and the incredibly poor. Period...

See, that's what can happen when you keep all your receipts! Anyway, I'm sure they paid a lot of sales taxes and other kinds of fees. Nobody or nothing gets off free.

reply to post by neo96


Domo has already done this, here

reply to post by neo96

So why isn't there outrage on this?

Simple. GE is one of the 5 corporations that controls the mainstream media. Naturally, they won't air any stories about how they don't pay taxes, so the millions of people who watch MSM won't hear about it. I would be suprised to hear that any other media networks were reporting heavily on this, seeing as how they're all connected via the Council on Foreign Relations.

TV Holdings:
* NBC: Owns outright 13 stations and many affiliates, Market penetration: 28% of US households.
* NBC Network News: Owns The Today Show, Nightly News with Tom Brokaw, Meet the Press, Dateline.
* CNBC business network, MSNBC 24-hour cable and Internet news service (co-owned by both NBC and Microsoft); Court TV (co-owned with Time Warner), Bravo (50%), A&E (25%), History Channel (25%).
The MS in MSNBC stands for Microsoft, Bill Gate's Microsoft donated 2.4 million in 2000 to get George W Bush elected.
Other Holdings:
* GE Consumer Electronics and Household Products and components used in military electronics..
* GE Power Systems, which makes turbines for nuclear reactors, wind turbines, "clean" coal technology.
* GE Plastics: produces military hardware for fighter jets, ships and nuclear power equipment.
* GE Transportation Systems: manufactures engines and diesel and electric locomotives.

Source

existing thread : here