Carl Icahn, noted corporate predator and takeover specialist who made billions of dollars in corporate deals, has recently begun pushing a charitable cause involving a group of people who, through no fault of their own, are being forced out of America. Syrian migrants who've lost everything, you ask? Or maybe Central American children fleeing the horrors of drug wars? Nope, none of those foreign sob stories for Icahn. Rather, he weeps for the incomprehensible suffering of a small tribe of Americans, namely: the CEOs of several U.S.-based multinational corporations.
"Congress has a moral imperative to serve not the few who are big corporate shareholders but to enhance value for all people — for the common good."
I would rather suspect that a review of congress critters' net worth would reveal that it is heavily tied to the market. Cui bono?
You always hear that line - Corporations have a duty to maximize profit for their shareholders. It is repeated ad nauseum whenever the behavior of a corporation is worthy of reproach. You'll hear that line intoned with somber unquestioning gravitas as if it were the most sacred of religious dogma and in fact where corporate profits are in conflict with religious doctrine, they supersede it as a matter of course.
We are continually told that this is the foundation stone upon which the corporate religious faith is built. Thou shalt not screw with profits. Not morality or patriotism, nor any sense of decency or of justice may interfere with this precept.
Somehow they have got us all believing that this corporate Nuremberg defense is applicable in all situations.
Do you oppose the loss of national sovereignty in secretly composed trade deals that circumvent a nation's laws and regulations. Profits over patriotism?
Profits über alles!!!
You know ... they ain't kidding about that. Capitalism's very own Frankenstein's monster awakens. TTP, TTIP, TISA and Ceta (um - did I miss any?) are coming for you!!!
I'd like to see more articles on this topic. I want to understand better exactly how corporations use their multi-national status to dodge paying taxes. By understanding their game plan, perhaps we can do something about it.
Carl Icahn, predatory anti-social criminals like him, and their enablers like HRC and Obama should be re-educated in compulsory labour camps.
"These rank corporate tax dodgers are starving America's essential public services of $600 billion they owe us taxpayers, yet Icahn sobs in print that they are the victims."
Not only that, they fund candidates who point the finger at Muslims, Illegal Mexican/Hispanic workers, or uppity women; and pay think tanks to come up with alternative narratives like the one being pushed by The Washington Post. (See today's Dean Baker article exposing how journalist Catherine Rampell promotes a "blame the elderly" narrative.)
Once a major news outlet latches onto an Official Story, it begins to repeat from there. Projected throughout the media echo chamber, this repetitious narrative turns it magically into the Serious (and/or adult) Thought Currency of the land.
And applause to you, Mr. Hightower, for keeping knowledge of this glaring fraud alive:
"Carl even asserts that the corporate elites are "completely justified" in leaving America if they aren't given this tax boondoggle. After all, he says, CEOs "have a fiduciary duty to enhance value for their shareholders."
"Haven't we seen this movie before? Ah, yes: It was in the 2008 tragi-comic, multitrillion-dollar bailout of Wall Street banks and big corporations. They said that if Washington rescued them, they would then invest in Main Street and in middle-class jobs. We did; and they didn't. They lied then, and the Icahn hucksters are lying to us now."
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I have a suggestion. If they want to move out of the country, then they cannot do business here. Also, we can bring back import duties to make up for the pricing, labor and tax differences like we used to do. Problem solved.
When I visited China a few years ago, the Chinese guide told us that there is a huge import tax on automobiles. So if you want to sell cars in China, you have to build them in China.
I teach accounting to oil executives that are sent here from China. They tell me that they can buy Chinese goods cheaper in the USA than they can in China.
China must be laughing all the way to the bank.
If I counted my zeros correctly, that' a rate of only 2.3%. What a burden!
How can Trump take this guy seriously when he talks about bringing US dollars back home?
Hmmmm, is this a trick question, Jim?
These are the people who say: "Support our troops." But these corporations don't pay their taxes. Therefore, they do not support the troops. How many would volunteer to fight and die for the oligarchy if they knew the oligarchy did not support them? Our voluntary army is formed primarily by those who respond to the patriotism whipped up by these corporations. Too bad they don't know that the pounders of the war drums refuse to spend their tax dollars in support of the wars from which they profit and in which the under-informed die.
This is what is known as connecting to dots. While very basic, it is missed by the overwhelming majority who have been totally blinded by the propaganda of the corporate elites. Good job!
If an everyday blue collar type were to withhold their taxes they would receive a surprise visit from the IRS and FBI as they kicked his door in during the early morning hours. He would be dragged off in handcuffs and brought before a magistrate or a judge for not paying his fair share of tax! Meanwhile the remaining IRS and FBI agents would be ransacking the blue collar types house and garage, confiscating PC's, laptops, TV's, jewelry, cars, motorcycles and cash. Yet people who withhold billions of dollars get to walk around free as a bird, without a care in the world. My dad was right, when I was a kid he told me to never trust a person who wears a suit!
Watch Obama throw in A "Tax Holiday" for the Vultures on his Lame Duck way out, and just before the next "Bubble" pops us into another Bailout- It wouldn't surprise me- surprise me hell- I expect it to be Weaseled into the agenda! Of course he would be nicely rewarded....
Not only that but the Oligarchs also create the conditions for joblessness that ultimately makes joining the Military A job offer A homeless poverty stricken person can not refuse, as it is the only game in town-