“GE isn’t breaking any laws, and they are saving lots of money in taxes.”
To be honest, GE finance businesses lost a ton of money in 2008-2009 due to the recession. They paid no US taxes in 2010 because they were able to deduct those losses from their income which is standard practice for any corp.
The minute I see or hear someone start with, "To be Honest" or "In all honesty", or "Truthfully" I know that either a full lie or some twist of the truth is coming.
In this case, truthfully, and in all honesty, and to be completely honest, you are merely quoting the results of GE Financial Services and not the Corporation.
In 2010 GE made over $5 Billion in profit and paid ZERO US income tax dollars.
There are numerous tax shelters and dodges, and GE uses everyone of them.
I against any corporate income tax, so I don't blame GE, but I do blame you for your "honesty".
Uh, no. GE bribed Bush and later Rangel and friends for an exemption from taxes on income from foreign leases.