There has been little talk about increasing revenue, despite the insistence of economists and former politicians from all across the political spectrum that spending cuts alone will not balance the budget and are likely to slow down or even stop the economic recovery. An article in last week's New York Times may help spark some interest in at least reforming the tax code in ways that could increase revenue.
According to the Times, last year General Electric reported profits of $14.2 Billion, with $5.1 Billion of that total coming from operations within the United States. But thanks to the tax experts in its in house law department, GE did not pay a single dime in US taxes. In fact, rather than pay taxes, GE has what amounts to its own in house tax law firm with over 900 employees and has spent over $200 Million in lobbying over the last ten years, with much of that being focused on lobbying for beneficial tax laws. One loophole in particular, referred to as active financing, is particularly troubling. When Congress was preparing to let it lapse, the GE lobbying team went into gear and managed to turn around Charles Rangel, then the Chairman of the House Ways and Means Committee. The loophole survived.
Active financing means that if a company sells something like say a jet aircraft and finances it overseas, then it pays no taxes on the interest or profits unless they bring the money back to the US. In short, it's a tax break that is only available to multinational corporations, and not to the millions of small businesses that drive our economy. And it's worth about $9 Billion per year in lost tax revenue. If that was the end of it, it would still be an egregious tax dodge that further harms our economy by encouraging US companies to finance large sales offshore and to keep the profits from those enterprises outside of the US. But what makes it worse is that companies can still receive tax breaks or tax credits on some of those sales, like green energy turbines, that can then be applied to their US tax liabilities. This is how companies like GE are able to have record breaking profits while paying little to no federal tax.
The US corporate tax rate is one of the highest in the developed world which has resulted in more companies moving manufacturing and jobs overseas. But tax loopholes that also encourage moving money and jobs out of the US while making the high domestic tax rate irrelevant aren't helping the situation any either, and are contributing to the budget crisis. President Obama has talked about reforming the system to cut the top rate while eliminating many of the loopholes and shelters. This would benefit the small businesses that can't take advantage of loopholes like active financing while requiring multinational corporations to play by the same rules as the rest of us.
April 15 is right around the corner - and this year I'm paying more taxes than General Electric. It's time for a change.
published March 29, 2011
By Harrison Barnes, CEO and Founder - BCG Attorney Search 
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About Harrison Barnes
No legal recruiter in the United States has placed more attorneys at top law firms across every practice area than Harrison Barnes. His unmatched expertise, industry connections, and proven placement strategies have made him the most influential legal career advisor for attorneys seeking success in Big Law, elite boutiques, mid-sized firms, small firms, firms in the largest and smallest markets, and in over 350 separate practice areas.
A Reach Unlike Any Other Legal Recruiter
Most legal recruiters focus only on placing attorneys in large markets or specific practice areas, but Harrison places attorneys at all levels, in all practice areas, and in all locations—from the most prestigious firms in New York, Los Angeles, and Washington, D.C., to small and mid-sized firms in rural markets. Every week, he successfully places attorneys not only in high-demand practice areas like corporate and litigation but also in niche and less commonly recruited areas such as:
- Immigration law
- Workers’ compensation
- Insurance defense
- Family law
- Trusts & estates
- Municipal law
- And many more...
This breadth of placements is unheard of in the legal recruiting industry and is a testament to his extraordinary ability to connect attorneys with the right firms, regardless of market size or practice area.
Proven Success at All Levels
With over 25 years of experience, Harrison has successfully placed attorneys at over 1,000 law firms, including:
- Top Am Law 100 firms such including Sullivan and Cromwell, and almost every AmLaw 100 and AmLaw 200 law firm.
- Elite boutique firms with specialized practices
- Mid-sized firms looking to expand their practice areas
- Growing firms in small and rural markets
He has also placed hundreds of law firm partners and has worked on firm and practice area mergers, helping law firms strategically grow their teams.
Unmatched Commitment to Attorney Success – The Story of BCG Attorney Search
Harrison Barnes is not just the most effective legal recruiter in the country, he is also the founder of BCG Attorney Search, a recruiting powerhouse that has helped thousands of attorneys transform their careers. His vision for BCG goes beyond just job placement; it is built on a mission to provide attorneys with opportunities they would never have access to otherwise. Unlike traditional recruiting firms, BCG Attorney Search operates as a career partner, not just a placement service. The firm’s unparalleled resources, including a team of over 150 employees, enable it to offer customized job searches, direct outreach to firms, and market intelligence that no other legal recruiting service provides. Attorneys working with Harrison and BCG gain access to hidden opportunities, real-time insights on firm hiring trends, and guidance from a team that truly understands the legal market. You can read more about how BCG Attorney Search revolutionizes legal recruiting here: The Story of BCG Attorney Search and What We Do for You.
The Most Trusted Career Advisor for Attorneys
Harrison’s legal career insights are the most widely followed in the profession.
- His articles on BCG Search alone are read by over 150,000 attorneys per month, making his guidance the most sought-after in the legal field. Read his latest insights here.
- He has conducted hundreds of hours of career development webinars, available here: Harrison Barnes Webinar Replays.
- His placement success is unmatched—see examples here: Harrison Barnes' Attorney Placements.
- He has created numerous comprehensive career development courses, including BigLaw Breakthrough, designed to help attorneys land positions at elite law firms.
Submit Your Resume to Work with Harrison Barnes
If you are serious about advancing your legal career and want access to the most sought-after law firm opportunities, Harrison Barnes is the most powerful recruiter to have on your side.
Submit your resume today to start working with him: Submit Resume Here.
With an unmatched track record of success, a vast team of over 150 dedicated employees, and a reach into every market and practice area, Harrison Barnes is the recruiter who makes career transformations happen and has the talent and resources behind him to make this happen.
A Relentless Commitment to Attorney Success
Unlike most recruiters who work with only a narrow subset of attorneys, Harrison Barnes works with lawyers at all stages of their careers, from junior associates to senior partners, in every practice area imaginable. His placements are not limited to only those with "elite" credentials—he has helped thousands of attorneys, including those who thought it was impossible to move firms, find their next great opportunity.
Harrison’s work is backed by a team of over 150 professionals who work around the clock to uncover hidden job opportunities at law firms across the country. His team:
- Finds and creates job openings that aren’t publicly listed, giving attorneys access to exclusive opportunities.
- Works closely with candidates to ensure their resumes and applications stand out.
- Provides ongoing guidance and career coaching to help attorneys navigate interviews, negotiations, and transitions successfully.
This level of dedicated support is unmatched in the legal recruiting industry.
A Legal Recruiter Who Changes Lives
Harrison believes that every attorney—no matter their background, law school, or previous experience—has the potential to find success in the right law firm environment. Many attorneys come to him feeling stuck in their careers, underpaid, or unsure of their next steps. Through his unique ability to identify the right opportunities, he helps attorneys transform their careers in ways they never thought possible.
He has worked with:
- Attorneys making below-market salaries who went on to double or triple their earnings at new firms.
- Senior attorneys who believed they were “too experienced” to make a move and found better roles with firms eager for their expertise.
- Attorneys in small or remote markets who assumed they had no options—only to be placed at strong firms they never knew existed.
- Partners looking for a better platform or more autonomy who successfully transitioned to firms where they could grow their practice.
For attorneys who think their options are limited, Harrison Barnes has proven time and time again that opportunities exist—often in places they never expected.
Submit Your Resume Today – Start Your Career Transformation
If you want to explore new career opportunities, Harrison Barnes and BCG Attorney Search are your best resources. Whether you are looking for a BigLaw position, a boutique firm, or a move to a better work environment, Harrison’s expertise will help you take control of your future.
? Submit Your Resume Here to get started with Harrison Barnes today.
Alternative Summary
Harrison is the founder of BCG Attorney Search and several companies in the legal employment space that collectively gets thousands of attorneys jobs each year. Harrison’s writings about attorney careers and placement attract millions of reads each year. Harrison is widely considered the most successful recruiter in the United States and personally places multiple attorneys most weeks. His articles on legal search and placement are read by attorneys, law students and others millions of times per year.
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