Talking about cutting taxes on the wealthiest few, General Electric, one of the nation’s largest corporation, made headlines by reaping near-record profits — and paying no corporate income taxes. None. Zip. In fact, on worldwide profits of $14.2 billion, of which $5.1 billion was earned in the U.S., they claimed a tax benefit of $3.2 billion.
So while you’re finishing up your tax returns before the April 15 deadline, chew on that for a while.