Wednesday, March 30, 2011

What Happens When Corporations Run The Government?

Here is what happens.  These are a couple of quotes from an email by

According to The New York Times, last year General Electric (GE) made over $14.2 billion in profit, but paid NO federal tax.1 None.
In fact, thanks to the millions GE spent lobbying Congress, we American taxpayers actually owed GE $3.2 billion in tax credits.2
Now GE is slashing health benefits and retirement benefits for new employees among non-union workers and is expected to push unions to accept similar cutbacks3, while its CEO, Jeff Immelt, gets a 100% pay raise.4
What's worse? Immelt now sits as chair of the President's Council on Jobs and Competitiveness (Jobs Council), representing corporate America to the President on matters like job creation and corporate taxation. That's a slap in the face to every hardworking, tax-paying American—especially GE employees.

One of the chief ways GE avoids paying taxes is by shifting a large portion of its profits overseas, and jobs follow.5 Now GE's CEO is the person charged with helping the President create jobs here in America. That's just perverse.
And if the American people got back just the $3.2 billion GE took in tax credits, it would pay for the programs that House Republicans want to gut, like community health centers providing care to over three million low-income people6 and food and health care assistance to pregnant women, new moms, and children.7 We'd even have enough left to save the jobs of over 21,000 teachers across the country.8
The American deficit is being weighed down by hundreds of billions spent on bailing out major corporations. The tea party's plan is to make working families pay through devastating cuts, instead of making corporations with billions in profits pay their fair share.
But if we can hold Immelt accountable for GE's corporate irresponsibility, the nation will turn its attention to the injustice of corporate tax evasion in the face of the Republicans' budget-slashing attack on working families.
 The foxes have taken over the hen house.


  1. Corporations are the worst-ever invention made by man. They are a perversion of freedom and the antithesis of market responsibility. THEY MUST BE DESTROYED!

  2. They are like the super-computer that scientist create and then it takes over the world. Corporations were created by mankind and now are trying to control mankind.

    The ultimate class war -- man against man's creation.

  3. No shit men! And they're mean bastards too.

  4. I think I got it! Corporations are The Beast! (ya know, biblical term and all...)

  5. What?!? Sue. You mean man created The Beast?!? I suppose next you are going to say man created god?!? Watch your tongue, woman!

  6. Let's keep a little perspective: individual and family owned businesses can be every bit as regressive and ornery as corporations.

    "Immelt now sits as chair of the President's Council on Jobs and Competitiveness (Jobs Council), representing corporate America to the President on matters like job creation and corporate taxation."

    Yes, Obama sure knows how to pick 'em. About as really swell a choice as making Larry Summers his No. 1 economic guru.

    Obama's string of disappointing appointments provide more reasons his stock has gone down with me to where he's now on "will have to do until someone better can be elected" status. I'm sorry to have to say that, but he's earned it the old-fashioned way.

  7. Thanks for update. i not heard this news. good job. keep it up

  8. You beat me to it I had a post coming up in two days with a little different take...seen from the point of view of ordinary Americans vs municipal, state and federal governments that are strapped for cash.
    We have to keep in mind first and foremost that corporations are not people unlike what the Supreme Court recently determined. Corporations have no intellect nor compassion and answer only to greed and then, greed has no conscience.

    By the way, I have listed your blog among my favorites

  9. Thanks, raulito. And please, continue with your post. Mine was just a "paste and click" quickly.

  10. As accurate and foretelling as Lincoln's quote was, it was a huge understatement.

  11. This is flat out immoral. Hopefully Obama will be re-elected and he can then appoint one or two more SC judges, tipping the balance of the court away from the radical right. Then they can overturn Citizens United.

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