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Originally Posted by Slick Fork
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Im gonna assume that is for GE as a whole and not just the US operations and US corporate income tax. What large multinational corps often do is off load expenses to the countries with high tax rates for deductions and keep the revenues overseas where taxes are often lower.
As far as it not being true....IDK, some pretty reputable sources say otherwise.
http://money.msn.com/top-stocks/post...3-2949588e90f6
http://www.huffingtonpost.com/2013/0...n_2852094.html
http://www.nytimes.com/2011/03/25/bu...pagewanted=all
After researching it seems it hasn't been proven but GE did not release anything proving otherwise which tells me it's either true or they paid very little anyway.
An interesting fact in the first article... "Now, the Times reports, only 6.6% of Uncle Sam's tax revenue comes from corporations (down from 30% in the 1950s)."