VIDEO: Flash Mob Shuts Down GE Lobby, Performs ‘General Electric Slide’
GE shareholders, concerned citizens descend on Summer Street headquarters to raise awareness of corporate giant’s federal tax dodging
Dozens of General Electric (NYSE: GE) shareholders and fellow concerned citizens descended on GE’s Boston headquarters today for a choreographed protest of the corporate giant’s tax dodging practices. The lunch hour flash mob shut down the company’s Summer Street lobby for nearly 20 minutes, as the crew donned blaze orange MASSUNITING hats and performed the “General Electric Slide” to the tune of the 1976 Marcia Griffiths classic [lyrics below].
Check out video of the “General Electric Slide” flash mob here: http://bit.ly/IqRvH6
A new report by the non-partisan Institute on Taxation & Economic Policy and Citizens for Tax Justice reveals that General Electric is amongst the worst tax dodgers in America. Despite posting profits of more than $19.6 billion over the last three years, GE managed to draw in a federal tax refund of $3.7 billion. The resulting net-negative tax rate of -18.9% placed GE near the top of the non-profits’ “Dirty Thirty” list of corporate tax dodgers.
“As a shareholder, I’m saddened to see General Electric has been crowned a top tax dodger yet again,” said Bethanne Sullivan, a GE shareholder from Brockton. “GE brought in nearly $20 billion in profits over the last three years. No one in their right mind can say the company’s billion-dollar tax refunds are justifiable.”
In 2010 alone, General Electric’s federal tax subsidy cost Massachusetts nearly $100 million in federal spending and direct aid – including $15 million for Medicaid, $1 million for education programs and $981,000 in disability compensation for veterans.
“Every year, budgets get tighter and tighter – and every year, taxpayers have to come up with more money just to maintain the basic services we all depend on,” said Lesley Stafford of Boston, who joined Thursday’s flash mob. “If General Electric just paid their fair share like the rest of us do, we wouldn’t be in this mess.”
General Electric shareholders plan to join hundreds of other Massachusetts residents Tuesday, April 17 for a
Tax Day rally and march through Boston’s financial district. The day of action will highlight several of the hub’s most notorious tax-dodging corporations, including GE. Details available at www.TaxDayBoston.org.
‘General Electric Slide’ Lyrics
As performed by Safanya Searcy
We're getting cheated -- it's pathetic!
While they’re making billions – it’s pathetic!
Oooh, it’s shocking! It’s pathetic!
GE pays no taxes – it’s pathetic!
Billions in refunds – it’s pathetic!
You know that ain’t fair – ain’t fair anywhere
Let’s call them out
Before GE bleeds us all dry
Cause they will cheat you, cheat you, cheat you
It’s the General Electric slide
Help us call them out
Before GE bleeds us all dry
We’ve got to fight back, fight back, fight back
Stop they’re dodging, we can’t let them slide
We're all getting cheated -- it's pathetic!
They’re making billions – it’s pathetic!
But they pay no taxes – it’s pathetic!
Immelt makes millions -- it's pathetic!
While they’re screwing workers – it’s pathetic!
You know that ain’t fair – ain’t fair anywhere
[Dance Break]
Help us call them out
Before GE bleeds us all dry
We’ve got to fight back, fight back, fight back
Stop the General Electric slide!
[Dance Break]
We're getting cheated – it’s pathetic!
While they’re making billions – it’s pathetic!
Oooh, it’s shocking! It’s pathetic!
GE pays no taxes – it’s pathetic!
Billions in refunds! It’s pathetic!
You know that ain’t fair – ain’t fair anywhere!
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