General Electric, America’s largest corporation, made $14,200,000,000 in profits in 2010 and paid $0 in taxes — that’s right, zero dollars in taxes.
At the same time, C.E.O. Jeffrey Immelt saw his compensation double. Now GE is expected to ask 15,000 of their unionized workers to make major concessions in wages and benefits.
Adding insult to injury, Mr. Immelt is chair of President Obama’s Council on Jobs and Competitiveness. That’s wrong. Mr. Immelt should not lead the administration’s effort to create jobs.
Join Russ Feingold and sign Progressives United’s petition for Mr. Immelt to resign from his position on President Obama’s jobs panel today.