Saturday, April 2, 2011

April Fools? Transocean execs get bonuses after ‘Best Year in Safety’ despite Gulf Oil disaster

Another April fools joke?


This is why big business needs corporate tax cuts.  Those bonuses aren't going to pay themselves.  It's good to know that all those corporate tax cuts that are being funded by domestic program cuts are being used to pay bonuses to these poor execs.  I mean, we need these corporate tax cuts, right?  You know, because corporations, despite churning out record profits since 1950 in the last quarter of 2010, need these cuts to create jobs, because trickle-down economics works and the money goes where it needs to go, right?  If profits continue at that rate for an entire year, that would amount to $1.6 TRILLION dollars.

Video and more after the break:


Here are some corporate earnings numbers:  GE, the company that paid no taxes according to the NY Times and actually received $3B in tax credit made $14.2; Goldman Sachs $8.35B; GM $4.7B, Google $18.9B, and Exxon $149B.

CEO pay increased 27% last year.  Average worker pay increased 2.1% last year.  Trickle-down?  Nope; tax cuts for bonuses.  How about some of that shared sacrifice the right is always preaching to the middle class?  Sacrifice like cutting teacher pay?  Laying off teachers?  Raising taxes on elderly and the working class?  Cutting programs for the disabled?  

A recent study by the nonpartisan Congressional Budget Office shows that the deficit by 2021 would be cut in half if we let the Bush tax cuts expire.

What kind of fiscal policy do you think our government should employ at this time?  Anyone?

1 comment:

  1. this crap people need to wake up