Monday, March 28, 2011
From the WHAT THE FUCK????!!! Department.
Courtesy Of Think Progess dot Org.
After Paying Zero Income Taxes, GE Plans To Ask Its Union Workers To Make Wage And Benefits Concessions Our guest blogger is Mike Elk, a freelance labor journalist and third generation union organizer based in Washington, D.C. You can follow him for more updates on Wisconsin on twitter at @MikeElk. Last week, the New York Times reported that, despite making $14.2 billion in profits, General Electric, the largest corporation in the United States, paid zero U.S. taxes in 2010 and actually received tax credits of $3.2 billion dollars. The article noted that GE’s tax avoidance team is comprised of “former officials not just from the Treasury, but also from the I.R.S. and virtually all the tax-writing committees in Congress.” After not paying any taxes and making huge profits, ThinkProgress has learned that General Electric is expected to ask its nearly 15,000 unionized employees in the United States to make major concessions.....and:
Bank Of America Paid Nothing In Federal Income Taxes Last Year And Got Almost $1 Billion From Taxpayers By Zaid Jilani at 12:05 pm All around the country, right-wing legislators are asking Main Street Americans to pay for budget deficits resulting mainly from a recession caused by Wall Street by attacking collective bargaining, and cutting necessary services and investments like college tuition aid and health care for the poor. Yet at the same time, some of the country’s biggest corporations are getting away without being asked to pay anything at all. In 2009, mega corporations like Boeing and General Electric managed to avoid paying a penny in federal taxes — while also netting enormous benefits in tax benefits and subsidies....nothing to see here, move along.