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General Electric Paid No Federal Taxes in 2010
THE WHITE HOUSE, March 25, 2011
By JAKE TAPPER via ABC WORLD NEWS
2010 was the second year in a row that GE recorded billions in profits and paid no taxes.
When President Obama announced his decision to appoint Immelt to the unpaid advisory role on job creation in January, some critics wondered whether the move was appropriate. Under his leadership, GE laid off 21,000 American workers and closed 20 factories between 2007 and 2009. More than half of GE's workforce is now outside the United States.
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