G.E. reply to charges that they paid no inc0me tax for 2010.
G.E. officials "say that these measures are necessary for G.E. to compete against global rivals," the Times writes. And company spokesman Anne Eisele says that "G.E. is committed to acting with integrity in relation to our tax obligations. ... At the same time, we have a responsibility to our shareholders to legally minimize our costs. Any clear minded taxpayer would pay tax to the one with lowest tax rate and that would include myself. When a corporation is taxed the tax is paid by all of us. Corporate taxes are paid twice. First 35% on corporate earnings then tax on the dividend received by shareholders. This is a good reason for GE to move operations to countries where taxes are more reasonable.
Removal of corporate income tax would surely lower prices and bring a large increase in exports due to the lowered prices.
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