Thom Hartmann: In America Working People pay GE's Income Tax

[thomhartmann]

General Electric - the corporation that's taken home $81.2 billion over the last decade - well, it paid on average a mind-bogglingly low tax rate of just 2.3%. 2.3% - that's it. An American teacher pays a 37% tax rate on $50,000 - GE pays a 2.3% tax rate on $81.2 billion. Does something seem off to you? Not only that - for four years during the last decade - GE actually had a negative tax rate - with our government writing them checks for billions of dollars. Unfortunately - when corporations like GE don’t pay their fair share in taxes - then working people have to pick up the slack...because ever since Reagan, here in America we tax working people to pay for tax cuts for the rich.

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