G.E Turns a 14.2 Billion Dollar Profit... Claims a 3.2 Billion Dollar Tax Credit!
by: Les Carpenter Rational Nation USA Birthplace of Independent Conservatism I am all for business organizations turning a healthy profit. We should all be in favor of this because profitable businesses generally create jobs that employ people, thus enriching lives. A case can be made that profitable organizations ought to pay a "fair" share of their profits (gross revenue less legitimate business and operating expenses) to help support the infrastructure and financial stability of the country they call home. It is just a tad disturbing {even for an avowed capitalist like myself} when I read about the phenomenal profits of G.E., 14.2 billion dollars, and at the same time find out they claimed a 3.2 billion dollar tax credit! There is something very wrong with this picture. It reeks of special privilege secured by very aggressive lobbying tactics, and a tax code that is antiquated, burdensome, and is rife with loopholes and unjustified tax breaks for corporations and...