GE Gifts $3.2 Billion Tax Break To Public! Or Not!
The AP fell for a hoax press release from G.E. - they of $11 billion in profits, zero in taxes fame - wherein the electronics giant vowed to return their wad and adopt new socially responsible policies for "the greater good of the nation." Those include phasing out tax havens, creating one U.S. job for every job abroad, and selling a bridge in Brooklyn, cheap.
"Americans have made it clear that they deplore laws that enable tax avoidance. We are proud to be giving something back to America, and we are proud to set an example for all industry to follow.” - CEO Jeffrey Immelt.