You are hereCampaign For America's Future: Op-Ed: With People In Streets, Mubarak Congress Focused On Taking Money Out Of Economy

Campaign For America's Future: Op-Ed: With People In Streets, Mubarak Congress Focused On Taking Money Out Of Economy


-By Dave Johnson

November 4, 2011- This situation of crony government protecting the connected rich while people are in the streets demanding change is more and more reminiscent of Egypt under Mubarak. In the real world tens of thousands are in the streets around the country demanding taxes on the rich and an end to corporate rule, as a new report lists profitable companies that pay no taxes at all. Today's jobs report is not enough to even keep up. But in the Congress Senate Republicans filibuster another jobs bill and the "super committee" is looking at how much to take out of the economy and out of the things We the People do for each other -- in order to keep taxes low for the rich and their giant corporations.

Filibustering Jobs

Yesterday Senate Republicans again filibustered a jobs bill - a plan to hire people to repair our country's infrastructure. This is work that has to be done, and right now millions of people need work. But Republicans filibustered this bill. The corporate-owned mainstream media, however, largely refused to tell the public what is happening, instead blaming "the Senate." The Washington Post headlined, Senate blocks $60 billion infrastructure plan, another part of Obama jobs bill. Politico blamed "both parties," with Both parties block jobs bills. MSNBC: Senate blocks $60B part of Obama jobs plan. CNN: Competing infrastructure spending measures fail in Senate.

So the big-corporate media leads the public to blame "the Senate" and government, providing few clues that tell people where to apply the pressure that makes representative democracy function.

Big Corps Paying No Taxes, Not Just Low Taxes

From Citizens for Tax Justice report: Corporate Taxpayers & Corporate Tax Dodgers, 2008-2010,

280 Most Profitable U.S. Corporations Shelter Half Their Profits from Taxes.

“These 280 corporations received a total of nearly $224 billion in tax subsidies,” said Robert McIntyre, Director at Citizens for Tax Justice and the report’s lead author. “This is wasted money that could have gone to protect Medicare, create jobs and cut the deficit.”

  • 30 Companies average less than zero tax bill in the last three Years, 78 had at least one no-tax year.
  • Financial services received the largest share of all federal tax subsidies over the last three years. More than half the tax subsidies for companies in the study went to four industries: financial services, utilities, telecommunications, and oil, gas & pipelines.
  • U.S. corporations with significant foreign profits paid tax rates to foreign countries that were almost a third higher than they paid to the IRS on their domestic profits.

Who Are "The Markets?"

Who are we talking about, when we talk about "corporate taxes?" Just who do we mean when we talk about "the markets?" See for yourself why the #occupy movement talks about the 1% vs the 99%.

When you hear about corporations and "the markets," think about how that connects to this chart:

FULL STORY HERE:

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