Friday, March 25, 2011
"Imagination At Work," Or Figuring Out How to Pay No Taxes On Obscene Profits
General Electric, the nation's largest corporation and maker of Japan's failed nuclear reactors, last year had worldwide profits of $14.2 billion. They paid no taxes - and claimed a $3.2 billion tax benefit, thanks to fierce lobbying and what the Times calls "innovative accounting." Oh yeah, and Obama just named its CEO his liaison with the business community. An infuriating look at what's wrong with multinational capitalism, and this weekend's US Uncut actions nationwide to protest it.