Holding billions of dollars of America's wealth, paying no taxes.

How'd you like to earn billions of dollars? How would you like to have billions of dollars in holdings - cash on hand to handle emergencies in your family? And how would you like to pay absolutely no taxes on those billions? That's what our corporations, aka "people," are doing in this nation and it means that YOUR taxes have to be higher to pay the nation's bills.

We need tax reform and we have needed it for many years. It's time for the system to be equitable.

GE wants more...

From Susie Madrak and Crooks and Liars.  Read more by clicking HERE...

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.

While you are getting hosed...

Despite reporting over $5 billion in profits from its domestic operations, the American multinational conglomerate General Electric -- headquartered in Fairfield, CT -- paid nothing in income taxes . "In fact, G.E. claimed a tax benefit of $3.2 billion."

Source - The Progress Report 3/25/2011