April 24, 2012


GE owns "liberal" news network MSNBC.

What do you call it when a major US corporation lobbies and receives its own, special tax law that is just for them, and then pays negative tax rates for years on end, netting billions of dollars in pure profit? We call it the GE Tax Hole.

GE has paid a cumulative tax rate of negative 18% over the last 5 years - WTF?

ENOUGH IS ENOUGH. Join our Tax Day letter to Congress: let's close the GE Tax Hole NOW!

How does GE pull off this massive scam? By having their army of tax lobbyists craft, write and pass a tax law just for them: it's called Active Financing, but a better name is Active Tax-Dodging. Active Financing is an uber-complex scheme, designed to use loopholes in foreign leasing law to prevent GE's US profits from ever being taxed.

How much of a scam is the GE Tax Hole? Even GE's own tax lawyers joke publicly about how much of a scam it is: their top Tax attorney, John Samuels, publicly joked at a conference that they created "a heads-I-win, tails-I-break even situation."

GE ain't just hoping the American people don't notice - they are literally and openly laughing at us.

Let's make this a Tax Day that GE doesn't ever forget - join our joint letter to Congress NOW.