JOHN MCCORMACK, The Weekly Standard
Submitted by: KZ
GE Pays Zero Taxes on $14 Billion in Profits
[Weekly Standard] Nine billion dollars of GE's profits came overseas, outside the jurisdiction of U.S. tax law. GE wasn't taxed on $5 billion in U.S. profits because it utilized numerous deductions and tax credits, including tax breaks for investments in low-income housing, green energy, research and development, as well as depreciation of property.
GE was able to skirt paying taxes by taking advantage of massive loopholes in corporate tax law. In other words, they didn't break the law becuase the law is set up to allow them to break it.