Tell GE: Pay your taxes
  • Petitioned Chairman and CEO of General Electric

This petition was delivered to:

Jeffrey R. Immelt
Chairman and CEO of General Electric

Tell GE: Pay your taxes

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      <span>CREDO Action</span>

 

If you want to know why we're facing vicious budget cuts across the country, look no further than General Electric, America's largest corporation.

According to a shocking exposé just published by the the New York Times, GE made over $26 billion in profit in the United States during the last five years, but paid nothing in federal income tax. Zero. In fact, it claimed a $4.1 billion net tax benefit from the IRS during that time.

Meanwhile, lack of revenue is causing brutal cutbacks of vital services at all levels of government.

We shouldn't be firing teachers and taking health care away from children because GE is shirking on its responsibility to pay income tax.

GE is the poster child for what's wrong with our corporate tax system. GE's tax schemes alone have cost American taxpayers billions of dollars.

In fact, it was GE's tax avoidance in the 1980's that prompted Ronald Reagan of all people to push to eliminate loopholes in the corporate tax code.

Of course the company line is that they're just following the law. But we cannot treat them as mere bystanders.

As the Times article reported, General Electric has 975 employees in its tax department who are charged with spending half their time complying with the law and half their time "looking to exploit opportunities to reduce tax."

And they are not only eager to exploit the loopholes that exist in the tax law (loopholes that might never have been contemplated by the lawmakers who created them), they also spend tens of millions of dollars a year to lobby Congress for more corporate welfare and more tax exemptions.

The end result is a corporate giant like GE extracting obscene profits from our country, while sticking the rest of us with the bill. Tell GE: Pay your taxes.

 

To:
Chairman and CEO of General Electric, Jeffrey R. Immelt
As an American taxpayer, I am outraged that General Electric would shirk its responsibility to pay income tax on the massive profits it makes in the United States. I pay my taxes and so should you.

Sincerely,
[Your name]

Recent signatures

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    1. Reached 5 signatures

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    Reasons for signing

    • Maneesh Pangasa YUMA, AZ
      • over 3 years ago

      Dear Mr. Immelt,

      As an American taxpayer, I am outraged that General Electric would shirk its responsibility to pay income tax on the massive profits it makes in the United States. I pay my taxes and so should you and your company.

      We are facing vicious budget cuts nationwide because of corporations like General Electric not paying their taxes.

      According to a shocking exposé just published by the the New York Times, GE made over $26 billion in profit in the United States during the last five years, but paid nothing in federal income tax. Zero. In fact, it claimed a $4.1 billion net tax benefit from the IRS during that time.

      Meanwhile, lack of revenue is causing brutal cutbacks of vital services at all levels of government.

      We shouldn't be firing teachers and taking health care away from children because GE is shirking on its responsibility to pay income tax.

      GE is the poster child for what's wrong with our corporate tax system. GE's tax schemes alone have cost American taxpayers billions of dollars.

      In fact, it was GE's tax avoidance in the 1980's that prompted Ronald Reagan of all people to push to eliminate loopholes in the corporate tax code. Of course your company's line is your following the law but we refuse to treat GE as mere bystanders.

      As the Times article reported, General Electric has 975 employees in its tax department who are charged with spending half their time complying with the law and half their time "looking to exploit opportunities to reduce tax."

      And they are not only eager to exploit the loopholes that exist in the tax law (loopholes that might never have been contemplated by the lawmakers who created them), they also spend tens of millions of dollars a year to lobby Congress for more corporate welfare and more tax exemptions.

      The end result is a corporate giant like GE extracting obscene profits from our country, while sticking the rest of us with the bill.

      In fact corporate welfare should be ended in this country and subsidies for Big Oil companies to the tune of $4 billion dollars a year when on their own they made over $18 billion last year and are making even more due to high gas prices. In fact rules in Wall Street reform limiting market speculation should take effect as soon as possible and a market speculation tax should be charged for all speculation on commodities. It makes no sense to allow trading in oil unless your buying oil because the seller will always increase the price for trading in oil and raise the price of buying gasoline causing pain at the pump for consumers.

      GE pay your taxes.

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    • Melissa Padilla NORTH HOLLYWOOD, CA
      • over 3 years ago

      Our society has no values...we only value! The rich get richer and the rest of us are left to struggle just to survive with the basics!!! Big corporations should pay more and should be held accountable!

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    • Saran Singh ANTELOPE, CA
      • over 3 years ago

      Its not fair that I barely got money back from taxes while big corporate monsters get away with not paying for anything. Everyone pays taxes and corporations are no exception.

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    • Ashley Stearns CAMBRIDGE, MA
      • over 3 years ago

      It might be old-fashioned, but I'm urging others to boycott, too.

      REPORT THIS COMMENT:
    • Kyle Hackmeister WILLIAMSPORT, PA
      • over 3 years ago

      Weatherford International employee

      REPORT THIS COMMENT:

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