Working Life

Politics is full of really asinine ideas–let’s see, the Iraq War counts as a good example. But, for perhaps the dumbest one going I’d offer up the mumbling, coming from even some Democrats, to eliminate the corporate tax. It is stupefyingly idiotic–in the midst of the greatest divide between rich and poor in 50 years, and corporate profits rising to record levels even as wage growth remain at its lowest level in half a century.

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It’s all the rage to finger big corporations for parking hundreds of billions of dollars in profits overseas — in the Cayman Islands and other hospitable spots. And, it is an economic fuck-you to every hard-working person. But, funny enough, you don’t have to go overseas to find the problem.

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At what point will shills for corporate greed ever say, “hey, you know, we can’t continue to lie about corporate taxes”. Seriously, will it be when every CEO can each buy a villa on the French Riveria — those that don’t already have one? Will it be when say the death rate for seniors who can’t afford food anymore because Medicare has been cut because of the rampant, mindless budget-cutting mania driven by deficits — deficits partly driven by corporate robbery of the Treasury — reaches say 10,000 people a week? When? Because right now there seems to be no boundary for the lying.

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I’ve made this point in the past but it’s always worth repeating — corporate taxes in the US are not high. In fact, compared to the rest of the OECD countries, the US corporate tax burden is quite low. Despite what the whiners at the Chamber of Commerce would like the people to believe.

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With the budget debate in full swing and tax deadline just a whisper away, I thought it would be useful to post this, even if it’s a year old — something to keep around every time you hear corporations whine about high taxes. Because those taxes aren’t high at all (yes, I know you know that basic fact).

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We don’t give a fuck about you. That message is sponsored and paid for by U.S. corporations — no matter the utterly phony and bullshit use of American flags or homey cultural images that you might see in advertising. They just do not care.

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Elections don’t happen in a reality created in one debate, or even one election season. People think about things– emotionally — in ways that reflect being propagandized to over many years. And that brings us to taxes– and a reason Democrats lose elections and, when they win, they often drag us in the same poor policy direction.

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    I ended up pondering the issues of taxes this morning–a, finally, fine nice spring morning here in NYC.  The Wall Street Journal reports this morning that the government’s receipts from corporate taxes have fallen. The Journal ascribes this to the "turmoil rocking financial markets and housing woes slowing the economy", just another way that […]

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