Paying taxes

Regarding the taxes the large American corporations pay, yes, they pay a higher rate than anywhere else in the world – except there are so many loopholes and deductions that last year the head of General Electric admitted the company paid no taxes at all for at least one year. When asked how many General Electric jobs were overseas, the figure was just over 50%. None of the other large American corporations were even willing to give out this information. So you can just imagine….

After September 2008, the Dow sank dramatically to about 8,000, I recall. Today, the Dow hovers around the 13,000 mark, as high as it’s ever been, showing strong confidence in the stock market. So American big business seems to be doing okay. But are they hiring American workers? Are the profits finding their way overseas instead? But don’t worry; when the American worker accepts less in pay and a lower standard of living than the worker in India or China, those overseas jobs will start to come back.

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