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Wed Nov 21, 2012, 08:02 PM

Macy’s CEO to American People: Drop Dead [View all]

As a Thanksgiving treat, Terry Lundgren wants to gut Medicare, Medicaid and Social Security.

Macy’s is a powerful symbol of Thanksgiving, with its festive parade and freakishly large floats. But Macy’s CEO Terry Lundgren is part of a group of greedy, unpatriotic CEOs who would like to seize this moment of American hardship and tear the rug out from under hard-working families. Moms, dads, grandparents, kids—he’d like to take a little something from each of you. Especially if you're poor: he’d really like to get into your purses.

Lundgren and a coalition of other big-time CEOs are lobbying Congress to cut Medicare, Medicaid and Social Security benefits so that they can enjoy tax breaks. Obviously, Lundgren did not take Econ 101, which would have demonstrated to him that reaching into the pockets of people will leave them without enough dollars to buy your products. It’s very simple, Mr. Lundgren. Your job and your stores are supported by the spending power of the American consumer. Robbing that consumer by hacking away at hard-earned retirements and healthcare is not going to help your bottom line.
http://www.alternet.org/economy/macys-ceo-american-people-drop-dead

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sasha031 Nov 2012 OP
putitinD Nov 2012 #1
xtraxritical Nov 2012 #28
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