Mar 31, 2011
Mar 30, 2011
According to The New York Times, last year General Electric (GE) made over $14.2 billion in profit, but paid NO federal tax.1 None.
In fact, thanks to the millions GE spent lobbying Congress, we American taxpayers actually owed GE $3.2 billion in tax credits.2
Now GE is slashing health benefits and retirement benefits for new employees among non-union workers and is expected to push unions to accept similar cutbacks3, while its CEO, Jeff Immelt, gets a 100% pay raise.4
What's worse? Immelt now sits as chair of the President's Council on Jobs and Competitiveness (Jobs Council), representing corporate America to the President on matters like job creation and corporate taxation. That's a slap in the face to every hardworking, tax-paying American—especially GE employees.
That's why we're teaming up with Russ Feingold and his new group Progressives United today to call for Immelt to go. Will you join the call?
One of the chief ways GE avoids paying taxes is by shifting a large portion of its profits overseas, and jobs follow.5 Now GE's CEO is the person charged with helping the President create jobs here in America. That's just perverse.
And if the American people got back just the $3.2 billion GE took in tax credits, it would pay for the programs that House Republicans want to gut, like community health centers providing care to over three million low-income people6 and food and health care assistance to pregnant women, new moms, and children.7 We'd even have enough left to save the jobs of over 21,000 teachers across the country.8
But if we can hold Immelt accountable for GE's corporate irresponsibility, the nation will turn its attention to the injustice of corporate tax evasion in the face of the Republicans' budget-slashing attack on working families.
Make it all happen by signing the petition calling for Immelt to go. Just click below—and share this email with your friends, family, and social networks today.
Thanks for all that you do.
–Lenore, Tim, Marika, Kat, and the rest of the team
1. "G.E.'s Strategies Let It Avoid Taxes All Together," The New York Times, March 24, 2011
4. "UPDATE: GE Doubles CEO Immelt's Compensation, Shrinks Board", Smart Money, March 14, 2011
5. "G.E.'s Strategies Let It Avoid Taxes All Together," The New York Times, March 24, 2011
6. "NACHC Statement in Response to the Budget from the House Appropriations Committee," National Association of Community Health Centers website, February 9, 2011
8. Based on an annual teacher's salary of $42,500, as noted in the Payscale website (updated March 19, 2011), accessed March 30, 2011
Want to support our work? We're entirely funded by our 5 million members—no corporate contributions, no big checks from CEOs. And our tiny staff ensures that small contributions go a long way. Chip in here.
PAID FOR BY MOVEON.ORG POLITICAL ACTION, http://pol.moveon.org/. Not authorized by any candidate or candidate's committee. This email was sent to Terry Travers on March 30, 2011. To change your email address or update your contact info, click here. To remove yourself from this list, click here.
Date: Tue, 29 Mar 2011 15:25
To: tenacraq blog
Subject: Another exclusive download from Europe '72: The Complete Recordings
Mar 29, 2011
Posted 5 mins ago
I haven't been able to figure out the right's obsession with abortion. I would guess that if every aborted fetus from the inception of Roe v. Wade to 1989-90 had been born and were eligible to vote today, the vast majority of those poor souls would not be conservatives. Is it that they're so confident of their ultimate victory that they overlook that possibility and are just counting on the increased population of the downtrodden as a future source of slave labor? I hesitate to believe that "soylent green" has anything to do with it. On the other hand...
Mar 28, 2011
To receive the text-only version of The Morning Scoop click here. Please add email@example.com to your address book.