Wednesday, April 6, 2011

"No Taxes" GE Gets $36.6 million ERRP Check from Uncle Sam

For the second year in a row General Electric reported billions in profits, yet paid no federal taxes.  It turns out Uncle Sam did more than not collect taxes from GE.  It sent $36.6 million, i.e. someone else's taxes, to GE under the Early Retiree Reinsurance Program (ERRP). 

"Not mean, not greedy" Immelt is only doing what's allowed under the law.  Jeff, actions speak louder than words.