If you are still finalizing your tax return, here is a news item from the New York Times to ponder: General Electric “reported worldwide profits of $14.2 billion, and said $5.1 billion of the total came from its operations in the United States. Its American tax bill? None. In fact, GE claimed a tax benefit of $3.2 billion.” It doesn’t pay any U.S. taxes, the paper reported, because of “fierce lobbying for tax breaks and innovative accounting that enables it to concentrate its profits offshore.”
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