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President Obama early this year appointed General Electric’s board chair and chief executive officer Jeffrey Robert Immelt to chair the [U.S.] Council on Jobs and Competitiveness. In the Forbes profile of this jobs czar are these notes and rankings.
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This reality, he says, “cuts against the simplistic theme of the growing bipartisan consensus in Washington that corporate tax rates must come down.”
The facts raise the question as to “whether our elected leaders in both parties will stop memorizing talking points and get to studying data points so we get reality-based tax policy.
“Last year GE spent $39.3 million lobbying Congress, roughly $73,000 for every senator and representative — four times what it spent back when GE’s American tax rates and its share of profits taken in America were both much higher.”
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Johnston is author of Free Lunch: How the Wealthiest Americans Enrich Themselves at Government Expense and Stick You With The Bill (about hidden subsidies, rigged markets, and corporate socialism); and Perfectly Legal: The Covert Campaign to Rig Our Tax System to Benefit the Super Rich—and Cheat Everybody Else. He writes and produces video commentaries on worldwide issues of tax, accounting, economics, public finance and business.
Bennett's books available in New York State independent bookstores: Lift Bridge Bookshop: www.liftbridgebooks.com [Brockport, NY]; Sundance Books: http://www.sundancebooks.com/main.html [Geneseo, NY]; The Book Den, Ltd.: BookDenLtd@frontiernet.net [Danville, NY]; Talking Leaves Books-Elmwood: email@example.com [Buffalo, NY]; Book House of Stuyvesant Plaza: http://www.bhny.com/ [Albany, NY]; Mood Makers Books: www.moodmakersbooks.com [City of Rochester, NY]; Dog Ears Bookstore and Literary Arts Center: www.enlightenthedog.org/ [Buffalo, NY]; Burlingham Books – ‘Your Local Chapter’: http://burlinghambooks.com/ [Perry, NY 14530]; The Bookworm: http://www.eabookworm.com/ [East Aurora, NY]; LONGS’ Cards and Books: http://longscardsandbooks.com/ [Penn Yan, NY] • Articles also at World Pulse: Global Issues through the eyes of Women: http://www.worldpulse.com/ http://www.worldpulse.com/pulsewire