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Tuesday, May 25, 2010

Our government isn't even run by corporations, it's run by the guys who run them...for their own benefit
Posted by Jill | 5:58 AM
It's not about jobs at all, unless the jobs you're talking about are maid, nanny, gardener, chauffeur, and pool boy. It's about holding the well-being of an entire nation hostage to PERSONAL GREED. If children die for lack of health care, it's better than a CEO having to drive one less Ferrari. If the education system has to be dismantled, they'll hire in Singapore or Ukraine or Indonesia or Malaysia, where they can hire 8-year-olds to work for a dollar a day. That's better than having to wait a year to buy that 34,000 square foot house in St. Barth's.

Krugman (this is yesterday, but I'm a bit behind):
So far this year, according to The Washington Post, 63 percent of spending by banks’ corporate PACs has gone to Republicans, up from 53 percent last year. Securities and investment firms, traditionally Democratic-leaning, are now giving more money to Republicans. And oil and gas companies, always Republican-leaning, have gone all out, bestowing 76 percent of their largess on the G.O.P.

These are extraordinary numbers given the normal tendency of corporate money to flow to the party in power. Corporate America, however, really, truly hates the current administration. Wall Street, for example, is in “a state of bitter, seething, hysterical fury” toward the president, writes John Heilemann of New York magazine. What’s going on?

One answer is taxes — not so much on corporations themselves as on the people who run them. The Obama administration plans to raise tax rates on upper brackets back to Clinton-era levels. Furthermore, health reform will in part be paid for with surtaxes on high-income individuals. All this will amount to a significant financial hit to C.E.O.’s, investment bankers and other masters of the universe.

Now, don’t cry for these people: they’ll still be doing extremely well, and by and large they’ll be paying little more as a percentage of their income than they did in the 1990s. Yet the fact that the tax increases they’re facing are reasonable doesn’t stop them from being very, very angry.

This isn't even an question of the "Rich people create jobs" mantra so beloved by teabaggers who have watched these very same guys send their own jobs overseas and yet continue to defend their right to do so. It isn't even about the health of corporations and the jobs of people they employ. It's PERSONAL GREED. These guys only even care about the health of the corporations to the extent said corporations serve THEM as INDIVIDUALS.

And that is indefensible.


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Blogger Daniel Becker said...
Yup, though it is beyond greed. The upper crust of the corp (CEO's Board, etc) no longer consider themselves as employees of the corporation, which is what they are. Instead, just listen to the talk and you will realize that they talk about the corporation they are employed at as if it is their own business. They talk as if they personally own the entire business and any other claim on that business is by the good graces of them. This is why even stock holders have little power as "owners". I laugh everytime I hear stock holders being referred to as owners.

Anonymous Anonymous said...
Greed can be unrewarded. Americans can boycott any product or service provider. If the entanglement is through employment, as with people who are lucky enough to have job related health insurance or retirement accounts- we should all just remember the strategies of the South African Divestment Struggle of the 1980s.

Anonymous Anonymous said...
"Corporate America, however, really, truly hates the current administration."
What a bunch of ungrateful bastards.

Blogger permial said...
They believe in the prophesy of Saint Ronnie, you know, the trickle down theory. It's worked wonderfully! Don't you think?