Corp's/CEO's: throw granny under the bus to keep corp. welfare

[Star]

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"...and that government of the people, by the people, for the people..." ~ A. Lincoln



Corp's/CEO's: throw granny under the bus to keep corp. welfare, tax loopholes for the takers - IOW's, austerity for the middle class, another mega-money account in the Caymans for CEO's.



CEO Council Demands Cuts To Poor, Elderly While Reaping Billions In Government Contracts, Tax Breaks


11/25/2012
WASHINGTON -- The corporate CEOs who have made a high-profile foray into deficit negotiations have themselves been substantially responsible for the size of the deficit they now want closed.

The companies represented by executives working with the Campaign To Fix The Debt have received trillions in federal war contracts, subsidies and bailouts, as well as specialized tax breaks and loopholes that virtually eliminate the companies' tax bills.

The CEOs are part of a campaign run by the Peter Peterson-backed Center for a Responsible Federal Budget, which plans to spend at least $30 million pushing for a deficit reduction deal in the lame-duck session and beyond.

During the past few days, CEOs belonging to what the campaign calls its CEO Fiscal Leadership Council -- most visibly, Goldman Sachs' Lloyd Blankfein and Honeywell's David Cote -- have barnstormed the media, making the case that the only way to cut the deficit is to severely scale back social safety-net programs -- Medicare, Medicaid, and Social Security -- which would disproportionately impact the poor and the elderly.
As part of their push, they are advocating a "territorial tax system" that would exempt their companies' foreign profits from taxation, netting them about $134 billion in tax savings, according to a new report from the Institute for Policy Studies titled "The CEO Campaign to ‘Fix’ the Debt: A Trojan Horse for Massive Corporate Tax Breaks" -- money that could help pay off the federal budget deficit.

Yet the CEOs are not offering to forgo federal money or pay a higher tax rate, on their personal income or corporate profits. Instead, council recommendations include cutting "entitlement" programs, as well as what they call "low-priority spending."

Many of the companies recommending austerity would be out of business without the heavy federal support they get, including Goldman Sachs and JPMorgan Chase, which both received billions in direct bailout cash, plus billions more indirectly through AIG and other companies taxpayers rescued.


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[Katzndogz]

It is not possible for the 1% to support the 99% in cradle to grave entitlements.

Democrats always point to the GOP wanting to eliminate programs that the elderly paid into all their lives. It's not true. No one wants to eliminate these programs. But it plays better than taking that 6 foot 200 pound ex-con off disability.

 

[eflatminor]

Yet the CEOs are not offering to forgo federal money...

Are these CEO actually getting federal money? For what? Are so-called "green" companies among those represented? Whatever the case, it sounds like you agree with us Libertarians that no company should get taxpayer money. Excellent!

or pay a higher tax rate, on their personal income or corporate profits.

Corporate tax rates are already among the highest in the western world. Our personal income tax system is also THE MOST PROGRESSIVE in the world. That is, our rich pay a bigger percentage of the overall tax burden than in any other country. OF COURSE they don't want to increase those rates. Surely you can see that would make us all less competitive? Besides, history shows that often, a "higher tax rate" harms the overall economy and results in less revenue to the government. What makes you so sure increasing tax rates will increase revenues?

Instead, council recommendations include cutting "entitlement" programs, as well as what they call "low-priority spending."

Well, it is entitlement programs that drive the majority of federal spending. Even the Department of Defense makes up less of our spending pie than Medicare/Medicade.

So tell us, exactly how do you suggest we "help pay off the federal budget deficit"?

 

[Star]

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In other words,
they want the deficit fixed, as long as they don’t have to
pay for it themselves or give up their
“corporate welfare.” ​

CEO Council Demands Entitlement Program Cuts to Fix Deficit


A group of corporate CEOs that contributed to the burgeoning deficit crisis want the poor and elderly to largely pay for the mess the greedy Wall Street fat cats helped create. The executives working with the Fix the Debt campaign—among them Goldman Sachs’ Lloyd Blankfein and Honeywell’s David Cote—are asking for cuts to entitlement programs such as Medicare, Medicaid and Social Security to reduce the deficit. They claim this route will shave off $4 trillion from it.

“Yet the CEOs are not offering to forgo federal money or pay a higher tax rate on their personal income or corporate profits,” write The Huffington Post’s Christina Wilkie and Ryan Grim. “Instead, council recommendations include cutting ‘entitlement’ programs, as well as what they call ‘low-priority spending.’ ”

In other words, they want the deficit fixed, as long as they don’t have to pay for it themselves or give up their “corporate welfare.” Just another day in the life of a bankster.


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[EdwardBaiamonte]

“Yet the CEOs are not offering to forgo federal money

what Federal money??? The liberal forgot to say????????

or pay a higher tax rate on their personal income

top 1% pay 40% of all federal income tax. They pay too much, not too little

or corporate profits,”

American corporate taxes are the highest in the world and must be lowered to make us competitive.

See why we are positive a liberal will be slow, so very very slow??

 

[rdean]

It is not possible for the 1% to support the 99% in cradle to grave entitlements.

Democrats always point to the GOP wanting to eliminate programs that the elderly paid into all their lives. It's not true. No one wants to eliminate these programs. But it plays better than taking that 6 foot 200 pound ex-con off disability.

[ame=http://www.youtube.com/watch?v=rRv7MRZj1WM]Democrats Defend Social Security As GOP Plans Elimination - YouTube[/ame]

 

[EdwardBaiamonte]

It is not possible for the 1% to support the 99% in cradle to grave entitlements.

Democrats always point to the GOP wanting to eliminate programs that the elderly paid into all their lives. It's not true. No one wants to eliminate these programs. But it plays better than taking that 6 foot 200 pound ex-con off disability.

[ame=http://www.youtube.com/watch?v=rRv7MRZj1WM]Democrats Defend Social Security As GOP Plans Elimination - YouTube[/ame]

Social Security cant be defended since it is rape and theft. 15% of an average American's life time wages would allow him to retire with a $1.4 million estate, not the dog food money left after the liberal blunder.

Republican capitalism made us all rich, but liberals treasonously stole and wasted the money!!

 

[eflatminor]

It is not possible for the 1% to support the 99% in cradle to grave entitlements.

Democrats always point to the GOP wanting to eliminate programs that the elderly paid into all their lives. It's not true. No one wants to eliminate these programs. But it plays better than taking that 6 foot 200 pound ex-con off disability.

[ame=http://www.youtube.com/watch?v=rRv7MRZj1WM]Democrats Defend Social Security As GOP Plans Elimination - YouTube[/ame]

Social Security cant be defended since it is rape and theft. 15% of an average American's life time wages would allow him to retire with a $1.4 million estate, not the dog food money left after the liberal blunder.

Republican capitalism made us all rich, but liberals treasonously stole and wasted the money!!

It's also pretty much a Ponzi Scheme...except when central planners do it of course...

 

[EdwardBaiamonte]

Democrats Defend Social Security As GOP Plans Elimination - YouTube

Social Security cant be defended since it is rape and theft. 15% of an average American's life time wages would allow him to retire with a $1.4 million estate, not the dog food money left after the liberal blunder.

Republican capitalism made us all rich, but liberals treasonously stole and wasted the money!!

It's also pretty much a Ponzi Scheme...except when central planners do it of course...

well, then its merely a liberal central planners Ponzi scheme with the stolen money used to buy votes by delivering even more new and ultimately illusory welfare entitlements.

 

[Trajan]

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"...and that government of the people, by the people, for the people..." ~ A. Lincoln



Corp's/CEO's: throw granny under the bus to keep corp. welfare, tax loopholes for the takers - IOW's, austerity for the middle class, another mega-money account in the Caymans for CEO's.



CEO Council Demands Cuts To Poor, Elderly While Reaping Billions In Government Contracts, Tax Breaks


11/25/2012
WASHINGTON -- The corporate CEOs who have made a high-profile foray into deficit negotiations have themselves been substantially responsible for the size of the deficit they now want closed.

The companies represented by executives working with the Campaign To Fix The Debt have received trillions in federal war contracts, subsidies and bailouts, as well as specialized tax breaks and loopholes that virtually eliminate the companies' tax bills.

The CEOs are part of a campaign run by the Peter Peterson-backed Center for a Responsible Federal Budget, which plans to spend at least $30 million pushing for a deficit reduction deal in the lame-duck session and beyond.

During the past few days, CEOs belonging to what the campaign calls its CEO Fiscal Leadership Council -- most visibly, Goldman Sachs' Lloyd Blankfein and Honeywell's David Cote -- have barnstormed the media, making the case that the only way to cut the deficit is to severely scale back social safety-net programs -- Medicare, Medicaid, and Social Security -- which would disproportionately impact the poor and the elderly.
As part of their push, they are advocating a "territorial tax system" that would exempt their companies' foreign profits from taxation, netting them about $134 billion in tax savings, according to a new report from the Institute for Policy Studies titled "The CEO Campaign to ‘Fix’ the Debt: A Trojan Horse for Massive Corporate Tax Breaks" -- money that could help pay off the federal budget deficit.

Yet the CEOs are not offering to forgo federal money or pay a higher tax rate, on their personal income or corporate profits. Instead, council recommendations include cutting "entitlement" programs, as well as what they call "low-priority spending."

Many of the companies recommending austerity would be out of business without the heavy federal support they get, including Goldman Sachs and JPMorgan Chase, which both received billions in direct bailout cash, plus billions more indirectly through AIG and other companies taxpayers rescued.


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your title is a friggin lie, they through her over a cliff numb-nuts.

 

[Trajan]

.

"...and that government of the people, by the people, for the people..." ~ A. Lincoln



Corp's/CEO's: throw granny under the bus to keep corp. welfare, tax loopholes for the takers - IOW's, austerity for the middle class, another mega-money account in the Caymans for CEO's.



CEO Council Demands Cuts To Poor, Elderly While Reaping Billions In Government Contracts, Tax Breaks


11/25/2012
WASHINGTON -- The corporate CEOs who have made a high-profile foray into deficit negotiations have themselves been substantially responsible for the size of the deficit they now want closed.

The companies represented by executives working with the Campaign To Fix The Debt have received trillions in federal war contracts, subsidies and bailouts, as well as specialized tax breaks and loopholes that virtually eliminate the companies' tax bills.

The CEOs are part of a campaign run by the Peter Peterson-backed Center for a Responsible Federal Budget, which plans to spend at least $30 million pushing for a deficit reduction deal in the lame-duck session and beyond.

During the past few days, CEOs belonging to what the campaign calls its CEO Fiscal Leadership Council -- most visibly, Goldman Sachs' Lloyd Blankfein and Honeywell's David Cote -- have barnstormed the media, making the case that the only way to cut the deficit is to severely scale back social safety-net programs -- Medicare, Medicaid, and Social Security -- which would disproportionately impact the poor and the elderly.
As part of their push, they are advocating a "territorial tax system" that would exempt their companies' foreign profits from taxation, netting them about $134 billion in tax savings, according to a new report from the Institute for Policy Studies titled "The CEO Campaign to ‘Fix’ the Debt: A Trojan Horse for Massive Corporate Tax Breaks" -- money that could help pay off the federal budget deficit.

Yet the CEOs are not offering to forgo federal money or pay a higher tax rate, on their personal income or corporate profits. Instead, council recommendations include cutting "entitlement" programs, as well as what they call "low-priority spending."

Many of the companies recommending austerity would be out of business without the heavy federal support they get, including Goldman Sachs and JPMorgan Chase, which both received billions in direct bailout cash, plus billions more indirectly through AIG and other companies taxpayers rescued.


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your title is a friggin lie, they through her over a cliff numb-nuts.

oh wait, thats republicans, hold up, all ceos are reps so, carry on...

 

[Rshermr]

It is not possible for the 1% to support the 99% in cradle to grave entitlements.

Democrats always point to the GOP wanting to eliminate programs that the elderly paid into all their lives. It's not true. No one wants to eliminate these programs. But it plays better than taking that 6 foot 200 pound ex-con off disability.

Oh, yes it is. If the trend continues, the 1% will have a heavy majority of the income and wealth in this country. So, to look at an extreme, would an two economies be the same, if the GNP of both were 20T bucks, BUT one economy had a distribution where 1% had 99% of the wealth and income, while the other had a distribution where the highest 1% had 15% of the wealth and income. Get the idea?? If productivity increases go heavily to the rich, and the rest get the crumbs, there will be no option.

 

[Rshermr]

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"...and that government of the people, by the people, for the people..." ~ A. Lincoln



Corp's/CEO's: throw granny under the bus to keep corp. welfare, tax loopholes for the takers - IOW's, austerity for the middle class, another mega-money account in the Caymans for CEO's.



CEO Council Demands Cuts To Poor, Elderly While Reaping Billions In Government Contracts, Tax Breaks


11/25/2012
WASHINGTON -- The corporate CEOs who have made a high-profile foray into deficit negotiations have themselves been substantially responsible for the size of the deficit they now want closed.

The companies represented by executives working with the Campaign To Fix The Debt have received trillions in federal war contracts, subsidies and bailouts, as well as specialized tax breaks and loopholes that virtually eliminate the companies' tax bills.

The CEOs are part of a campaign run by the Peter Peterson-backed Center for a Responsible Federal Budget, which plans to spend at least $30 million pushing for a deficit reduction deal in the lame-duck session and beyond.

During the past few days, CEOs belonging to what the campaign calls its CEO Fiscal Leadership Council -- most visibly, Goldman Sachs' Lloyd Blankfein and Honeywell's David Cote -- have barnstormed the media, making the case that the only way to cut the deficit is to severely scale back social safety-net programs -- Medicare, Medicaid, and Social Security -- which would disproportionately impact the poor and the elderly.
As part of their push, they are advocating a "territorial tax system" that would exempt their companies' foreign profits from taxation, netting them about $134 billion in tax savings, according to a new report from the Institute for Policy Studies titled "The CEO Campaign to ‘Fix’ the Debt: A Trojan Horse for Massive Corporate Tax Breaks" -- money that could help pay off the federal budget deficit.

Yet the CEOs are not offering to forgo federal money or pay a higher tax rate, on their personal income or corporate profits. Instead, council recommendations include cutting "entitlement" programs, as well as what they call "low-priority spending."

Many of the companies recommending austerity would be out of business without the heavy federal support they get, including Goldman Sachs and JPMorgan Chase, which both received billions in direct bailout cash, plus billions more indirectly through AIG and other companies taxpayers rescued.


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this brings the cons out in droves. cons hate anyone who says the ultra wealthy may have a group who are gaming the economy at our expense and to their enrichment. they are a small minority in the real world, but they are a definite majority on this board. Delusional, but a majority. And they are ignorant. And they hate. And they love to hate. And they pat each other on the back and exist in group think. Poor delusional cons.
But, you will see no posts with evidence refuting what you have just said, and supported with impartial sources. Because, you see, they are cons. And cons just post dogma.

 

[eflatminor]

It is not possible for the 1% to support the 99% in cradle to grave entitlements.

Democrats always point to the GOP wanting to eliminate programs that the elderly paid into all their lives. It's not true. No one wants to eliminate these programs. But it plays better than taking that 6 foot 200 pound ex-con off disability.

Oh, yes it is. If the trend continues, the 1% will have a heavy majority of the income and wealth in this country.

Oh my, another one that thinks wealth is a finite pile of cash from which we all must draw. If one guy makes more income, it doesn't mean another must make less! It's just amazing to me that you think if a fat man is standing next to a skinny man, the fat man MUST have taken food from the skinny man. It's ridiculous.

Look, wealth can be created or destroyed. It is not finite. If you think the majority of Americans need to make more money, great, I agree! However, in order for them to do so, we need not take it from those that have made more money. In fact, given that wealthy folks are major drivers of jobs and economic growth, that would be the worst thing you can do for normal income earners.

So the question is, do you really want to see the 99% earn more wealth or do you just want to see the 1% have more taken away from them? One is motivated by capitalism and free markets, the other by envy. I think the choice is clear.

 

[kiwiman127]

“Yet the CEOs are not offering to forgo federal money

what Federal money??? The liberal forgot to say????????

or pay a higher tax rate on their personal income

top 1% pay 40% of all federal income tax. They pay too much, not too little

or corporate profits,”

American corporate taxes are the highest in the world and must be lowered to make us competitive.

See why we are positive a liberal will be slow, so very very slow??

Yes, it is a fact that the US has the highest corporate tax rates in the world. It's also a fact that the US tax system is filled with corporate loopholes like no other country. The result is:

Many companies pay no income taxes, study finds
Study: Many corporations pay no income taxes - Nov. 3, 2011

 

[eflatminor]

“Yet the CEOs are not offering to forgo federal money

what Federal money??? The liberal forgot to say????????




top 1% pay 40% of all federal income tax. They pay too much, not too little

or corporate profits,”

American corporate taxes are the highest in the world and must be lowered to make us competitive.

See why we are positive a liberal will be slow, so very very slow??

Yes, it is a fact that the US has the highest corporate tax rates in the world. It's also a fact that the US tax system is filled with corporate loopholes like no other country. The result is:

Many companies pay no income taxes, study finds
Study: Many corporations pay no income taxes - Nov. 3, 2011

That was Romney's idea wasn't it? Get rid of the loopholes. One of the few good ideas he had, IMO.

 

[Care4all]

It is a fact we have a high corporate tax rate,

HOWEVER we are in the 10 LOWEST, EFFECTIVE corporate tax rates in the world.

it needs reform....simplifying with fewer loopholes.

 

[eflatminor]

It is a fact we have a high corporate tax rate,

HOWEVER we are in the 10 LOWEST, EFFECTIVE corporate tax rates in the world.

it needs reform....simplifying with fewer loopholes.

I would say NO loopholes. Government has no business trying to pick market winners and losers through the tax code. One flat, internationally competitive rate will do...and would probably result in more revenue to the government coffers.

 

[PredFan]

Does the OP realize that compared to the financial obligations the government has in the form of SS, Medicare and Medicaid that corporate "welfare" is like spitting in the ocean?

Yeah probably not.

 

[EdwardBaiamonte]

It is a fact we have a high corporate tax rate,

HOWEVER we are in the 10 LOWEST, EFFECTIVE corporate tax rates in the world.

1) you must be very special in that you care for all? Are you superior, a morality bigot??

2) GE has 1000 tax professionals and its tax return weighs 374 pounds. This costs a fortune and forces GE to move businesses around the world to avoid the taxes. It make them very very inefficient as they do things for idiotic liberal reasons than for business reasons.

3) tax should be eliminated as it is a cost like any cost that is passed on to consumers. We have it only because liberals lack the IQ to know that corporations are tax collectors, not tax payers.