I bet most of you didn’t know undocumented immigrants contributed more – much more – to the national treasury last year than General Electric. Surprised? Yet it’s true.
While GE – which earned a whopping $14 billion last year – is reported to have paid nothing, nada, zero in taxes (GE denies it), the undocumented paid billions in state and local taxes in 2010.
No, it’s not me talking; it’s the Institute for Taxation and Economic Policy (itepnet.org), a prestigious, nonprofit, nonpartisan research organization that works on federal, state and local tax policy issues.
Obviously the old saying, “Nothing is certain but death and taxes,” is not to be believed anymore. Or rather, only half of it can be believed.
Because death, of course, remains as dreaded and inevitable as ever, but with taxes the story is different.
