WASHINGTON -- Just in case you missed it, The New York Times recently ran a blockbuster story reporting that General Electric -- with $14.2 billion in worldwide operating profits in 2010 -- owed no U.S. corporate taxes for the year. Gulp. The story must have given heartburn to some in the White House, because Barack Obama has named GE CEO Jeffrey Immelt to head the President's Council on Jobs and Competitiveness. Well, GE seems plenty competitive in tax avoidance. The question is: Can we do anything about it?The answer is "yes," but the right response is counterintuitive....
Source: http://www.realclearpolitics.com/articles/2011/04/04/the_real_ge_scandal_109435.html
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