The GOP and their masters the tea party tell us that if we cut corporate taxes they will create jobs but if we dare to try and raise taxes it will cost jobs. Can you spell “blackmail?”
I have a question. How are we supposed to cut taxes on corporations that pay no tax at all? Are we supposed to give them rebates?
Wait, they do that now. Twenty-five percent of the biggest corporations not only pay no tax, they actually get money back.
How do they do this? They do this by having shell companies offshore that are little more than brass plates on a wall and post office boxes.
The Cayman Islands host more than 19,000 of these tax shelters, which hold $1.4 trillion in untaxable corporate profits.
But The GOP will tell us that these corporations are paying their fair share and anyone who disputes this is labeled a socialist.
As to creating jobs, I guess Bank of America didn’t get the memo. Not only do they pay no tax but they eliminated 30,000 jobs this year. Then they took this money and gave two executives an $11 million severance deal.
I do have to admit that the boys on Wall Street are creating jobs. All the Ferrari and Maserati dealers in New York are hiring extra sales people in anticipation of the boom in sales due to the end-of-year bonuses our friends on Wall Street will be getting.
Can you spell “bailout money?”
While you are listening to the GOP rhetoric on paying your fair share, consider this. The average middle-class American pays more in federal income taxes than GE, Verizon, Boeing, DuPont and Wells Fargo combined.
Don’t say this too loud, though, or you, too, will be labeled a socialist.