Taxing the Multinationals

Corporate America has more than a trillion dollars in overseas earnings that are not being taxed. General Electric alone has $94 billion. President Obama says Congress should change that to help bring down the deficit, but the head of his outside economic advisors is also the head of General Electric. We have more on the Washington Merry Go-Round. Also, it's one budget vote down and one to go on Capitol Hill, and how the Gulf oil disaster created "spillionaires."

Banner image: President Obama meets with members of the President's Council on Jobs and Competitiveness, February 24, 2011, General Electric CEO Jeffrey Immelt, chair of the Council on Jobs and Competitiveness (L) Chief of Staff Bill Daley (2nd R) and AFL-CIO President Richard Trumka (far R). Official White House photo: Pete Souza