This blog previously noted that the plutocracy needs those tax breaks to fund their wars on equity and ecology. And, given the unrest in oil countries, the American Empire needs to fuel its war machine. Thus, they are coming after social spending.
Think Progress reports, You Have More Money In Your Wallet Than Bank Of America Pays In Federal Taxes.
“I have one dollar in my wallet.”
“That’s more than the combined income tax liability of GE, ExxonMobil, Citibank, and the Bank of America. That means somebody is gaming the system.”
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“As the House of Representatives moved toward approving a stopgap resolution to avert a government shutdown for another two weeks,” reports Think Progress Josh Dorner, “Democrats offered a motion to recommit that would have stripped the five largest oil companies of taxpayer subsidies, saving tens of billions of dollars in taxpayer funds. The motion failed on a vote of 176-249, with all Republicans voting against (approximately a dozen Democrats joined the GOP). A similar vote two weeks ago to recoup $53 billion in taxpayer funds from Big Oil was also voted down, largely along party lines. The former CEO of Shell Oil, John Hoffmeister, recently said Big Oil doesn’t need subsidies “in face of sustained high oil prices.” From 2005 to 2009, the largest oil companies have made a combined $485 billion in profits.
Matt Damon says that Obama has rolled over completely for Wall Street. This blog believes that it was a prior condition to his current employment.
This morning’s pillow talk:
“I’ve begun to think that Obama was a gimmick. They (the wealthy elite previously discussed) saw too much objection to Senator McCain and too much objection elsewhere to a President Hilary Clinton. They saw the racism against Obama as manageable and, with a popular president, they more easily could continue their agenda.”
Bob Morris says likewise, i.e., “He has always been part of their team, Matt.”
Dean Baker has discovered the imaginary world in which Washington lives.Which, in a sense, is unfair, since there are only a few really crazy among the ear-tagged, most are just corrupt.
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