General Electric’s accountants and CFO must be a tad smarter than the average bear.
Which is a shame for Uncle Sam, because GE is, ahem, electrocuting him.
GE reportedly held $108 billion in profits overseas at the end of year, a ploy to avoid paying taxes.
GE reportedly paid no U.S. taxes at all in 2010 and despite earning billions in profits, paid an average tax rate of just 1.8 percent between 2002 and 2011.
I don’t know about you, but I’m going to overturn my sofa and send those few coins overseas.