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Sucks not to be part of the corporatocracy

Home Forums DISCUSS Current News & Events Wisconson – sign of more to come? Sucks not to be part of the corporatocracy

  • Wed, Mar 30, 2011 - 03:33am

    #282

    xraymike79

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    Sucks not to be part of the corporatocracy

[quote=Useyerloaf]

[quote=dshields]

[quote=safewrite]

Okay, back to Wisconsin.

Here’s more new from Reuters. The WI senate republicans basically said, “In your face!”

“(Reuters) – Wisconsin Republicans said on Friday a measure stripping state public employees of most collective bargaining rights was now in effect after it was published by a legislative agency despite a judge’s order against publication.

The move looked certain to stir fresh controversy over the legislation, which in recent weeks sparked huge demonstrations and ignited a national struggle over efforts by several budget-strapped state governments to rein in union power.”

Read the article. It was done on a technicality, but then so was the restraining order. WHAT I SEE COMING is a test of the “separation of powers.” The legislative branch just challenged the judicial branch of our government.

I’d say that was long overdue.

[/quote]

Yes, yes, and yes.  This is all pretty simple.  There is not enough money to pay for the gov services we have become accustomed to having.  The gov has to be cut at all level.  The different local, state, and fed govs will take different paths and use different methods but the end result is cutting.  Big cuts.  Costs have to be brought in line with revenue.  It is just that simply.  While I politically disagree with unions in the gov, it does not really make any difference.  It just makes for some interesting side shows because the cuts have to be and will made – union or no union.

A legal show down will be interesting.  But, it will not make any difference.  The cuts are coming no matter what.

 

[/quote]

The money is there, it’s just not being paid by big corporations:

the 10 worst corporate income tax avoiders.

 

 1)      Exxon Mobil made $19 billion in profits in 2009.  Exxon not only paid no federal income taxes, it actually received a $156 million rebate from the IRS, according to its SEC filings.

 2)      Bank of America received a $1.9 billion tax refund from the IRS last year, although it made $4.4 billion in profits and received a bailout from the Federal Reserve and the Treasury Department of nearly $1 trillion.

 3)      Over the past five years, while General Electric made $26 billion in profits in the United States, it received a $4.1 billion refund from the IRS.

 4)      Chevron received a $19 million refund from the IRS last year after it made $10 billion in profits in 2009.

 5)      Boeing, which received a $30 billion contract from the Pentagon to build 179 airborne tankers, got a $124 million refund from the IRS last year.

 6)      Valero Energy, the 25th largest company in America with $68 billion in sales last year received a $157 million tax refund check from the IRS and, over the past three years, it received a $134 million tax break from the oil and gas manufacturing tax deduction.

 7)      Goldman Sachs in 2008 only paid 1.1 percent of its income in taxes even though it earned a profit of $2.3 billion and received an almost $800 billion from the Federal Reserve and U.S. Treasury Department.

 8)      Citigroup last year made more than $4 billion in profits but paid no federal income taxes. It received a $2.5 trillion bailout from the Federal Reserve and U.S. Treasury.

 9)      ConocoPhillips, the fifth largest oil company in the United States, made $16 billion in profits from 2007 through 2009, but received $451 million in tax breaks through the oil and gas manufacturing deduction.

 10)  Over the past five years, Carnival Cruise Lines made more than $11 billion in profits, but its federal income tax rate during those years was just 1.1 percent.

[/quote]

Useyerloaf,

What they mean is that there is not enough money to maintain social services for the general public while keeping the entrenched practice of corporate tax dodging in place. Someone’s gotta pay and it won’t be the crony capitalist corporations, so it’s gotta be the lowly minions. Sucks not to be part of the corporatocracy. And if you question this then you must be anti-capitalist, but realy you’re anti-crony capitalist.