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GE Not Alone in Cutting Its Tax Liability, Legally |
March 31, 2011
Former Sen. Russ Feingold's group, Progressives United, backed by MoveOn.org, is demanding that General Electric Co. head Jeffrey Immelt step down as chairman of President Obama's Council on Jobs and Competitiveness after the New York Times described how GE, the nation's biggest company, enjoyed worldwide profits of $14.2 billion in 2010 (including $5.1 billion from U.S. operations) but paid no U.S. corporate income tax.
http://feeds.abcnews.com/click.phdo?i=97377d383d01641d4c6b7ce48729b115
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