Major parties tell you to tighten your belt, so the corporate pigs may feast
I’m fed up with Democrat and Republican lies. One of those lies? That it’s time America had an “adult conversation” about our budget and the deficit. The conversation goes like this: Our country’s broke and we, the people, have to reduce our living standard to pay for corporate greed.
Of course, they’d never use that kind of honest language. But throughout the land workers are being denied their collective bargaining rights, social programs are on the chopping block — even children are being kicked off of food stamps! At the same time, insanely wealthy corporations who should pay their fair share, often pay no taxes at all.
Bank of America paid absolutely no federal income tax in 2009 while making $4.4 billion. This is a company that was bailed out by us, the tax payers, to the tune of $1 trillion and yet they squirm through every dirty loophole imaginable to avoid paying their fair share. In the same year, top BoA executives were paid between $6 and $30 million.
Between 2008 and 2010 Boeing didn’t “pay a dime of U.S. federal corporate income taxes.” During the same period Boeing was granted a whopping $35 billion federal contract. That’s your money, or it used to be, America. And I almost forgot to mention their $124 million IRS refund.
While Exxon-Mobil’s CEO made an obscene $29 million in 2009, the enormous oil conglomerate managed to pay nothing into the U.S. Treasury via offshore subsidiaries and corporate tax loopholes. Mad? Oh, and they also received a $156 million rebate from the IRS, according to its SEC filings. How about now?
And, of course, there’s GE. General Electric, the largest company in the world, had profits of $14.2 billion worldwide, $5.1 billion coming from business in the U.S. How much did they pay in taxes? ZERO dollars and ZERO cents. Jeffrey Immelt, former GE CEO and recent addition to Obama’s “Jobs and Competitiveness” board, earned nearly $10 million last year. And his idea of jobs and competition? “When I am talking to GE managers, I talk China, China, China, China, China…”
GE made a total of $26 billion in U.S. business in the last five year and received a $4.1 billion refund from the IRS. Mad?
This list could go on and on. To see some of the unsourced claims made above, and more, see here.
Fed up yet? I am. I’m fed up with this two-party nonsense, this corporate lie. If you are too, vote Murphy on May 24th.
Originally posted at MurphycanhasCongress.com