New York Times: G.E.’s Strategies Let It Avoid Taxes Altogether General Electric is the largest company in the United States. It paid $0 in taxes last year. How? By hiding its money in offshore banks and getting Congress to give them special, enormous tax breaks. They have the right to do that, and Congress has the right to strip them of their federal contracts. But they won't, because they don't have the balls. The only person to do anything about this was Ronald Reagan, who overhauled the tax system after he learned about G.E.'s behavior. By the late nineties, G.E. got their loopholes back. This is straight-up corporate welfare, and it's costing all of us billions of dollars.
Published by Waldo Jaquith
Waldo Jaquith (JAKE-with) is an open government technologist who lives near Charlottesville, VA, USA. more »
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