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Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsSanders Shames CEOs Lecturing 'America' on the Economy
from Politicususa:
Sen. Bernie Sanders fired back at 80 CEOs who wrote a letter lecturing America about deficit reduction by released a report detailing how 18 of these CEOs have wrecked the economy by evading taxes and outsourcing jobs.
80 CEOs raised the ire of Sen. Sanders by publishing a letter in the Wall Street Journal urging America to act on the deficit, and reform Medicare and Medicaid.
Sen. Sanders responded to the lecture from Americas CEOs by releasing a report that detailed how 18 of them have helped blow up the deficit and wreck the economy by outsourcing jobs and evading US taxes.
Sanders said,
There really is no shame. The Wall Street leaders whose recklessness and illegal behavior caused this terrible recession are now lecturing the American people on the need for courage to deal with the nations finances and deficit crisis. Before telling us why we should cut Social Security, Medicare and other vitally important programs, these CEOs might want to take a hard look at their responsibility for causing the deficit and this terrible recession.
Our Wall Street friends might also want to show some courage of their own by suggesting that the wealthiest people in this country, like them, start paying their fair share of taxes. They might work to end the outrageous corporate loopholes, tax havens and outsourcing provisions that their lobbyists have littered throughout the tax code contributing greatly to our deficit.
Many of the CEOs who signed the deficit-reduction letter run corporations that evaded at least $34.5 billion in taxes by setting up more than 600 subsidiaries in the Cayman Islands and other offshore tax havens since 2008. As a result, at least a dozen of the companies avoided paying any federal income taxes in recent years, and even received more than $6.4 billion in tax refunds from the IRS since 2008.
Several of the companies received a total taxpayer bailout of more than $2.5 trillion from the Federal Reserve and the Treasury Department.
Many of the companies also have outsourced hundreds of thousands of American jobs to China and other low wage countries, forcing their workers to receive unemployment insurance and other federal benefits. In other words, these are some of the same people who have significantly caused the deficit to explode over the last four years.
Here are the 18 CEOs Sanders labeled job destroyers in his report...
read: http://www.politicususa.com/2012/10/25/bernie-sanders-exposes-18-ceos-trillions-bailouts-evaded-taxes-outsourced-jobs.html#.VVkMEMPMRsh.facebook
n2doc
(47,953 posts)Fuckers have golden packages already lined up.
closeupready
(29,503 posts)You gotta give it to them - they know how to take care of each other. Just not their workers.
daleanime
(17,796 posts)Paka
(2,760 posts)a CEO with Standard Oil still takes his over $2,000/month SS and maxes out medicare whenever he can.
valerief
(53,235 posts)olegramps
(8,200 posts)Probably not, until they are driven into absolute desperation. I can only dream and I don't have that much more time in which to hope to see some justice.
kenfrequed
(7,865 posts)It is amazing how these CEO's seem to justify their own greed and want to demonize the poor.
erronis
(15,219 posts)They only hear each other and their well-funded lackey consultants.
They are generally beholden to con artists like Adelman and Koch(s) who can waggle their index fingers and have these courtiers kissing something.
We can either overthrow this new set of self-proclaimed royalty through a democratic process or through a much more unpleasant process. If the democratic one is plugged there will be some relief.
kenfrequed
(7,865 posts)Also, there have been some studies done on privelage and the weird way people justify their wealth or privelages. I should try to find a link.
bullwinkle428
(20,629 posts)ProfessorGAC
(64,971 posts)The 18 he hits did the most damage. This doesn't mean there aren't others in the remaining 62 who were on the same trajectory, just to a lesser impact.
moondust
(19,971 posts)some corporations have apparently complained that decaying infrastructure is a bad thing for the economy. I noticed that one of those corporations was GE, which I believe has a negative tax rate, and there may be others on the list that do not help fund infrastructure maintenance.
WillyT
(72,631 posts)daleanime
(17,796 posts)kacekwl
(7,016 posts)this would lead the news and information media stories daily.
Dustlawyer
(10,494 posts)NYC_SKP
(68,644 posts)I can't wait til he actually launches his campaign.
staggerleem
(469 posts)As far as I know, it's Jeb Bush who hasn't "officially" announced yet - and that's only so he can maintain control of the donations his PACs are receiving for as long as possible.
Talk about obeying the letter of a law while essentially pissing on the intent of that law. Jeb is blatantly attending campaign events and making speeches, but he's not, technically, "campaigning" ... yet! Yeah, that's the kinda President we need - NOT!
SamKnause
(13,091 posts)as the best and the brightest.
I see his phone a friend and BFF Jamie Dimon is on the list.
cui bono
(19,926 posts)Initech
(100,059 posts)mountain grammy
(26,608 posts)Exilednight
(9,359 posts)Only one running who would date chastise these 80 in a public setting.
AzDar
(14,023 posts)BlancheSplanchnik
(20,219 posts)Must go look!
arcane1
(38,613 posts)BlancheSplanchnik
(20,219 posts)woo me with science
(32,139 posts)Javaman
(62,510 posts)Paka
(2,760 posts)Come 2016, Bernie is who I will vote for no matter who the nominee is. Go Bernie go!
turbinetree
(24,688 posts)with a list of what some oligarchs paid in taxes:
"Companies Represent Diverse Economic Sectors
The companies profiled here represent a range of segments of the U.S. economy:
Broadcaster CBS Corporation enjoyed $1.8 billion in U.S. profits last year, and received a federal income tax rebate of $235 million.
Doll-maker Mattel, which has paid zero federal income taxes over the past five years, received a tax rebate of $46 million in 2014.
The financial services corporation Prudential avoided all federal income taxes on its $3.5 billion in U.S. profits in 2014.
Ryder System, which provides truck rentals and services, paid a negative 0.3 percent federal income tax rate in 2014 and over the past five years a negative 0.5 percent rate.
California-based utility PG&E had negative tax rates both in 2014 and over the five-year period.
All 15 companies effective federal income tax rates for 2014 and the five-year period between 2010 and 2014 are shown in the table below:"
http://ctj.org/ctjreports/2015/04/fifteen_of_many_reasons_why_we_need_corporate_tax_reform.php#.VVuGf0Yeo0U
http://ctj.org/ctjreports/2015/04/the_us_is_one_of_the_least_taxed_developed_countries.php#.VVuGmkYeo0U
pansypoo53219
(20,968 posts)Moostache
(9,895 posts)1). Bank of America CEO Brian Moynihan
2). Goldman Sachs CEO Lloyd Blankfein
3). JP Morgan Chase CEO James Dimon
4). General Electric CEO Jeffrey Immelt
5). Verizon CEO Lowell McAdam
6). Boeing CEO James McNerney, Jr.
7). Microsoft CEO Steve Ballmer
8). Honeywell International CEO David Cote
9). Corning CEO Wendell Weeks
10). Time Warner CEO Glenn Britt
11). Merck CEO Kenneth Frazier
12). Deere & Company CEO Samuel Allen
13). Marsh & McLennan Companies CEO Brian Duperreault
14). Qualcomm CEO Paul Jacobs
15). Tenneco CEO Gregg Sherill
16). Express Scripts CEO George Paz
17). Caesars Entertainment CEO Gary Loveman
18). R.R. Donnelly & Sons CEO Thomas Quinlan III
I personally view their signatures on the Wall Street Journal piece as tantamount to a signed confession.
This is one list you don't want to be on if society fails...
Dark n Stormy Knight
(9,760 posts)Al Capone had nothing on these criminals. And if they're not technically criminals, it's because they've bought the politicians to make their egregious behavior legal.
laundry_queen
(8,646 posts)tennstar
(45 posts)Hillary say?
Waiting...........
ChisolmTrailDem
(9,463 posts)QC
(26,371 posts)blackspade
(10,056 posts)maindawg
(1,151 posts)the deficit to explode over the last four years.
Here are the 18 CEOs Sanders labeled job destroyers in his report. (All data from Top Corporate Dodgers report.)
1). 1. Bank of America CEO Brian Moynihan
Amount of federal income taxes paid in 2010? Zero. $1.9 billion tax refund.
Taxpayer Bailout from the Federal Reserve and the Treasury Department? Over $1.3 trillion.
Amount of federal income taxes Bank of America would have owed if offshore tax havens were eliminated? $2.6 billion.
2). Goldman Sachs CEO Lloyd Blankfein
Amount of federal income taxes paid in 2008? Zero. $278 million tax refund.
Taxpayer Bailout from the Federal Reserve and the Treasury Department? $824 billion.
Amount of federal income taxes Goldman Sachs would have owed if offshore tax havens were eliminated? $2.7 billion
3). JP Morgan Chase CEO James Dimon
Taxpayer Bailout from the Federal Reserve and the Treasury Department? $416 billion.
Amount of federal income taxes JP Morgan Chase would have owed if offshore tax havens were eliminated? $4.9 billion.
4). General Electric CEO Jeffrey Immelt
Amount of federal income taxes paid in 2010? Zero. $3.3 billion tax refund.
Taxpayer Bailout from the Federal Reserve? $16 billion.
Jobs Shipped Overseas? At least 25,000 since 2001.
5). Verizon CEO Lowell McAdam
Amount of federal income taxes paid in 2010? Zero. $705 million tax refund.
American Jobs Cut in 2010? In 2010, Verizon announced 13,000 job cuts, the third highest corporate layoff total that year.
6). Boeing CEO James McNerney, Jr.
Amount of federal income taxes paid in 2010? None. $124 million tax refund.
American Jobs Shipped overseas? Over 57,000.
Amount of Corporate Welfare? At least $58 billion.
7). Microsoft CEO Steve Ballmer
Amount of federal income taxes Microsoft would have owed if offshore tax havens were eliminated? $19.4 billion.
8). Honeywell International CEO David Cote
Amount of federal income taxes paid from 2008-2010? Zero. $34 million tax refund.
9). Corning CEO Wendell Weeks
Amount of federal income taxes paid from 2008-2010? Zero. $4 million tax refund.
10). Time Warner CEO Glenn Britt
Amount of federal income taxes paid in 2008? Zero. $74 million tax refund.
11). Merck CEO Kenneth Frazier
Amount of federal income taxes paid in 2009? Zero. $55 million tax refund.
12). Deere & Company CEO Samuel Allen
Amount of federal income taxes paid in 2009? Zero. $1 million tax refund.
13). Marsh & McLennan Companies CEO Brian Duperreault
Amount of federal income taxes paid in 2010? Zero. $90 million refund.
14). Qualcomm CEO Paul Jacobs
Amount of federal income taxes Qualcomm would have owed if offshore tax havens were eliminated? $4.7 billion.
15). Tenneco CEO Gregg Sherill
Amount of federal income taxes Tenneco would have owed if offshore tax havens were eliminated? $269 million.
16). Express Scripts CEO George Paz
Amount of federal income taxes Express Scripts would have owed if offshore tax havens were eliminated? $20 million.
17). Caesars Entertainment CEO Gary Loveman
Amount of federal income taxes Caesars Entertainment would have owed if offshore tax havens were eliminated? $9 million.
18). R.R. Donnelly & Sons CEO Thomas Quinlan III
Amount of federal income taxes paid in 2008? Zero. $49 million tax refund.
hifiguy
(33,688 posts)for these pompous parasites.
Buns_of_Fire
(17,173 posts)But what sentient creature could eat any of them without gagging?
(I sometimes ponder such things as I make sure that the wheels on the tumbrel are nicely lubricated.)
hifiguy
(33,688 posts)where there are vicious cannibals roaming around. Parachute them all in, with condiments. For the cannibals to use as they see fit.
Buns_of_Fire
(17,173 posts)Either way, sounds like a win-win to me.
arcane1
(38,613 posts)Enthusiast
(50,983 posts)Spitfire of ATJ
(32,723 posts)L0oniX
(31,493 posts)Obviously Bernie is a Repuke. A real DLC corporate centrist would be helping those poor CEO's who create tons of jobs for the USA. Why doesn't he know that it takes big money to win elections? He needs better handlers and consultants. He needs to stop listening to poor people. They don't contribute to political campaigns anyway. To top it all ...why doesn't he get some hair transplants?
Voice for Peace
(13,141 posts)LOL
Do you think he's got a seriously smart security team?
These guys don't mess around.
Martin Eden
(12,862 posts)Way to go Bernie.
woo me with science
(32,139 posts)NO MORE WALL STREET PUPPETS.
WE NEED BERNIE IN THE WHITE HOUSE!
KoKo
(84,711 posts)Enthusiast
(50,983 posts)lordsummerisle
(4,651 posts)Talk about speaking truth to power!
Enthusiast
(50,983 posts)Every DUer should get behind Bernie on this.
CharlotteVale
(2,717 posts)bigwillq
(72,790 posts)InAbLuEsTaTe
(24,122 posts)DJ13
(23,671 posts)K&R!
You tell em Bernie! I am with him all the way. My parents will be Hillary supporters, but they don't dislike Bernie - they are just older and more set in their ways with the Party. I'm just glad my dad is a good Democrat since his parents always voted straight Republican.
jtuck004
(15,882 posts)Thanks, bigtree, and go Bernie! Not just political slogans. My only question: Was this reply (to the WSJ CEO letter) published as a LTE in the WSJ?
woo me with science
(32,139 posts)raouldukelives
(5,178 posts)They_Live
(3,231 posts)This is what we need to be talking about and doing something about. Go Bernie!
Overseas
(12,121 posts)Buenaventura
(364 posts)dpatbrown
(368 posts)Corporation's greedy CEO's ( and the stockholders) have ONLY one concern, make as much money as possible, regardless of the effects to this country. Shameful. There should be a law that states that if they move ONE job overseas they have to move to that country and forfeit their citizenship, period.
HughBeaumont
(24,461 posts)Keep taking it to the econoparasites, Bernie!
rhett o rick
(55,981 posts)Last edited Wed May 20, 2015, 02:09 PM - Edit history (1)
This is an important issue. On whose back should the budget be balanced? The American people via cuts to Medicare and Medicaid? or the greedy CEO's that are ripping us off?
It's clear where Sen Sanders stands. But I think HRC will stand with her close personal friends, the CEO's. She has told them in the near past that she thought that criticism of the banksters was foolish. And she is willing to accept billions of donations from those CEO's.
Stupid question time: Why would a Democrat support a candidate that may cut Medicare and Medicaid?
On edit: H.Clinton hasn't, as far as I know, said she will "cut" Medicare or Medicaid benefits. Nor has she pledged not to cut those benefits as far as I know. If you know, plez enlighten me. But, having said that, there will be a great deal of pressure on her to balance the budget on the backs of the people by cutting benefits as the CEO's have identified. Remember, these CEO's will be among the billionaires that will be donating an estimated $2 billion dollars to ensure she gets elected.
My point is that why not vote for Sen Sanders and then you won't have to worry?
NorthCarolina
(11,197 posts)already know the answer to this question. I know I do.
kenfrequed
(7,865 posts)While I think Hillary might not be a good candidate and I think her closeness to the banks is a big problem, I don't think I had heard of her actually supporting cutting Medicare and Medicaid. Did she actually support that? I am fairly sure I would have heard of it. If there isn't any solid evidence could you maybe edit out the last line?
staggerleem
(469 posts)All we've heard from the Clinton camp are platitudes, not policy. And don't hold your breath waiting for any real substance to emerge, either - even Olympic swimmers can't hold their breath THAT long.
rhett o rick
(55,981 posts)Why take that chance, vote for Sen Sanders. I did edit my above post for clarification.
kenfrequed
(7,865 posts)I am an ardent supporter of Bernie here in Minnesota and I believe he can win. I think it is important that we all stay as positive as possible and avoid taking any bait or falling for any bad arguments that don't deal with substantive policy.
I watch Bernie's interviews, especially the recent one with Wolf Blitzer recently and I continue to be impressed how he just puts forth good policy and doesn't get bogged down with personal stuff or suckered into bad positions.
The TPP is already an issue and I think we can judge our candidates based on their positions on that.
whatchamacallit
(15,558 posts)Oh wait...
malthaussen
(17,183 posts)There's 18 respected captains of industry who won't be writing any checks to his campaign.
Wait a second... they weren't going to be writing him any checks to begin with.
-- Mal
sabrina 1
(62,325 posts)are, tax cheats, welfare kings, many of whom should be in jail, they certainly should not be lecturing ANYONE on ANYTHING, they should be hiding in one of their many mansions GRATEFUL that they got away with it all.
But psychopaths do not feel the normal emotions of others and won't stop until they are stopped.
Bailing them out only encouraged them to continue their criminal ways.
staggerleem
(469 posts)... and that is what the "banksters" bank ON!
Has anyone else pointed out that Bernie's report is a RE-release, and was initially released PRIOR to the 2012 election?
Bernie is no "newbie" when it comes to pointing out bankster hypocrisy. He could run his entire campaign just by quoting from his own past.
d_legendary1
(2,586 posts)Bankers: "Trust us! We're businessmen and we're rich!"
Sanders: "Some of you assholes caused this mess by being tax cheats!"
Bankers: "Well...we never said we were HONEST businessmen, did we?"
rhett o rick
(55,981 posts)YOHABLO
(7,358 posts)Obama became President. No thanks to any of them. They're full of bull and MSM is probably not covering this.