Of the 100 largest economies in the world, 51 are corporations.
Of those, 47 are U.S.-based.
The overall share of federal taxes paid by U.S. corporations is now less than 10 percent, down from 21 percent in 2001 and 50 percent during World War II.
Of those, 47 are U.S.-based.
The overall share of federal taxes paid by U.S. corporations is now less than 10 percent, down from 21 percent in 2001 and 50 percent during World War II.
According to the Government Accountability office (the investigative arm of Congress), two out of three U.S. corporations paid no taxes from 1998 through 2005. The study covered 1.3 million corporations of all sizes, with a collective $2.5 trillion in sales. It also included foreign corporations that do business in the U.S.
One-third of America's largest and most profitable corporations paid zero taxes -- or actually received credits -- in at least one of the last three years (according to Forbes magazine).
Back in 1980 the average American chief executive earned 40 times as much as the average manufacturing employee. Today, for the top tier of American CEOs, the ratio is now 475:1 and would be vastly greater if assets, in addition to income, were taken into account.
By way of comparison, the ratio in Britain is 24:1, in France 15:1, in Sweden 13:1.
One-third of America's largest and most profitable corporations paid zero taxes -- or actually received credits -- in at least one of the last three years (according to Forbes magazine).
Back in 1980 the average American chief executive earned 40 times as much as the average manufacturing employee. Today, for the top tier of American CEOs, the ratio is now 475:1 and would be vastly greater if assets, in addition to income, were taken into account.
By way of comparison, the ratio in Britain is 24:1, in France 15:1, in Sweden 13:1.
Which begs the question, why isn't wage depreciation a campaign issue?
In 1980, a high school dropout earned $27,000 annually.
In 2004, a high school dropout earned $21,800 annually.
In 1980, a college grad earned $40,800 annually.
In 2004, a college grad earned $43,500 annually.
Some are busy blaming our country's problems on gay marriages, abortion clinics, flag burning, or those damn tree-huggin'' liberals. But these "wedge issues" are nothing more than distractions. They distract attention from the Corporatocracy that has taken over our country. Welfare for the poor is attacked, derided and scandalized. Yet corporate welfare goes on unabated. Corporate profits are privatized, while corporate losses are socialized. What a scam.
In 2004, a high school dropout earned $21,800 annually.
In 1980, a college grad earned $40,800 annually.
In 2004, a college grad earned $43,500 annually.
Some are busy blaming our country's problems on gay marriages, abortion clinics, flag burning, or those damn tree-huggin'' liberals. But these "wedge issues" are nothing more than distractions. They distract attention from the Corporatocracy that has taken over our country. Welfare for the poor is attacked, derided and scandalized. Yet corporate welfare goes on unabated. Corporate profits are privatized, while corporate losses are socialized. What a scam.
We have a divided and uninformed Republic. The masses are like sheep. They are numb, naive, unaware, and ignorant.
Meanwhile, America's CEOs are very happy that the American people are so easily distracted from the real danger that is devouring our once-great nation.
While protestors on both sides waste their time and their breath arguing over comparative trivialities, our country's economy, and our future, are being sold down the river by the new American Corporatocracy.
Meanwhile, America's CEOs are very happy that the American people are so easily distracted from the real danger that is devouring our once-great nation.
While protestors on both sides waste their time and their breath arguing over comparative trivialities, our country's economy, and our future, are being sold down the river by the new American Corporatocracy.
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Comments: 9
I'm unclear as to what "the real danger that is devouring our once-great nation." is?
Is it the fact that corporations are not paying enough taxes? Is it corporate welfare?
We have given our country over to corporations, the gap between rich and poor is widening, and all the public can think about is what they want to get at the mall this weekend with their maxed-out credit cards. The US public has been sold a bill of goods; they've been lulled into a false sense of desire through endless advertising. They can never be satisfied because they always want the next new thing.
It is time to wake up and smell the coffee. Endless greed (both on a corporate and individual level) is sinking us.
That's nearly $40 billion, distributed among just five firms: Bear Stearns, Goldman Sachs, Lehman Brothers, Merrill Lynch, and Morgan Stanley.
If split equally among the approximately 186,000 workers at the former Big Five Investment Banks, that bonus money amounts to $201,500 per person -- more than four times the $48,201 median household income in the US last year.
Those 2007 bonuses were paid even though the shareholders in those firms collectively lost about $74 billion in stock declines last year -- the worst year since 2002.