Welcome to DU!
The truly grassroots left-of-center political community where regular people, not algorithms, drive the discussions and set the standards.
Join the community:
Create a free account
Support DU (and get rid of ads!):
Become a Star Member
Latest Breaking News
General Discussion
The DU Lounge
All Forums
Issue Forums
Culture Forums
Alliance Forums
Region Forums
Support Forums
Help & Search
Economy
In reply to the discussion: Weekend Economists Batten Down the Hatches October 26-28, 2012 [View all]Demeter
(85,373 posts)73. 10 Filthy-Rich, Tax-Dodging Hypocrites Pushing Disastrous Austerity on America
http://www.alternet.org/economy/10-filthy-rich-tax-dodging-hypocrites-pushing-disastrous-austerity-america?akid=9592.227380.z-EIbO&rd=1&src=newsletter734029&t=7&paging=off
The Fix the Debt coalition is using the so-called fiscal cliff to push the same old corporate agenda of more tax breaks while shifting the burden on to the rest of us...Fix the Debt is a coalition of more than 80 CEOs who claim they know best how to deal with our nations fiscal challenges. The group boasts a $60 million budget just for the initial phase of a massive media and lobbying campaign.
The irony is that CEOs in the coalitions leadership have been major contributors to the national debt they now claim to know how to fix. These are guys whove mastered every tax-dodging trick in the book. And now that theyve boosted their corporate profits by draining the public treasury, how do they propose we put our fiscal house back in order? By squeezing programs for the poor and elderly, including Social Security, Medicare, and Medicaid.
Fix the Debt claims their agenda is not just about spending cuts. But when it comes to their tax proposals, they use the slippery term pro-growth reform to push for cuts in deductions that are likely to include credits for working families and you guessed it more corporate tax breaks. Chief among these is a proposal to switch to a territorial system under which corporate foreign earnings would be permanently exempted (instead of being taxed when they are returned to America). This idea, also supported by the Bowles-Simpson deficit commission, would make it even more profitable for big corporations to use accounting tricks to disguise U.S. profits as income earned in tax havens. Citizens for Tax Justice estimates that such tax haven abuse will cost the Treasury more than $1 trillion over the next decade.
So who are the CEOs who are telling the rest of us to be responsible and tighten our belts after theyve spent decades stiffing the U.S. Treasury? Of the 80 members of Fix the Debts CEO Fiscal Leadership Council, here are 10 that stand out as the biggest hypocrites:
1. Jeffrey Immelt, General Electric
2. Jim McNerney, Boeing
3. Lloyd Blankfein, Goldman Sachs
4. Brian T. Moynihan, Bank of America
5. David Cote, Honeywell Corporation
6. Randall Stephenson, AT&T
7. Arne Sorenson, Marriott International
8. Alexander Cutler, Eaton Corporation
9. Lowell McAdam, Verizon
10. Steve Ballmer, Microsoft
UGLY DETAILS AT LINK
Sanders to CEOs: Look in the Mirror
When Fix the Debt launched their 80 CEO-strong coalition on October 25, Senator Bernie Sanders responded by stating, Before telling us why we should cut Social Security, Medicare and other vitally important programs, these CEOs might want to take a hard look at their responsibility for causing the deficit and this terrible recession.
MORE
The Fix the Debt coalition is using the so-called fiscal cliff to push the same old corporate agenda of more tax breaks while shifting the burden on to the rest of us...Fix the Debt is a coalition of more than 80 CEOs who claim they know best how to deal with our nations fiscal challenges. The group boasts a $60 million budget just for the initial phase of a massive media and lobbying campaign.
The irony is that CEOs in the coalitions leadership have been major contributors to the national debt they now claim to know how to fix. These are guys whove mastered every tax-dodging trick in the book. And now that theyve boosted their corporate profits by draining the public treasury, how do they propose we put our fiscal house back in order? By squeezing programs for the poor and elderly, including Social Security, Medicare, and Medicaid.
Fix the Debt claims their agenda is not just about spending cuts. But when it comes to their tax proposals, they use the slippery term pro-growth reform to push for cuts in deductions that are likely to include credits for working families and you guessed it more corporate tax breaks. Chief among these is a proposal to switch to a territorial system under which corporate foreign earnings would be permanently exempted (instead of being taxed when they are returned to America). This idea, also supported by the Bowles-Simpson deficit commission, would make it even more profitable for big corporations to use accounting tricks to disguise U.S. profits as income earned in tax havens. Citizens for Tax Justice estimates that such tax haven abuse will cost the Treasury more than $1 trillion over the next decade.
So who are the CEOs who are telling the rest of us to be responsible and tighten our belts after theyve spent decades stiffing the U.S. Treasury? Of the 80 members of Fix the Debts CEO Fiscal Leadership Council, here are 10 that stand out as the biggest hypocrites:
1. Jeffrey Immelt, General Electric
2. Jim McNerney, Boeing
3. Lloyd Blankfein, Goldman Sachs
4. Brian T. Moynihan, Bank of America
5. David Cote, Honeywell Corporation
6. Randall Stephenson, AT&T
7. Arne Sorenson, Marriott International
8. Alexander Cutler, Eaton Corporation
9. Lowell McAdam, Verizon
10. Steve Ballmer, Microsoft
UGLY DETAILS AT LINK
Sanders to CEOs: Look in the Mirror
When Fix the Debt launched their 80 CEO-strong coalition on October 25, Senator Bernie Sanders responded by stating, Before telling us why we should cut Social Security, Medicare and other vitally important programs, these CEOs might want to take a hard look at their responsibility for causing the deficit and this terrible recession.
MORE
Edit history
Please sign in to view edit histories.
91 replies
= new reply since forum marked as read
Highlight:
NoneDon't highlight anything
5 newestHighlight 5 most recent replies
RecommendedHighlight replies with 5 or more recommendations
Businessman Billed A Cold-Call Firm $13 For Every Minute They Wasted His Time—And Won
xchrom
Oct 2012
#31
Obama says he’ll renew pursuit of ‘grand bargain,’ offering specifics on agenda
Demeter
Oct 2012
#39