Companies are using every loophole they can find to get a tax benefit – and it turns out they are doing it well. According to The New York Times, General Electric made $14.2 billion in profit last year, $5.1 billion of which came from its operations in the United States. But it turns out that not only did G.E. not pay any money in taxes, instead raking in another $3.2 billion in tax benefits. Louise Story, market and Wall Street reporter for The New York Times, explains how they did it – and whether the government is doing anything to stop up the tax gap.
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