Obama Buddy GE Paid Just 2.3 Percent in Federal Taxes Over Last 10 Years on More Than $81 Billion in Profits
GE Paid Just 2.3 Percent in Federal Taxes Over Last 10 Years on Mor...
Thanks to tax loopholes and deductions, General Electric (GE) was able to pay a mere 2.3 percent in federal taxes on over $81 billion in profits over the last 10 years, according to analysis of the corporation’s tax filings conducted by Citizens for Tax Justice.
The Citizens for Tax Justice, a non-partisan watchdog group, said that GE’s latest filings with the Securities and Exchange Commission (SEC) reveal that they were far under the supposed 35 percent corporate tax rate.
GE was able to rob taxpayers blind during years when their profits declined, all while paying taxes at a rate far below what most hardworking American individuals are saddled with.
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