How is it possible for a giant company like GE to pay NO Income Tax? Their CEO is on Fed Jobs Council> How?

How can a giant company, earning millions and millions of dollars, pay NO income tax? Their CEO, Imhoff is on President Obama's Jobs Council and GE gave millions to Democrats in the last election but how can such a big company pay no Income Tax? GE is the parent company of NBC News

Asked By: Banker - 4/1/2011
Best Answer - Chosen by Asker
The financial arm of GE is a large percentage of the company and the losses they took from the financial meltdown represent the largest amount of the write-off. The other part involves the generous tax credits the Obama administration has given GE for their part in the "green energy" initiatives involving wind and... More
Answered By: prusa1237 - 4/2/2011
Additional Answers (7)
its easy when you pay obama big bucks.
Answered By: Casey Forrest - 4/1/2011
jeff immelt ought to recall 18,000 laid off old lightbulb assemblers,and yank the stupid sqwiggly wiggly mercury carrying 'green' light bulbs
Answered By: tweetypiie - 4/1/2011
Sounds like you just answered your own question. Can you imagine the uproar if it was a Republican in office? I have not heard a whisper from any liberal news outlet.
Answered By: smsmith500 - 4/1/2011
Does the expression 'political payback' mean anything to you? That's the way its done in the nations capital by the representatives of the 'people'. The same thing happens with unions but even more so. One of the political parties is most definitely in bed with the unions and unions determine how much money companies... More
Answered By: Mike S - 4/1/2011
Almost all Companies don't pay a "income tax" as they don't have gross income. All their Net income is spent paying bills, other taxes, payroll, interest, research, investments, stockholders and such. Then end goal each year for a company is to have zero gross income (maybe negative) that way they don't have to pay... More
Answered By: Jacara - 4/1/2011
Jakara gave a great answer, but did not mention the ties of GE to Obama and Obama to GE. They are both in cahoots with each other and the media has pretty much decided to take a vacation on that story. Most companies pay little to no taxes, yet survive without the cozy relationship of GE to the Obama Administration... More
Answered By: Drayak - 4/2/2011
Ask BO. Aren't we glad we didn't vote for him. Peace
Answered By: PARVFAN - 4/2/2011
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