The Drudge Report is linking to a neat Weekly Standard item about GE's zero-liability 2010 tax return being 57,000 pages long. There's a reference to "Ken Kies, a tax lawyer who represents GE." That's the same Ken Kies who was "Chief of Staff of the Congressional Joint Committee on Taxation from January 1995 until January 1998" and who "From 1982 until 1987...served as Chief Republican Tax Counsel to the Ways and Means Committee of the United States House of Representatives." The revolving door turns again. The Weekly Standard also doesn't mention that GE CEO Jeffrey Immelt is chairman of President Obama's Presidential Council on Jobs and Competitiveness. Here's an idea to boost American competitiveness: simplify the tax code so companies don't feel the need to hire former congressional staffers to help with their 57,000-page tax return.
GE's Tax Return
https://www.futureofcapitalism.com/2011/11/ge-tax-return
by Editor | Related Topics: General Electric, President Obama receive the latest by email: subscribe to the free futureofcapitalism.com mailing list