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Ghost of Occupy Wall Street to haunt GE meeting
Source: Reuters
Ghost of Occupy Wall Street to haunt GE meeting
By Scott Malone
Tue Apr 24, 2012 1:44pm EDT
(Reuters) - An offshoot of the Occupy Wall Street movement, which rose to prominence last year with its anticorporate stance, plans to bring its populist message to General Electric Co's (GE.N) shareholder meeting in Detroit on Wednesday.
Members of the "99 Percent" movement plan to picket the largest U.S. conglomerate's meeting to protest its low tax rate. The loosely organized coalition, whose name is a contrast to the top 1 percent of wealthy Americans, expects to have more than 2,000 protesters in attendance, according to organizers.
"It's the 99 percent and we want to serve notice to the 1 percent that it's time to start paying your fair share in taxes and being a little more responsible," said Christian Gary, an organizer with Good Jobs Now in Detroit.
The complaints were a reference to GE's low 2010 and 2009 tax rates, which the company says were a result of heavy losses at its GE Capital arm during the financial crisis. A 2011 report by left-leaning think tank Citizens for Tax Justice claimed GE had an effective negative tax rate from 2008 through 2010, which the company has denied.
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By Scott Malone
Tue Apr 24, 2012 1:44pm EDT
(Reuters) - An offshoot of the Occupy Wall Street movement, which rose to prominence last year with its anticorporate stance, plans to bring its populist message to General Electric Co's (GE.N) shareholder meeting in Detroit on Wednesday.
Members of the "99 Percent" movement plan to picket the largest U.S. conglomerate's meeting to protest its low tax rate. The loosely organized coalition, whose name is a contrast to the top 1 percent of wealthy Americans, expects to have more than 2,000 protesters in attendance, according to organizers.
"It's the 99 percent and we want to serve notice to the 1 percent that it's time to start paying your fair share in taxes and being a little more responsible," said Christian Gary, an organizer with Good Jobs Now in Detroit.
The complaints were a reference to GE's low 2010 and 2009 tax rates, which the company says were a result of heavy losses at its GE Capital arm during the financial crisis. A 2011 report by left-leaning think tank Citizens for Tax Justice claimed GE had an effective negative tax rate from 2008 through 2010, which the company has denied.
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Read more: http://www.reuters.com/article/2012/04/24/us-ge-meeting-idUSBRE83N10S20120424
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