who as we know never saw a dollar of tax revenue that they couldn't spend in spades...
I thought that this hoax press release was brilliant
Hoax Press Release Targets GE Tax Controversy
As we all know, GE paid no income tax on 5.1 Billion in US profits
in fact they received a 3.2 Billion tax refund!
Lucky them.
Here's an excerpt from the faux release
GE CEO Jeffrey Immelt has informed the Obama administration that the company will be gifting its entire 2010 tax refund, worth $3.2 Billion, to the US Treasury on April 18, Tax Day, and will furthermore adopt a host of new policies that secure its position as a leader in corporate social responsibility.
"We want the public to know that we've heard them, and that we know many Americans are going through tough times," said GE CEO Jeffrey Immelt. "GE will therefore give our 2010 tax refund back to the public and allow the public to decide how to spend it."
Immelt acknowledged no wrongdoing. "All seven of our foreign tax havens are entirely legal," Immelt noted. "But Americans have made it clear that they deplore laws that enable tax avoidance. While we owe it to our shareholders to use every legal loophole to maximize returns — we also owe something to the American people. We didn't write the laws that let us legally avoid paying taxes. Congress did. But we benefit from those laws, and now we'd like to share those benefits. We are proud to be giving something back to America, and we are proud to set an example for all industry to follow."
Of course, the AP fell for it!
The fake release included the G.E. logo and a link to a slick website that looked very much like the company's official one. The Associated Press fell for it, as did USA Today (the paper promptly removed its story, and then ran a piece pointing out how the AP had fallen for the prank).
