General Electric (GE) = Government Electric? Not with Taxes

General Electric (NYSE:GE) is getting some negative attention today on the news it paid zero in U.S. taxes last year while making $14.2 billion in profits.

While every company should do everything it can t minimize taxes, and there is no fault in General Electric doing that, it's the coziness they're increasingly having with the government that gives me problems, as well as participating in so-called "green" projects which are huge tax write-offs, even though they are very dubious as to being effective. Wind turbines are one of those segments they serve like that.

Also it's ties to the government via contracts and Jeffrey Immelt sitting on at the top of Obama's business panel doesn't look good for the company.

It should distance itself more from the government and not give the appearance of being in bed with them when they have the type of aggressive tax strategy they're pursuing.

GE spokeswoman Anne Eisele said, "G.E. is committed to acting with integrity in relation to our tax obligations. We are committed to complying with tax rules and paying all legally obliged taxes. At the same time, we have a responsibility to our shareholders to legally minimize our costs."

General Electric was trading at $19.87, up $0.09, or 0.46 percent, as of 11:51 AM EDT.