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Sun Jan 6, 2013, 08:38 PM

 

Cut Corporate Welfare, Not the Safety Net

If your boat is sinking, do you blame the bird sitting on the railing, or on the gallons of water spewing from a gaping hole in the floor?

In Congress' latest "fiscal cliff" deal that supposedly had to be passed in order to avoid economic calamity, we spent $30 billion on extending unemployment benefits for a year, and $205 billion on corporate tax breaks, subsidies and excessive tax loopholes. Most of these Christmas gifts for corporate America are benefiting major, multi-billion-dollar corporations that haven't paid a dime of US income taxes in years, like GE and Boeing. In other words, taxpayers spent six times more on giving free money to companies making record profits than we did to making sure the people who were laid off by these corporations can still feed their families. $205 billion in corporate goodies was okay with Speaker Boehner, but $60 billion in Hurricane Sandy relief apparently wasn't.

One of the most egregious giveaways included in the New Year's Eve fiscal cliff deal negotiated between Joe Biden and Mitch McConnell is an extension of a loophole that allows corporations to book US profits in overseas, tax-free bank accounts. Today, US companies have up to $2 trillion offshored thanks to loopholes like the one in this deal, at the same time Congress is talking about raising the Medicare eligibility age to avoid a fiscal meltdown. Instead of making us give up the pensions and healthcare that we paid for, why not hold rich companies to the same standards as everyone else when it comes to paying taxes?
http://readersupportednews.org/opinion2/279-82/15413-cut-corporate-welfare-not-the-safety-net

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Arrow 22 replies Author Time Post
Reply Cut Corporate Welfare, Not the Safety Net (Original post)
No Compromise Jan 2013 OP
abelenkpe Jan 2013 #1
liberal N proud Jan 2013 #2
hollysmom Jan 2013 #3
bluerum Jan 2013 #4
Lordquinton Jan 2013 #5
Angry Dragon Jan 2013 #6
Initech Jan 2013 #7
ReRe Jan 2013 #8
JDPriestly Jan 2013 #9
Marie Marie Jan 2013 #10
Tuesday Afternoon Jan 2013 #11
Thinkingabout Jan 2013 #12
DogPawsBiscuitsNGrav Jan 2013 #14
Thinkingabout Jan 2013 #16
caveat_imperator Jan 2013 #13
AverageJoe90 Jan 2013 #15
TheKentuckian Jan 2013 #19
No Compromise Jan 2013 #17
indepat Jan 2013 #18
indepat Jan 2013 #20
warrprayer Jan 2013 #21
guardian Jan 2013 #22

Response to No Compromise (Original post)

Sun Jan 6, 2013, 08:41 PM

1. K&R nt

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Response to No Compromise (Original post)

Sun Jan 6, 2013, 08:50 PM

2. That they only want to cut SS and Medicare, shows who they really work for.

Its not the people.

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Response to No Compromise (Original post)

Sun Jan 6, 2013, 09:02 PM

3. make room for me in that boat,

the savings would be greater as well.

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Response to No Compromise (Original post)

Sun Jan 6, 2013, 09:08 PM

4. 100%

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Response to No Compromise (Original post)

Sun Jan 6, 2013, 09:41 PM

5. According to some people

the solution is more water.

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Response to No Compromise (Original post)

Sun Jan 6, 2013, 09:54 PM

6. I think that $2 Trillion is very low

and I agree that corporate welfare should be stopped

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Response to No Compromise (Original post)

Sun Jan 6, 2013, 10:10 PM

7. It's way past time to end all corporate subsidies.

Corporations are steal, er, raking in billions and getting free money from the government. Time to end this.

Hey here's another area the government could make money: churches! Churches with 10,000+ members should be paying taxes. Period.

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Response to No Compromise (Original post)

Sun Jan 6, 2013, 10:18 PM

8. That's right...

K&R

... Cut those Corporate Welfare Queen entitlements. We need to start at the top where they won't be felt, not at the bottom where they would. Oh yeah, and after them, we need to start on the MIC entitlements. Arithmetic! Proceed. To the left. <

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Response to No Compromise (Original post)

Sun Jan 6, 2013, 10:22 PM

9. Thanks. K&R

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Response to No Compromise (Original post)

Sun Jan 6, 2013, 10:26 PM

10. Seems like there is no better time than now to bring back

the Windfall Profits Tax. Remember that? Used to be that corporations and their CEO's were happy to make a healthy profit. No problem with that - but when healthy got replaced with obscene profits, everything changed into the greed we see today. And we are all worse off for it.

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Response to No Compromise (Original post)

Sun Jan 6, 2013, 10:43 PM

11. Fucking A. K&R

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Response to No Compromise (Original post)

Sun Jan 6, 2013, 10:51 PM

12. Let us also add, these corporations who are getting the cuts are not creating lots of jobs.

If they take their corporation off shore are expecting a safe place to do their business without paying towards the defense cost along with local police departments. If a corporation is going to do business in the USA then they need to pay a tax to do so. It should be on their contract amount, let KBR pay taxes.

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Response to Thinkingabout (Reply #12)

Sun Jan 6, 2013, 11:30 PM

14. Your post makes far to much common sense. You don't expect them to tax themselves do you?

 

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Response to DogPawsBiscuitsNGrav (Reply #14)

Sun Jan 6, 2013, 11:38 PM

16. No, they need to pay a tax to do business here, no government contracts until they pay.

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Response to No Compromise (Original post)

Sun Jan 6, 2013, 11:18 PM

13. It's about time for these corporations to practice this "capitalism" they speak so fondly of.

If they succeed they succeed, but if they fail then they must stick to their beliefs and fail on their own.

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Response to No Compromise (Original post)

Sun Jan 6, 2013, 11:32 PM

15. K & R, man.

Though I'd have put it more like this: "If you boat is sinking, do you blame the hole on the bottom of the boat, or your boatmate, who's been working his keister off to keep you afloat, for not 'working fast enough'?"

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Response to AverageJoe90 (Reply #15)

Mon Jan 7, 2013, 01:16 PM

19. Depends on how deliberate the slowness and how many more holes are knocked into the boat in that

slow pace.

The boatmate may be working his keister off but I'm far from convinced the effort has much to do with bailing water.

Can't rule it out, maybe I miss the methodology but it doesn't look too effective to me. I swear water is getting poured in by that bucket and the constant talk of using smaller buckets with holes in them doesn't seem workable either.

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Response to No Compromise (Original post)

Mon Jan 7, 2013, 11:41 AM

17. kick

 

nt

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Response to No Compromise (Original post)

Mon Jan 7, 2013, 01:03 PM

18. It would seem imperative that rich corporations be treated just as a person is treated

by the IRS since corporations have been granted person-hood.

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Response to No Compromise (Original post)

Mon Jan 7, 2013, 01:18 PM

20. In a corporatist government, rich companies will never be held to the same standard

as a person when it comes to paying taxes. The proof of whether or not a government is a corporatist government is found in its works, in particularly in its income tax code, for the proof is always in the pudding.

Edited for context

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Response to No Compromise (Original post)

Mon Jan 7, 2013, 01:22 PM

21. With a second term democratic president

we should not even have to have this discussion!!!!!!

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Response to No Compromise (Original post)

Mon Jan 7, 2013, 02:21 PM

22. K&R nt

 

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