Rating is available when the video has been rented.
This feature is not available right now. Please try again later.
Published on Mar 31, 2011
One year after the original tax avoidance, General Electric and Jeff Immelt still paying nothing in income tax to Uncle Sam. And the new fad in corporate patriotism is the tax inversion, the merging of the US business with one offshore in a country with an economy expressly designed for legal tax cheating, like Ireland.
"People get to think what they think" -- Jeffrey Immelt, on GE's paying zero corporate income tax. Or "Let them eat cake."
OK, this is what I think. This should have been the television commercial everyone had shoveled at them in primetime for weeks, the "GE and Jeff" song. From ecomagination to Taxavoidination. Expert tax avoidance advice from the top of corporate America. Join the line dance competition, yeah. See the dancing elephant. Win a prize, austerity and loss for you, more breaks for corporate America. Work work, all week long, punchin' that clock from dusk til dawn, it's time for more good time, sang Mr. Alan Jackson.
Dance to the tax cheat and evasion boogie. Officially brought to you by the President's Council on Jobs and Competitiveness.
Jeff Immelt, from 60 Minutes on Sunday, the 9th:
"I want you to root for me. Everybody in Germany roots for Siemens ... I want you to say, 'Win GE!'
"I think this notion that it's the population of the US against the big companies is just wrong, it's just wrong-minded ... Our employees root for us, they want us to win. I don't know why you don't."
GE over the land, they made a real good plan Pay no taxes to the man No cash money for Uncle Sam
GE's real good plan, No cash money for Uncle Sam
Fire all that labor now, they're all just real fat cows Gonna implement a mighty plan No cash money for Uncle Sam
GE's real good plan -- No cash money for Uncle Sam
Outsource! Outsource! Offshore! No tax to the max!
Looks good, looks real good, GE's real big plan -- no cash money for Uncle Sam
Jeff thought it was mighty funny Takin' away all that money Everyone else had to pay But we bribe Jeff just to stay