Not only that, by hiring an army of tax lawyers, lobbyists and CPAs companies like GE end up taking money OUT of the treasury. Some people will assure you that tax avoidance is completely legal, but it doesn't seem very moral. Especially when common citizens have NO chance to get special, personalized tax breaks.
As for the myth of passing on the cost of taxes to consumers, I suspect one or two truly competitive companies will go looking to cut costs like exhorbitant CEO salaries. When they do and their stocks flourish, the others will have to follow suit.
When I read through some of the posts here, you would think that some people aren't living in the same country. They wail about our plight when many US companies are reaching record stock prices, despite the poor rich folks having to pay taxes at the pre-Bush rates.
What they seem to forget is how America flourished for decades, even with high taxes on the rich and on corporations. Through lobbying and creative accounting the corporate tax burden as a percentage of taxes collected continues to shrink as our national debt continued to soar.
The table below (in millions of dollars) is based on statistics from the Office of Management and the Budget in the White House
Year Total Individual Income Taxes Total Corporate Income Taxes (In Millions) (In Millions) 1943 6,505 9,557 1948 19,319 9,678 1968 68,726 28,665 1988 401,181 94,508 2008 1,145,747 304,346
Gee, if only I could hire an army of lawyers, lobbyists and accountants to get special deals to reduce MY tax bill! Something's definitely wrong with this picture.