General Electric doesn’t pay taxes. If you were steamed by my posting about the NFL being classified as a non-profit and not paying their taxes, this should rile you up, as well.
The corporate giant GE has been taking advantage of “active financing,” a big tax loophole that lets them put off paying their taxes until…forever. In fact, they haven’t paid any federal taxes for the past four years. Because that loophole expired recently, you’d think they’d finally pay up and keep paying their fair share. Not if Senate Minority Leader Mitch MConnell has his way. He wants the active financing loophole renewed, and he doesn’t think that any of the so-far lost taxes should be recovered.
I’ve signed the petition at Credo’s website, asking that the “active financing” loophole be closed. If the situation bothers you, go there and sign the petition yourself.