I don’t care which side of the aisle you are on, your age, your party affiliates, or your views. Anyone who wants to shut down our government because they cannot get their way is incompetent in their job and needs to be removed from it.
For better or worse, we have a government that works with processes that have been spelled out since its origins. I don’t recall seeing anywhere in our written processes, the Constitution or any of the Amendments, that if an elected official doesn’t get their way, the Government should be shut down till they do. This is exactly the same as taking someone hostage and holding them for ransom. The people in office that have the audacity to even be thinking about such matters, need to be taken out of office and never allowed again into government. They are a danger to our society and constitution.
Think about this; Where does it stop, if every Congress Person, who didn’t get their way, pushed to have the government shut down. It would be an absolute mockery.
Listen to what each of the candidates is saying. They are more interested in trying to dismantle, attack, and tear down everyone and everything in their way. This is what they babble on about.
Ex: Healthcare – How bad/good it is? I don’t know, but without being judgmental about it, please tell me what exactly you plan to put in its place? Or are you just going to leave millions of people and families hanging out in space with no coverage whatsoever?
Social Security – There are those that say we cannot afford it – yet we have giant corporations that pay no tax, and adding insult to injury, get actual refunds. Check out the following article;
TREND WATCH [CHART] U.S. Corporations That Pay No TaxesBy TARA CLARKE, Associate Editor, Money Morning • @TaraKateClarke • May 21, 2015
Every working American is required to pay income taxes, but American companies get away with paying zero…
This year, the IRS collected roughly $1.4 trillion from U.S. taxpayers on April 15. Even individuals exempt from the federal income tax are subject to payroll taxes – and even the 14% exempt from both still must pay a sales tax.
But 11 Standard & Poor’s 500 Index giants paid no income tax in 2014, even though they reported a profit for the year according to USA Today. Forty-three more were at least partially exempt.
That means there are a record 54 U.S. corporations that pay no taxes or are at least partially exempt. That’s more than twice the amount five years ago. Most of them actually got tax refunds.
On top of that, there are currently 13 Fortune 500 companies that don’t pay taxes. We are talking about some of the biggest businesses in the nation. CBS Corp. (NYSE: CBS), which earned $1.8 billion in 2014, paid no federal tax, and received a $235 million tax refund. (If you look back at the last five years, one more Fortune 500 giant makes the list. General Electric Co. [NYSE: GE] made $33 billion from 2010-2014, paid no taxes, and received $1.4 billion in refunds.)
By keeping their cash parked overseas, companies like CBS avoid triggering U.S. corporate taxes. Instead, they take advantage of foreign tax structures that are much more forgiving. You see, according to Cato Institute research, the U.S. has the highest corporate tax rate among major industrial nations. Its effective tax rate of 35.6% on new corporate investment is nearly twice the average rate for the 90 countries studied.
As these giants dodge taxes, it’s no surprise their contribution toward the nation’s total tax revenue has declined.
In fiscal 2014, 10.6% ($320.7 billion) of the federal government’s total revenue came from corporate income taxes, according to Pew Research Center. Comparatively, corporate income tax accounted for between a quarter and a third of federal revenue in the 1950s.
Now let’s take a look at exactly which companies wriggled their way out of paying income taxes in 2014…
S&P 500 Corporations That Don’t Pay Income Taxes
|Row Company||Symbol||Net Income 2014|
|Goodyear Tire & Rubber Co||Nasdaq: GT||$2.45 billion|
|TE Connectivity Ltd.||NYSE: TEL||$1.9 billion|
|Eaton Corp. plc||NYSE: ETN||$1.79 billion|
|Tyco Int’l PLC||NYSE: TYC||$1.73 billion|
|Masco Corp.||NYSE: MAS||$856 million|
|Royal Caribbean Cruises Ltd.||NYSE: RCL||$764.1 million|
|Wynn Resorts Limited||Nasdaq: WYNN||$731.6 million|
|Darden Restaurants Inc.||NYSE: DRI||$666.6 million|
|Level 3 Communications Inc.||NYSE: LVLT||$314 million|
|FirstEnergy Corp.||NYSE: FE||$299 million|
|Cabot Oil & Gas Corp.||NYSE: COG||$104.5 million|
*Sources: S&P Capital IQ, USA TODAY **Uses data from calendar year 2014.
How About: Fortune 500 Corporations That Don’t Pay Income Taxes
|Row Company||Symbol||Net Income 2014|
|CBS Corp.||(NYSE: CBS)||$1.8 billion|
|Interpublic Group of Companies Inc.||(NYSE: IPG)||$365 million|
|Mattel Inc.||(Nasdaq: MAT)||$268 million|
|Owens Corning||(NYSE: OC)||$106 million|
|PG&E Corp.||(NYSE: PCG)||$1.84 billion|
|PEPCO Holdings Inc.||(NYSE: POM)||$406 million|
|Priceline Group Inc.||(Nasdaq: PCLN)||$73 million|
|Prudential Financial Inc.||(NYSE: PRU)||$3.49 billion|
|QualComm Inc||(Nasdaq: QCOM)||$3.21 billion|
|Ryder System Inc.||(NYSE: R)||$270 million|
|Time Warner Inc.||(NYSE: TWX)||$4.3 billion|
|Weyerhaeuser Co.||(NYSE: WY)||$960 million|
|Xerox Corp.||(NYSE: XRX)||$629 million|
*Sources: Corporate 10-K Annual Reports, TheAntiMedia.org
**Uses data from calendar year 2014. Follow me on Twitter @TaraKateClarke.
Please do not believe for one moment that if these companies paid taxes, like every normal business does, that they would close factories and lay off workers. The incomes of the CEO’s are in the many millions.
Good article to Google: Top CEOs Make 373 Times the Average U.S. Worker
By MELANIE TROTTMAN
So what’s the story? Do you really want to keep the same people in office? They are draining you and you children dry.
Try Googling where this country ranks in the world in Health and Education.
“List of Countries with Universal Healthcare | True Cost http://truecostblog.com/2009/08/09/countries-with-universal-healthcare-by-date/
“Thirty-two of the thirty-three developed nations have universal health care, with the United States being the lone exception”.
It’s MY LIFE and ‘It’s MY Money & I Want It!’
is the name of the game. Learn to stand up for yourself and not be intimidated by the corporations and their political puppets.
Harris Glasser – Author, Lecturer, Business & Personal Consultant
www.HarrisHelps.org “ It’s My Money & I Want It!”
(more next week)