Third Party & Independents Archives

How Long Must We Suffer Corpocracy

Comes at you constantly. Folks on disability way healthier than yourself. Illegal immigrants receiving refunds from the IRS. SS mailing monthly checks to dead people. Corporate welfare and many large corporations receiving millions in tax refunds yearly. All small change but each representing one of millions of tiny cuts, each adding to the $14T federal debt.

Then, there is the real money. Congressional 'Super Committee' of 12 to decide how to reduce the deficit by $1.5T. Some indication that the President wants to pass his $500B QE3 on to the committee to work out. Suey, suey, here hog, here. Over 100 'K' street lobbyists who once worked as aides to committee members are coming out of the woodwork.

Contractors are looking to protect federal contracts, the health-care sector is worried about reductions in hospital payments and limits on Medicare drug prices, etc. GE, for example has received some $32B from the gov't over the last ten years and well represented with eight lobbyist who previously worked for panel members. Sen. Baucus, chair senate finance committee, has three former staff chiefs who now lobby for health-care insurers, oil producers, and medical device mfctr's. Big Pharma says they will lobby against a program designed to save $112B over 10 years in Medicare cost to low income seniors. A half dozen former lobbyists are currently employed by panel members.

Easier to break it down by panel member:

Baucus - 25 lobbyists/staffers, Kerry - 15, Murray - 13, Kyl - 10, Camp - 8, Portman - 5, Upton - 5, Toomey - 5, Becerra - 4, Hensarling - 3, Clyburn - 2 and Van Hollen -2.

IMO, we can't expect decent legislation on any topic until the money influence is removed from politics/gov't. Even good legislation would be tainted with the huge conflict of interest brought about by the 'smoozy' relation between corporations and politicians.

At the crux of Corpocracy is Corporate Personhood and campaign finance. There must be a hundred different ways to get money into the maw of the corpocrate machine. Each pathway designed to get around other pathways. Similar to flooding the US with foreign workers through a myriad of entry visas, walk-in's, etc, and complimenting that with a law whereby you can't question the status of anyone.

This large CF 'business' could be vacated through a policy of directing all donations from the voter to those candidates that appear on their ballot. After all, politics used to be local. We don't need foreign folks attached to US companies influencing our elections.

We should all work in support of removing the money influence from politics/gov't. Two org's at the forefront are Reclaim Democracy and Move To Amend. Excerpt from Reclaim Democracy: At the forefront of this movement is Move to Amend, a national coalition of hundreds of organizations and over 113,000 individuals (and counting). Move to Amend is committed to building a grassroots movement to abolish corporate personhood, to hold corporations accountable to the public, and ultimately to fulfill the promise of an American democratic republic.

Boulder is not alone in this fight, nor is it the first community to consider such a resolution. In April, voters in Madison and Dane County, WI overwhelmingly approved measures calling for an end to corporate personhood and the legal status of money as speech by 84% and 78% respectively. Similar resolutions have been passed in nearly thirty other cities and counties. Resolutions have also been introduced in the state legislatures of both Vermont and Washington.""

Pretty sure this is a fissure in the ice. You may want to sign their petition and pledge support.

Otherwise - -

Posted by Roy Ellis at September 9, 2011 7:44 PM
Comments
Comment #329014


Roy, here is a partial answer to your question. The Treasury Department is planning to eliminate some but not all taxes on corporate overseas profits. Some probably means most and eventually all.

I was examining a Libertarian website yesterday which had a comment about Rick Perry, the ching ching coming from the Texas governors mansion is not caused by Rick Perry’s spurs, it’s his Mexican and Chinese coins.

That website, the necromantic cat, has loads of information on the Chinese governments dealings in Mexico and their connections with the Texas government. Please do check out the site because it has been my contention that Bush and Perry are half brothers.

If we could bring down one corporation, Walmart, it would make a difference. Walmart has dictated the moving of manufacturing to China to many of it’s suppliers.

Posted by: jlw at September 10, 2011 3:41 PM
Comment #329016

jlw, exactly what is it about Walmart that you guys on the left don’t like? Is it the fact that they employ hundreds of thousands of people, or that they are non-union, or that the people like working for them, or that they sell what the public demands. You ridicule and attack them for selling imports from China, but have you benn to Best Buy, Hobby Lobby, Staples, Office Max, or dozens of other stores lately? They all sell products made in China.

What would you suggest companies do with their overseas profits? Should they bring them into the country so they can pay a 35% tax? It’s said that well over a trillion dollars is overseas; why wouldn’t we want that money put in the economy rather than taxed? Some times you guys on the left make no sense at all.

Posted by: TomT at September 10, 2011 4:26 PM
Comment #329025

We are led to understand that Bush doesn’t care much for Perry and vice versa. But, both love the Corpocracy and vice versa. Also, any politico worth their salt would steer clear of a cozy relationship with Bush.

I see Walmart as the marker for the wage scale in the globalised economy. Over the years they have put a number of competitors out of business. But, as TomT notes, some business models are now competing with Walmart, one or two perhaps more efficient.

It’s clear that to compete in the globalised economy a business model must adhere to maximum efficiency in operations. Use everything but the ‘squeal’.

For most models the only thing left ro pursue re efficiency is fat, juicy wages that are yet to be wrung from the working folks. They may cling to their guns and religion but those wages are going on down, IMO.

I favor removing the tax burden from corporations and implemetating a flat income tax for the people. This would limit corporate welfare and provide a fair tax burden for all. But, it would have to balanced with a return to strong anti-trust law. Certain dollar amount, and/or certain percent of the market would kick in anti-trust.

Posted by: Roy Ellis at September 10, 2011 6:01 PM
Comment #329026

The Corpocracy may exempt some/all foreign profits from taxation but, IMO, so long as corporations can make a penny more on dollar in the overseas market they won’t return to set up show in the US.

Efficiency is maxed out, nothing left but the ‘squeal’ and wages. This as all profit defers to the top.

Posted by: Roy Ellis at September 10, 2011 6:07 PM
Comment #329030

SO Tom T the corporations are gonna bring back a trillion in profits they have stashed overseas and do what with it to get it back into the economy? Having it sit here in a bank isn’t gonna do much is it?

Posted by: j2t2 at September 10, 2011 6:25 PM
Comment #329042

Well j2t2, I don’t really think any corporation will let money sit in a bank, do you?

What will they do with it, I don’t know. They will probably do nothing as long as Obama is in office. He has shown himself to be the enemy of business and without knowing what scheme he will come up with next to rob them, chances are they will do nothing.

But whatever they do with a trillion dollars, it will be better than what Obama has already done with 4 1/2 trillion.

Posted by: TomT at September 10, 2011 11:53 PM
Comment #329044

“Well j2t2, I don’t really think any corporation will let money sit in a bank, do you?”

Well, actually yes TomT. Corporations have been increasingly hoarding cash since the early 80s. They have not been making capital investments for a long time. Blaming Obama for something that has been occurring for decades is nonsensical. http://www.ritholtz.com/blog/2010/07/corporate-cash-has-been-piling-up-since-1982/

Posted by: Rich at September 11, 2011 7:52 AM
Comment #329046

Corporate taxes are at a historical low as a percentage of GDP and have been trending down for decades. Check out the following link on that trend. http://www.ritholtz.com/blog/2010/08/tax-base-as-of-gdp/

As one commentator noted: “If we merely revert to more historically “normal” tax receipts as a percentage of GDP (excluding social insurance which is a completely different issue) the extra revenue will come to some 4% of GDP, or $900 billion per year. The federal budget deficit in 2010 was $1.17 trillion.” http://suddendebt.blogspot.com/

You might also note that while corporate taxes have decreased about 50% as a percentage of GDP, social insurance has increased about 250%. Yet, how do conservatives intend to balance the budget: cut social security programs. How absurdly unfair. The budget should be balanced on the backs of those that have been actually paying for the benefits.

I am not suggesting that the corporate tax structure shouldn’t be reformed. It should be streamlined to eliminate outdated subsidies, unnecessary credits, etc. The statutory rate should reasonably reflect the actual effective rate.


Posted by: Rich at September 11, 2011 8:58 AM
Comment #329049

Tom T now that your “benevolent corporations” theory has been shot in the foot do you have any suggestions on how to get the trillion into the economy?

Posted by: j2t2 at September 11, 2011 9:31 AM
Comment #329054

Say, has any of the ‘too big to fail’ corp’s been busted up by anti-trust? Assume they are waiting for the next great crisis to be bailed out again, and again and …

Otherwise - -

Posted by: Roy Ellis at September 11, 2011 12:46 PM
Comment #329063

j2t2, nothing has been refuted. The reason the left is so concerned about the corporate overseas cash is because they can’t get their greedy thieving hands on it; and for no other reason. Obama could care less about jobs.

Posted by: Mike at September 11, 2011 3:15 PM
Comment #329108


“How much longer must we suffer corpocracy”

Ask Mike.

Posted by: jlw at September 12, 2011 3:08 PM
Comment #329114

How much longer must we suffer ignorance from the left?

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