General Electric, the nation’s largest corporation, had a very good year in 2010.
The company reported worldwide profits of $14.2 billion, and said $5.1 billion of the total came from its operations in the United States.
Its American tax bill? None. In fact, G.E. claimed a tax benefit of $3.2 billion. Read the details at NYTimes.com
(Liv’s Opinion: Corporatism is the business arm of the Government, not to be confused with Capitalism)