You Pay More Taxes Than General Electric
- 5 years ago
General Electric, America's largest corporation, earned $14.2 billion in profits last year. Its chief executive made $15.2 million. And GE paid no federal taxes. To the contrary, the company got a $3.2 billion tax credit. GE's slogan, "Imagination at Work," suggests its creative approach to taxes.
Americans can accept the notion that U.S. firms should not have to pay taxes that are so high they cannot compete with foreign companies. There is also logic to the idea that if their taxes are lower, they will have more money to create jobs in America. In that way, they can attack the largest problem facing the economy: an official jobless rate of nearly 10 percent and a real rate closer to 16 percent.
Americans can accept the notion that U.S. firms should not have to pay taxes that are so high they cannot compete with foreign companies. There is also logic to the idea that if their taxes are lower, they will have more money to create jobs in America. In that way, they can attack the largest problem facing the economy: an official jobless rate of nearly 10 percent and a real rate closer to 16 percent.