I read a March 25 New York Times story, “GE’s strategies let it avoid taxes altogether,” reporting that GE not only didn’t pay any taxes, it got a tax benefit of $3.2 billion. Business advocates often complain the U.S. has the highest corporate tax rates in the world. However, clearly, many corporations like GE aren’t paying their fair share. When Congress takes a crack at tax reform, corporate taxes would seem to be a good place to start. Most likely, if companies like GE that are chummy with the politicians had their loopholes closed, the government could bring in more revenue in corporate taxes, even while lowering the tax rates.
The question is, is there anyone in Washington, D.C., with enough integrity to do the right thing?
Lance B. Sjogren
Vancouver