03.29.11

GE & Jeffrey — the Tax Cheat Boogie

Posted in Permanent Fail, Rock 'n' Roll at 8:15 am by George Smith

Here’s the lead-in from a columnist at the Philly Inky, by way of Frank at Pine View Farm:

Even the most specious arguments are granted legitimacy simply for having been made. Every opinion, however uninformed, is seen as inherently valuable. No argument is too preposterous or dishonest to share …

It’s how so-called conservatives can insist that the Wall Street bankers who crashed the economy should keep their astronomical bonuses, but unionized public employees should give up their hard-won pensions. It’s how President Obama can tap General Electric CEO Jeffrey Immelt to help “reform” the corporate tax structure, even as the New York Times reveals that GE – with worldwide profits of $14.2 billion last year – paid zero U.S. taxes.

Abject illogic is a good way to describe the legal tax cheating practiced by GE and the president’s appointing of Immelt as an economic advisor.

Here’s a song for it:

GE and Jeff (Taxavoidination)

It was inspired by the New York Times feature article on the matter. And the ubiquitous GE ad set to Alan Jackson’s “Good Time” — the one here with the fake employees doing the country line boot-scooting dance.

GE and Jeffrey — with a borrowed Alan Jackson — here.

Jeff Immelt — he understands what it takes for America to compete in the global economy. And I am so proud and pleased to chair this panel, my council on jobs and competitiveness, because we think GE has something to teach businesses all across America.” — the President

One now assumes that such advice on competition means giving more of a green light to looting and offshoring labor.

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