Taxes And The American Corporation

45:46

March 29, 2011

American corporations paying zero in American taxes, starting with General Electric. We’ll look at what’s going on.

Jeffrey R. Immelt, right, General Electric's chief executive, was appointed by President Obama to head the President's Council on Jobs and Competitiveness. (AP)

Just over two weeks until tax day now -– April 15th. You may be burning the midnight oil, trying to figure out what to pay, how to pay, how to save a buck. American multinational corporations have that game down.

In the 1950s, almost a third of federal tax receipts came from corporations. Today, that’s been whittled down to 6.6 percent.

Some of the biggest global players are parking profits overseas, and paying little or nothing at home. It’s legal. But it’s also been lobbied to a fare thee well. At a time of massive deficits, some call it corrupt.

This hour On Point: U.S. corporations, global tax games.
- Tom Ashbrook

Guests:

David Kocieniewski, tax reporter for the New York Times.
Martin Sullivan, contributing editor for Tax Analysts, a non-profit, nonpartisan group that produces research and analysis on tax policy.
James Hines, professor of Law and Economics at the University of Michigan and an expert on tax issues.

More:

New York Times: G.E.’s strategies let it avoid taxes altogether

This program aired on March 29, 2011.