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Editor: Paul L. Caron
Pepperdine University School of Law

Tuesday, March 29, 2011

Jon Stewart on G.E.'s 0% Tax Rate

Following up on Friday's post, NY Times: G.E.: Tax Imagination at Work:

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GE wants a lower corporate rate?

Okay, I'd support a low, low 5% corporate tax rate.

BUT... it's a flat rate. No credits. No deductions. No write-offs. No loopholes. No GOGS. A flat 5% of gross revenue. GE sells $100 billion here in the US, IRS gets $5 billion. Simple.

I see no reason why our infrastructure, military, and society should be supported solely by taxes on the middle class, and the ones who are best able to pay...

Pay. Nothing. At. All.

Besides, think of all the money GE would save on accountants, lawyers, lobbyists, and Senators.

Posted by: Michael Long | Mar 31, 2011 12:44:42 AM