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Title: Obama's tax cheating Jobs Czar Jefferey Immelt & Govt Electric to return $3.2 billion to US Treasury
Source:
Yahoo Finace
URL Source: http://finance.yahoo.com/news/GE-to ... S-apf-1098787320.html?x=0&.v=2
Published: Apr 13, 2011
Author: ap
Post Date: 2011-04-13 10:16:36 by Happy Quanzaa
Keywords: Obama-doma-ding-dong, Obamanomics in Action
Views: 1343
Comments: 1
Facing criticism over the amount of taxes it pays, General Electric announced it will repay its entire $3.2 billion tax refund to the US Treasury on April 18. GE uses a series of foreign tax havens that the company says are legal and that led to an enormous refund for the 2010 tax year. The company earned $11 billion in 2010 on revenue of $150 billion. The company, based in Fairfield, Conn., plans to phase out tax havens over 5 years and said it will create one job in the US for each new job it creates overseas.
GE to return $3.2 billion to US Treasury
GE, facing criticism over how much tax it pays, says it will donate its entire refund
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#1. To: Happy Quanzaa (#0)
And those jobs will be building robotic machinery to replace the workers.
it will create one job in the US for each new job it creates overseas.
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