GE's Immelt: $14 Billion in, $5 Billion profit, $0 taxes out, Obama's "Hope n' Change"?

How can a company pulls in $14 billion, makes $5 billion profit, and yet pays $0 taxes? It must be Obama's new "hope and change" strategy. Jeff Immelt of GE "hopes it doesn't change". See the source1 below for some of the political and financial gymnastics that end up producing a $0 tax bill for GE.





source0: http://www.nytimes.com/2011/03/25/business/economy/25tax.html?hp
source1: http://www.bnet.com/blog/financial-business/ge-8217s-scandalous-tax-breaks-are-rooted-in-politics/12187 
source2: http://news.yahoo.com/s/yblog_thecutline/20110330/bs_yblog_thecutline/nightly-news-stays-mum-on-ges-0-tax-bill