According to The New York Times, last year General Electric (GE) made over $14.2 billion in profit, but paid NO federal tax. None.Fed up? So am I. We've not only have to take the House back in 2012, not only from the Repubs but from the conservative Dems too.In fact, thanks to the millions GE spent lobbying Congress, we American taxpayers actually owed GE $3.2 billion in tax credits.
Now GE is slashing health benefits and retirement benefits for new employees among non-union workers and is expected to push unions to accept similar cutbacks, while its CEO, Jeff Immelt, gets a 100% pay raise. . . .
And if the American people got back just the $3.2 billion GE took in tax credits, it would pay for the programs that House Republicans want to gut, like community health centers providing care to over three million low-income people and food and health care assistance to pregnant women, new moms, and children. We'd even have enough left to save the jobs of over 21,000 teachers across the country.
The American deficit is being weighed down by hundreds of billions spent on bailing out major corporations. The tea party's plan is to make working families pay through devastating cuts, instead of making corporations with billions in profits pay their fair share.
Ralph
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