Next Bailout to Watch: The GOP and the Richest of the Rich

[Emit]

Next Bailout to Watch: The GOP and the Richest of the Rich
2 Sep 2010 by sallykohn

The Institute for Policy Studies just released it’s 17th annual study of CEO compensation revealing that the CEOs of the 50 corporations that cut the most jobs over the last two years received average bonuses higher than those paid to CEOs of the largest 500 businesses in America. You follow that? The CEOs who cut jobs got the largest rewards.

What’s worse, the Institute for Policy Studies found that 36 of those 50 CEOs cut jobs at a time when their corporations were reporting record profits. They cut jobs, helped sink the economy and put even more money in their own pockets. And now Republicans (and, unfortunately, some conservative Democrats) want to reward these richest of the rich by giving them giant tax cuts?!?

Bailing out the super rich won’t help grow the economy. It will only further grow the monstrous gap between unemployed and struggling average American workers and the elite ranks of greedy CEOs — which is part of the problem in the first place.

~snip~

In the Constitution, our Founding Fathers gave the federal government the ability to “lay and collect taxes, duties, imposts, and excises, pay the Debts and provide for the common Defense and general Welfare of the United States.” That “general Welfare” includes distributing resources more fairly and creating equal opportunity for all. These are core American values. We recognize that the children of Donald Trump inherently start off their lives several steps ahead of your kids or mine — let alone the child of a single, young mother who doesn’t have a job or a place to live. What makes America a great nation is not that the rich get richer but that we create conditions so those who start below have a chance at catching up and even getting rich themselves. Our national pride comes from what everyday Americans are able to achieve here, not from multiplying the largess of already-successful billionaires.

But conservatives have corrupted the idea of fair distribution not just to oppose providing vital supports for poor and working class families but to endorse policies that actually re-distribute money from average Americans to the very, very rich. Make no mistake about it, when Republicans call for extending Bush-era tax breaks on the richest of the rich, that means re-distributing OUR government funds away from unemployment benefits, veterans services, food stamp programs and public schools.

~snip~

http://movementvision.org/rants-polemics/next-bailout-to-watch-the-gop-and-the-richest-of-the-rich/

[L0oniX]

1. K & R

[Bryn]

2. Thanks for the post

K&R

[midnight]

3. Republicans/conservatives have corrupted fairness via distributing money

away from poor to wealthy.... Yep that sounds like a big big entitlement program for the wealthy.