General Electric 2010: No Taxes, Claimed 3.2B Credit

03 Economy, 07 Other Atrocities, 11 Society, Commerce, Commercial Intelligence, Corruption, Cultural Intelligence, Government
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But Nobody Pays That

G.E.’s Strategies Let It Avoid Taxes Altogether

By DAVID KOCIENIEWSKI

The New York Times, March 24, 2011

General Electric, the nation’s largest corporation, had a very good year
in 2010.

The company reported worldwide profits of $14.2 billion, and said $5.1
billion of the total came from its operations in the United States.

Its American tax bill? None. In fact, G.E. claimed a tax benefit of $3.2
billion.

Read full article….

Phi Beta Iota: This is an atrocity, a crime against humanity.  Legalized crime in the US has reached heights not seen in modern history. There is no social contract between the government and those puportedlyostensibly governed.  GRIFTOPIA meets Empire of Illusion.  The systemic corruption of America–the Paradigms of Failure–is daunting to those who strive to serve the public interest.  Integrity–one word–absent across the board.  Why?  Because they can get away with it.

See Also:

Why Isn’t Wall Street in Jail? + US Fraud RECAP