Tuesday, May 25, 2010

Profits Over People

Looks like the GOP is doing it again, putting PROFIT over PEOPLE.

As reported by ThinkProgress, Congress is working on a bill to extend unemployment benefits and health insurance subsidies for laid-off workers. The cost of the bill will be paid for, in part, by closing of a loophole that allow corporations to claim U.S. tax credits on profits earned overseas.

The cost? About $1.5 billion per year from the entire multinational corporation community. According to the National Employment Law Project, 1.2 million Americans who are currently eligible for extended benefits will lose them in June if Congress doesn’t act.

To put $1.5 billion per year from the ENTIRE multinational corporation community, BP (you know, the multinational corporation responsible for the Gulf oil spill) earned over $5 billion dollars in the first QUARTER of 2010. Hell, they could have paid the annual cost for all multinational corporations with ONE MONTHS profits.

According to Sen. Judd Gregg (R-NH) Congress should stop extending benefits “right now”.

Way to go, GOP. Way to put corporate profits ahead of people...again!

3 comments:

  1. Every tax loop hole should be closed that benefits these mega corporations and the money put to better use than giving CEOs bonuses. If unemployment benefits are extended it will be an 11th hour deal with the corporations not contributing a dime.

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  2. We have the best government that Corporate America could buy.

    Lets all just admit it.

    Our government is dysfunctional.

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  3. No surprise. "Let them eat cake."

    ReplyDelete