Tax reform? We don't need no stinking tax reforms.

[J sub D]

G.E.’s Strategies Let It Avoid Taxes Altogether

General Electric, the nation’s largest corporation, had a very good year in 2010.

The company reported worldwide profits of $14.2 billion, and said $5.1 billion of the total came from its operations in the United States.

Its American tax bill? None. In fact, G.E. claimed a tax benefit of $3.2 billion.

I'm becoming increasingly convinced that the biggest government hindrance of economic growth is tax code complexity, not whether the top rate is 25%, 32%, 35% or 41.37%. The whole damned abomination needs tro be scrapped.