Submitted by: Mike Spindell, guest blogger
Sometimes a story comes around that writes itself and merely needs highlighting of certain facts to make its points. This link below will provide concrete data on why this country has become a corrupted corporatist state, along with why the federal budget deficit is so high. Its title is “For Hire: Lobbyists or the 99%? How Corporations Pay More for Lobbyists Than in Taxes”
What this document clearly shows, with highly readable charts is that 30 of the top US Corporations not only pay more for lobbying than in taxes, but in fact that they receive huge tax credits, although being highly profitable. Over a three year period 2008-2010 these companies had combined profits of $163.691 billion, received tax credits of $10.602 billion and spent $475.67 million on lobbying. Only one of these companies, FedEx, actually paid taxes. They paid $37 million in taxes, on a profit of $4.247 billion and spent $50.81 million for lobbying. As you might guess the most glaring example was General Electric whose profits were $10.460 billion, received tax credits of $4.737 billion and who spent $84.35 million in lobbying.
I could certainly provide you with commentary on this report, but the starkly written manner of the report and the easily read charts do a far better job of explanation, than would my rhetoric. The next time someone comments on the “theft” that is taxes and the need to defend the 1% and their corporations from government intrusion show them this. If they defend the inequity shown here then you will know they are either part of the 1%, brain-washed or brain dead. It isn’t of course that many of us haven’t known the state of things, or these facts, we have discussed them here repeatedly. Nevertheless, each time the message of the destruction of our Constitution, our America and our people in the service of greed and ego is shown to me, my blood boils. Please check out the link and share your thoughts.