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Protesters Play Tax Dodgerball, GE CEO Interrupted

Protesters Play Tax Dodgerball, GE CEO Interrupted

One day before General Electric’s annual shareholder’s meeting, CEO Jeff Immelt received a preview of what might come when a couple protesters interrupted his keynote speech at the SAE World Congress on Tuesday morning.

“Mr. Immelt, when are you going to pay the $26 billion in taxes,” asked McElroy at the beginning of his speech. “I pay my taxes year after year – why doesn’t GE?”

The Fortune 100 company utilizes tax loopholes and offshore accounts to avoid paying federal taxes. Parts of those loopholes and advantages were written into law at the behest of GE and like-minded companies by using lobbyists and campaign contributions. Over the last ten years GE paid only 2.3 percent to the United States Treasury. From 2008-2010 GE paid their top five executives nearly a quarter of a billion dollars, spent more than $84 million in lobbying expenditures, all while they paid nothing in federal taxes. Hence the reputation as a tax dodger.

Out in the hall another group of protesters played a game of “tax dodgerball.” The symbolism was lost on the security guards and a few of the observers.

More to come here in Detroit. Also look for more actions of these types with major companies holding their annual meetings in the coming months.

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9 comments

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1:48AM PDT on Apr 27, 2012

The whole Idea is 100% profit, which is entirely impossible.

And it's not just confined to America. Rover, a huge car company went under in the UK, and thousands lost their jobs.

Corporations MUST pay Tax. In England, In America, Everywhere!

7:09PM PDT on Apr 26, 2012

Georgia A - you're quite correct.

Obama appointed Immelt as head of his "Council on Jobs and Competitiveness".

Obama however, forgot to tell Immelt that the jobs are supposed to be created in America - not China?

Or wait - maybe that WAS Obama's plan? Hmmmm....

One more thing - Obama's administration has given this greedy corporation, that has assets totaling many billions of dollars, and that does not pay it's fair share of taxes, hundreds of millions of our tax dollars for a wind power project!

And into whose pocket will the profits go - not back into ours, that's for sure!

You can bet that Obama will receive huge campaign donations from GE - go figure!

OMG! Obama Must Go!

11:20AM PDT on Apr 26, 2012

Correct me here if I'm wrong, but I seem to remember Obama appointed the CEO of GE as the "job czar". Then GE closes down their American works and ships it all overseas. That's why when I purchased new appliances, they were NOT GE appliances.

10:35AM PDT on Apr 26, 2012

Jeffrey "no helmet" w- and what did you call it under Bush?
If a corporation wants to consider itself a person, then like every US citizen they should pay their fare share in taxes.
These corporations have been getting tax breaks since Bush. The reasoning was to create jobs. Where are these jobs? Since it has not created any new jobs, why continue? When a corporation pays -18% there is something wrong with the system.

8:26AM PDT on Apr 26, 2012

and now they think they deserve a tax amunisty where they can bring back all the money they have ever seas for free also.

7:17AM PDT on Apr 26, 2012

Tax breaks for the“job creators,” cannot work in a “global economy.” The jobs being created are those being sent overseas. That is the incentive. Innovation and job creation won’t stop the artificial removal of jobs from the U.S. and therefore cannot create national prosperity. Education will not help either. The price differential for the educated is equally disparate and those jobs are already being sent over seas.

Corporations have over-powered our government which now believes that out-sourcing and off-shoring of U.S. jobs is inevitable and necessary with expectations that the middle class should fall on their swords. It is the underlying cause of the financial collapse and borders on national security with the loss of our middle class tax base. Yet, this nation does nothing, not even demand it be restricted or disincentivized by whatever method. International businesses are doing the UN-AMERICAN activity of destroying U.S. salaries, U.S. businesses that hire in the U.S., and as an end result, destroying the U.S. marketplace while still demanding BUSINESS ENTITLEMENTS and protections for themselves.

Infrastructure spending and tax breaks will not replace enough jobs to keep up with the hemorrhaging loss of U.S. jobs from out-sourcing over seas. Neither party will do anything about it without grass roots efforts of protest. If nothing is done we will deserve what we get and it will get a lot worse before it gets better.

7:16AM PDT on Apr 26, 2012

Jeffrey W.

Who do you think your kidding? If Obama tried to stop it the Corpublicans would fight him tooth and nail and you know it.

You really need to bone up on your Troll skills.

6:13AM PDT on Apr 26, 2012

GE is paying my pension. I worked there for 38 years. I do not like what the company has turned into. The Fortune 500 has loop-holed their way into a tax free zone. Not only GE. I don't condone the relationship of Immelt/Obama. Yes, it is crony capitalism.

11:32AM PDT on Apr 25, 2012

GE is a prime example of crony capitalism under Obama.

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Kathleen J. Kathleen is currently the Activism Coordinator at Care2. more
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