Monday, April 18, 2011

Conclusive Proof That Things Are All Screwed Up

Senator Bernie Sanders (Ind-VT) has come up with a list of the Top-10 Corporate Freeloaders. It's an eye-opener (click to enlarge):

If you have old eyeballs like mine and still can't read it, here are some of the low-lights:

* Exxon Mobile had a $19 billion profit in 2009, and got a $156 million tax rebate.

* Bank of America had a profit of $4.4 billion and got a rebate of $1.9 billion.

* General Electric has made $25 billion in profits over the past five years and during that time has sent one-fifth of its jobs overseas, thereby avoiding billions in U.S. taxes.

* Chevron made $10 billion in profit in 2009 and received a $19 million refund in 2010.

* Valero has $60 billion in sales, but got a $157 million refund.

If you can stomach it, there's more of the same on the list. Now add to that the news that one-half of all American families will pay no federal income tax this year.

With the giants of American business and half the general public freeloading, it's no wonder we're deep in debt. How is it possible that we have permitted this to happen?

And, when damn near everyone agrees that something must be done about the deficit, how is it possible that almost half the country supports the Congressional Republicans, who want more tax cuts for business and are fighting tooth and nail against allowing the Bush tax cut for the wealthiest Americans to lapse?

It's simply crazy!

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