Taxpayers delivered a tax bill for $26.5 billion owed in back federal income taxes by General Electric during CEO Jeffrey Immelt's keynote speech this morning at the Society of Automotive Engineers World Congress.
We're tired of corporate tax-dodgers like GE employing armies of DC lobbyists to avoid paying their fair share, so activists in town to protest outside their annual Shareholder Meeting decided to let them know what we think of it.
Watch this video (key part: 0:55 in):
"Mr. Immelt, when are you going to pay the $26 billion in taxes," asked Shyquetta McElroy, a mother of two who traveled from Milwaukee, WI, to attend the GE shareholder meeting. "I pay my taxes year after year - why doesn't GE?"
At the same time, dozens more played tax-dodgeball outside. The game, symbolic of the company's history of dodging their responsibility to Detroit and communities across the country, comes the day before GE is scheduled to host their shareholder meeting in Detroit.
There's video of that, as well:
GE has become the poster child of American corporate tax-dodging, paying zero federal income taxes from 2008 to 2010, and paying only a 2.3% effective rate over the last ten years. While GE points out that it paid taxes last year, its effective tax rate was 11% - lower than the Romney Rate. The corporation owes $26.5 billion to taxpayers under the statutory 35% rate.