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

Discussion in 'Economy' started by Star, Nov 26, 2012.

  1. Star
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    Star Gold Member

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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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  2. Katzndogz
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    Katzndogz Diamond Member

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    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.
     
  3. eflatminor
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    eflatminor Classical Liberal

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    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!

    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?

    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"?
     
  4. Star
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    Star Gold Member

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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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  5. EdwardBaiamonte
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    EdwardBaiamonte Gold Member

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


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


    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??
     
  6. rdean
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    rdean rddean

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

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    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!!
     
  8. eflatminor
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    eflatminor Classical Liberal

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    It's also pretty much a Ponzi Scheme...except when central planners do it of course...:eusa_eh:
     
  9. EdwardBaiamonte
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    EdwardBaiamonte Gold Member

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    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.
     
  10. Trajan
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    Trajan conscientia mille testes

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

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