GE made $14.2 billions last year, $5.1 billions in the US, and paid $0 in US taxes. This seems hardly fair.
Next time you have a nothing to do in a rainy weekend, get some annual reports from several Fortune 100 companies, those largest in the United States, and check how much taxes they each paid. You should find many of them pay zero, or much less than you would expect.
In China, the highest personal income tax bracket was 45%, far higher than the US. But many perks are not considered income. Many would then accept a lower salary and have company to pay for part of transportation, rent, kids education, and meals. In fact, for certain jobs, a percentage of salary can simply be deducted as business expenses and not taxed.
We are try to pay less taxes mad when others do not pay their “fair” share. If the laws allow it, why would anyone, or corporate, pay more than they need to. The legislators that we elected passed those laws for GE to exploit. Anyone who thinks GE is wrong just go file 1040EZ and forgo all itemized deductions on April 15th.
And I will be TurboTaxing and keep all tax savings to myself. Thank you very much.