{"id":6292,"date":"2011-11-05T00:02:40","date_gmt":"2011-11-05T07:02:40","guid":{"rendered":"http:\/\/www.politicsplus.org\/blog\/2011\/11\/05\/a-stacked-deck-for-giant-corporations\/"},"modified":"2011-11-05T00:02:40","modified_gmt":"2011-11-05T07:02:40","slug":"a-stacked-deck-for-giant-corporations","status":"publish","type":"post","link":"https:\/\/www.politicsplus.org\/blog\/2011\/11\/05\/a-stacked-deck-for-giant-corporations\/","title":{"rendered":"A Stacked Deck for Giant Corporations"},"content":{"rendered":"

To the delight of giant corporations these days, the deck is stacked in their favor, and the Republican Party is doing everything they can to stack the deck even further.  Republicans want to lower their taxes, protect their subsidies, and allow them to run hog wild, unrestrained by regulations to protect consumers from their predation.  For the rest of us, Republicans are sabotaging the economy.  Lets see how stacked the deck is and how Republicans are hurting the 99%.<\/font><\/p>\n

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\"5StackedDeck\"If you needed evidence that corporate tax rates are far too low and large corporations receive far too many tax benefits, look no further than the new study just published<\/a><\/font> by Citizens for Tax Justice. <\/font><\/p>\n

CTJ undertook a study of the 280 largest companies in the United States to see what they actually paid (or didn’t pay) in taxes. From their press release:<\/font><\/p>\n

\u201cThese 280 corporations received a total of nearly $224 billion in tax subsidies<\/strong><\/span>,\u201d said Robert McIntyre, Director at Citizens for Tax Justice and the report\u2019s lead author. \u201cThis is wasted money that could have gone to protect Medicare, create jobs and cut the deficit.\u201d<\/font><\/p>\n

30 Companies average less than zero tax bill in the last three Years, 78 had at least one no-tax year.<\/font><\/p>\n

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.<\/strong><\/font> <\/font><\/p>\n

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.<\/font><\/p>\n

That $224 billion number is really significant. If we were to extrapolate that into a ten-year number to compare with CBO analyses of various revenue proposals, it would be an expenditure of about $750 billion over a ten-year period. Imagine that. We wouldn’t have to worry about Medicare cuts or deep cuts to discretionary spending if those tax preferences were rolled back\u2026 [emphasis original<\/em>]<\/font><\/p>\n<\/blockquote>\n

Inserted from <Crooks and Liars<\/a>><\/p>\n

I encourage you to click through to the rest of this story.<\/font><\/p>\n

At the same time Republicans are sabotaging our economy, both by obstructing demand stimulus on the national level and by forcing our government workers, teachers, police and firefighters into the ranks of the unemployed, thereby shedding public sector jobs to offset private sector job growth. Ed Schultz exposes this hypocrisy with Robert Reich.<\/font><\/p>\n

<\/embed><\/object><\/font><\/p>\n

Visit msnbc.com for breaking news<\/a>, world news<\/a>, and news about the economy<\/a><\/p>\n

That chart Ed used to show how Republicans are gutting public sector jobs is so important that I found it for you to reference.  Think how much better off we\u2019d be if Republican Governors and state legislatures not fired these important people to give more money to millionaires, billionaires and corporate criminals, like the Koch brothers.<\/font><\/p>\n

\"5pubprivtrend\"<\/a><\/font><\/p>\n

Every Republican in office is one Republican too many!<\/strong><\/font><\/p>\n","protected":false},"excerpt":{"rendered":"

To the delight of giant corporations these days, the deck is stacked in their favor, and the Republican Party is doing everything they can to stack the deck even further.  Republicans want to lower their taxes, protect their subsidies, and allow them to run hog wild, unrestrained by regulations to protect consumers from their predation.  […]<\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":["post-6292","post","type-post","status-publish","format-standard","hentry","category-politics","category-5-id","post-seq-1","post-parity-odd","meta-position-corners","fix"],"_links":{"self":[{"href":"https:\/\/www.politicsplus.org\/blog\/wp-json\/wp\/v2\/posts\/6292","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.politicsplus.org\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.politicsplus.org\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.politicsplus.org\/blog\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.politicsplus.org\/blog\/wp-json\/wp\/v2\/comments?post=6292"}],"version-history":[{"count":0,"href":"https:\/\/www.politicsplus.org\/blog\/wp-json\/wp\/v2\/posts\/6292\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.politicsplus.org\/blog\/wp-json\/wp\/v2\/media?parent=6292"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.politicsplus.org\/blog\/wp-json\/wp\/v2\/categories?post=6292"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.politicsplus.org\/blog\/wp-json\/wp\/v2\/tags?post=6292"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}