Why a company might hire 975 tax experts 

I'm not exorcised about GE's $0 federal income tax bill for last year like many are. I think all corporations should pay $0 income tax. The real problem, as I blogged last week, is the complex tax code and high tax rates that make it profitable for GE to hire 900 people to try to minimize taxes. Those 900 people add no value to our society. It wouldn't be too different if GE was paying 900 people to do Soduko puzzles all day because government policy made that profitable.

Today, Ira Stoll at "The Future of Capitalism" has a post highlighting how this sort of thing is the government's fault, not GE's:

The Wall Street Journal ... has a copy of a nine page, 47-question "information document request" that one taxpayer received from the IRS.... if the IRS is showering requests like this on taxpayers — at some large companies, the IRS even has full-time teams of auditors on site who work full time on just those companies — it's a labor-intensive task simply to respond to the requests, let alone dream up ways of lowering a company's tax exposure.

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Timothy P. Carney

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