It's corporate welfare. They are milking this country dry. Turning our labor force into a third world country and they call themselves patriotic.
I was watching 60 minutes the other night, which is what really inspired this blog post. They were doing a segment on corporations who are sending their profits overseas to avoid paying our taxes and supporting our country
One CEO who would talk to us was Chambers. Cisco is the giant high tech company headquartered in San Jose, Calif. He says our tax rate is insane. It's forcing companies into these maneuvers, especially when many other industrialized countries including Canada are busy lowering their tax rates in order to lure our companies and our jobs away.
"Every other government in the world has realized that the U.S. has it wrong. They're saying, 'I'm going to have lower taxes, period.' That's what you see all across Western Europe, that's what you see in Asia in the developed countries," Chambers said.
When asked if he's judged as a CEO on issues like taxes, Chambers said, "Absolutely."
He's been expanding Cisco overseas because of growing demand abroad, but also to lower the company's taxes: their average rate over the last three years was just 20 percent.
Economist Martin Sullivan says it's standard operating procedure for companies like Cisco. "U.S. multinationals are shifting their research facilities, shifting their manufacturing facilities, and shifting some regional headquarters into Switzerland and into Ireland. And those are massive numbers of jobs," he told Stahl.
Of course I can see why Corporate America would align itself with the Swiss. Study a little Swiss history and you see why they were able to do so well, primarily they were able to profit from World War II and take advantage of their good fortune after the war. Although the Swiss remained neutral they had no problem producing arms for Nazi Germany and because their country was spared the ravages of that war they were able to recover much faster than the rest of Europe. It wasn't until just recently that much of the plundered wealth acquired by the Third Reich from the extermination of the Jews, was repatriated from Swiss banks. The Swiss attitude of looking out for themselves and their own best interests fits right in with Corporate speak.
They claim it's because of the arcane outmoded tax system we have and I will have to agree with them. If we are letting corporations evade their tax liabilities then our tax code does need to be revised, so that we all pay our fair share.
But then it's the stock holders. Those faceless contributors who demand their profits. Well shame on them! If they are demanding their profits when all else are hurting then they are no better than the French Monarchy before their Revolution. Making a profit is fine, it's how much and what you do with it once you get it.
Our country is in crisis! We hear daily how our deficit is bankrupting us and the attitudes of the mega wealthy and corporate America are doing nothing to help. All they can do is sit on their Trillions and cry that they are being taken advantage of. The madness lies in those idiots who don't have a pot to piss in who defend them things like" why are you jealous of the rich?" "take responsibility for yourself and don't worry about the wealthy". People, that atitude plays right into their hands. They love it, not only are they driving us all to the poor house but the very people they are robbing are driving the bus.
Republicans like to point to President Kennedy's tax cuts as an example but what they don't tell you is that the tax rate then was 91% on income over $400,000. but then as now those high rates didn't generate the revenue because of tax loopholes. Today it's 35% and corporate America is making money hand over fist while not only not paying any taxes but in fact getting tax breaks and incentives. Most importantly without creating any jobs. You know what that means? That means they are "Too Big Too Fail!" and they don't need us any longer. They can make their profits without the American worker. Thats why they feel embolden to make the final push to do away with unions, because they can. People thats what Teddy Roosevelt warned against, thats why we have the Free Loader (Estate) tax.
Big money and corporate America tried to create a Fascist America shortly after FDR took office. They tried to hire General Smedly Butler to lead a 500,000 man army to protect their fortunes from the redistribution ideas of Roosevelt. You only have to research the good General to realize what they did and in so doing you have to come to the realization that thats what they are doing today. Had General Butler not turned them in they would have overthrown our country. The difference between then and now? The Internet!
Folks this was a smack in the face. This is extortion! This man said on prime time, on a national network, that they are taking their profits over seas because they don't want to pay their fair share and they are blaming us for it. This is the insanity of Corporate Speak because there are people who don't understand whats going on, that will side with them and condemn the very government that is there to protect them.
We all need to learn how to interpret corporate speak!
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