Immelt wishes to do away with American holdings outside the U.S. Well, wouldn't that just set up a lovely picture for American corporations? Slide all your money into that offshore company in some low-rent Indonesia city or some tax-free haven in the Caribbean and you got it made.
Investing in the US, Immelt says? THAT'S the most hypocritical statement ever made. INVESTING in the US is called paying taxes so the our country can continue to function. Withholding those taxes, by any means, is not investing in the country but investing in the business. Two different things.
If GE was a loyal American company, they would have no problem paying their taxes AND creating American jobs. They would find ways to do both. It might help if Jeff Immelt was paid $142 million dollars. If he's paid that much, just imagine all the little executive underlings in GE and how much THEY makes. Bring down the ungodly cost of executives and a company could probably pay it's taxes, hire people AND make a profit.