Democrats and Republicans Are Quietly Planning a Corporate Giveaway — to the Tune of $400 Billion

[Jefferson23]

Why isn’t anyone talking about it?

By William Greider | March 7, 2016


People attend a rally outside of the office of Sen. Charles Schumer (D-NY) to protest an extension of tax breaks for the wealthiest two percent of Americans in December 2010 in New York City. (Photo by Spencer Platt/Getty Images)

Young people are the good news of 2016. They see the stressful realities of American life more clearly than their elders and are rallying around the straight talk of Bernie Sanders. Meanwhile, the big hitters back in Washington politics are working on an ugly surprise not just for the kids but for all of us — another monster tax break for US multinational corporations.

The bad news is that key leaders of the Democratic Party — including the president — are getting on board with Republicans, despite some talk about confronting income inequality. Influential Democrats intend to negotiate with Republican counterparts on the size and terms of post-facto tax “forgiveness” for America’s globalized companies. This is real money they’re talking about — a giveaway of hundreds of billions.

Why haven’t voters heard about this from candidates? Because Republicans and Democrats both know it would make angry voters even angrier.

The major multinationals complain about a tax problem that most citizens would love to have for themselves: Thanks to a loophole in the tax code, the companies do not have to pay US taxes on profits they have earned in foreign countries until they bring the money home to American shores. Altogether, the globalized US companies have accumulated $2.1 trillion in untaxed profits, most of it parked in overseas tax havens.

The multinationals are waiting for Congress to forgive them their debts.

snip* Senator Elizabeth Warren, as she often does, found the right words to describe this transaction. She called it “a giant wet kiss for the tax dodgers.” Warren and Senator Sanders have repeatedly charged that the system is rigged. What’s particularly outrageous about this new rigging of the tax code is that even though the politicians are engineering it in the midst of a presidential election, most voters don’t have a clue.

in full: http://billmoyers.com/story/democrats-and-republicans-are-quietly-planning-a-corporate-giveaway-to-the-tune-of-400-billion/

[liberal_at_heart]

1. I am so tired of this shit. No more negotiating. The middle class is now a minority.

[Jefferson23]

2. It is beyond disgusting, please consider emailing, tweeting this to any news publication you

can..thank you.

[liberal_at_heart]

3. That's a good idea. This needs more exposure.

[global1]

4. This Is Outrageous....

Besides electing Bernie - what can we do to stop this dead in its tracks now?

[Jefferson23]

8. Complain to every elected rep in your state. E-mail, tweet this to as many news publications,

including tv news outlets..let them know you know they are not talking about it.

[Unknown Beatle]

80. This pisses me off to no end!

From the article: "Who’s colluding in the planned giveaway? Not just Republicans, but President Obama and Senators Boxer and Schumer, among others."

Barbara Fucking Boxer! Fuck! What a fucking letdown. Obama, doesn't surprise me in the least. Obama could have been a great president, but he chose to represent the 1% instead.

[Jefferson23]

84. Right and why voters are listening to Bernie. This approach to government is unsustainable

and Bernie will not and has not been embraced by the establishment within our party.
It us up to us to make the demands and why I get frustrated when people say he
is promising "free stuff"..it was never about that.

I suspect they would very much prefer to lose the WH than see his agenda
go forward. DC has been run this way decades before Obama became
president, so what we see is how much further entrenched special interests have
become in legislation. CU was the worst thing..a truly sickening of democracy.

Voters for Bernie realize we need to confront this problem and the one
best placed to do that is the one who is NOT the recipient of said monies.

[global1]

5. This Story Needs To Go Viral.....

please everyone - take it out to social media.

[Waiting For Everyman]

6. So that's what's up behind the diversion.

More of the same disgusting sell-out crap.

Tweeted. Thanks for the post.

[Jefferson23]

11. Thank you for spreading it around. n/t

[Avalux]

7. THIS is why they're desperately trying to stop Bernie.

I see no daylight between Democrats and Republicans when it comes to corporate welfare, Hillary included.

This should be all over the news and it isn't. The American people are living in Pravda's USSR.

[Jefferson23]

9. Yep and please spread it around...all your elected reps as many news publications etc.n/t

[Avalux]

16. I've already sent it out there.

Thank you for posting it here!

[Jefferson23]

17. Back at ya.

[Enthusiast]

49. You nailed it. Thank you for the highly accurate post.

[kacekwl]

70. But all Bernie's ideas are unicorn dreams.

How Mr. Sanders do you plan to pay for all these nice things ? Maybe if these fuckers pay tax on what they should, maybe if these corporations stop holding cities hostage by getting endless tax relief before they build a new store or stadium. WTF ? I know, let's elect Trump he will solve everything. Where am I for gods sake.

[SamKnause]

10. This has already been tried.

1. It failed miserable if the intent was to boost the economy and produce jobs.

2. It was an extreme success if was meant to fatten the wallets of the tax dodgers.

This leads me to believe their intention is number 2.

Fuck bipartisanship !!!!!!!!!!!!!!!

[Jefferson23]

15. I believe it speaks to the control special interests have, and it is powerful.

Remember how Bernie said at one of the debates, when Hillary said WS
was only one street and he countered..NO, they are the most powerful
much more than most people realize.

[Tierra_y_Libertad]

20. donors = investors expecting a good return for their money.

[Jefferson23]

21. Absoultely pervasive, yes. n/t

[Kip Humphrey]

12. 3rd-Way turncoats will bring this country to its knees right beside them as they suck off global

corporations.

[VulgarPoet]

14. Inb4 swarm'd, but +100.

There's a Frank Underwood quote that goes with this kind of thing, I've found...

[Jefferson23]

18. Spread this story around please, for what its worth..we can at least try and do that. n/t

[appalachiablue]

62. The true SuperPredators we face.

[Kip Humphrey]

66. And, $400 billion are coming their way while the FCC throws $9.25 bones to the poor!

WIN, Bernie, WIN!

WE NEEED YOU!

[WDIM]

13. Hey they gotta pay back the wealthy donors some how.

When you are beholden to so many corporations how do you please them all at once? Give the tax dodgers a huge tax break.

[Tierra_y_Libertad]

19. They're going to screw us again and insist that getting screwed is really good for us.

[passiveporcupine]

39. I'm waiting to here the gnashing of teeth

from the Hillary supporters when she approves the TPP, if she's elected.

But there won't be any, because they are OK with any and all of her policies.

[pat_k]

22. Kick'n'rec (nt)

[liberal_at_heart]

23. So which social services will have to be cut in order to make up for the lack of tax revenue?

[Jefferson23]

25. That's another reason Clinton uses words like "pragmatic" "realistic"..why she says, I am

not going to promise you much of anything...her meaning, imo.

[liberal_at_heart]

27. I have friends who just lost their SSI and I have an autistic son who will be filing for SSI

very soon. I am absolutely done with any politician of any party that is willing to give tax breaks to the rich and cut social services. My vote will never again go to any politician who does that.

[Jefferson23]

28. Too many stories like that, and yet here we are. n/t

[JRLeft]

24. Hey you're going to be accused of being a purist.

[Jefferson23]

26. ha ha don't I know it.

[Jefferson23]

41. I would avoid it too if I were voting in the primary for her. How much more evidence does a person

need to know? If you're not directly benefitting from this shit legislation voting
for Clinton is voting for the next enabler in chief.

[JRLeft]

46. Hillary Clinton is for all of those corporate friendly policies.

[Jefferson23]

52. Yes and here is what I don't know..what if any, concessions she will agree to in order

to get Bernie's help for her winning the WH. I don't see how Bernie pulls off
a big win in Michigan, and it will only get tougher from here on out.

She may feel she does not need him, she certainly has the administration behind her and just
about every Dem governor etc. They can be rather arrogant and smug, so I don't know.

[JRLeft]

53. The primary is over....Hillary won.

[Jefferson23]

55. If they feel they don't need him much going forward that is risky politics. n/t

[JRLeft]

57. Look for Hillary to ignore Bernie and move into GE mode in a couple of weeks.

[AtheistCrusader]

68. Hillary supporters don't care about this issue.

They simply don't.

If they do, it's proportionally negligible, compared to the agenda of simply electing Hillary.

[Jefferson23]

73. I believe that is especially true of her DU members, yes. I'm not convinced

most Americans voters know about this deal and how it links to her politics.

[99th_Monkey]

69. Yes. A purist who "opposes vital infrastructure projects for poorest communities"

"The tax-forgiveness scheme could bring home hundreds of billions in supposedly “new” revenue for those vital projects.

For cynical politicians, the deal looks like a “twofer.” You can please constituents with infrastructure projects and reward corporate patrons in the same stroke."

[KansDem]

29. But...but...it'll trickle down, won't it? I mean, it'll...trickle down?

Trickle down? [font size="1"]Trickle down? it will, won't it? [font size="2"]

[bbgrunt]

30. K n R!!

[WillyT]

31. Huge K & R !!!

[lastone]

32. ... and the third way / DWS / DNC are all ok with this...

We need Sanders and a whole bunch of other actual progressives to run the tables this election, anything else is the same ole people selling the same ole crap.

[BuelahWitch]

83. Of course they are. It's good for the rich people

They are all rich people. Their friends are rich people. Everyone else can go fuck themselves.

[AzDar]

33. K & R

[jalan48]

35. Please chime in Hillary supporters.

[LibDemAlways]

43. The Hillary supporters on this board think she walks on water.

There is nothing she could do or say that would upset them in the least. it's as though they've moved to Stepford and have lost critical thinking skills.

I admit I don't favor every one of Bernie's positions 100%. I wish he was stronger on gun control. But I do know he has spent his public life fighting for people like me and he hasn't lined his pockets by taking corporate money from crooks. In this election year, we have a clearly defined choice between a candidate fighting for change and a candidate who's in bed with the people who sent the economy into the shitter in 2008. I'm with the guy who has my back.

[Enthusiast]

48. Massive +1!

[Jefferson23]

56. That's how I see it too, why go with the one who you know is compromised and is telling you

she will not release any info about her communications with WS. Then her hawking for
war, what is positive about her? I have my differences with Bernie as well, although not
much..but they pale in comparison to Clinton.

[passiveporcupine]

36. The wall street bailout was a big wet kiss that didn't stop them from anything

And now we want to do it again for corporations? Do we really think this will do anything to stop them from continuing this behavior?

We need a bigger set of balls. Sorry for the mental image, but it's the truth.

[AtomicKitten]

37. And the merging of the Dem Party and Repub Party on economic matters is almost complete.

[liberal_at_heart]

38. +1000000

[appalachiablue]

67. Check that.

[PatrynXX]

40. Why?

because some of them are Conservatives albeit just point me to known actual Liberals like Bernie otherwise it's just Conservatives who are hush hush

[Jefferson23]

42. I am asking if you would consider tweeting this to as many news outlets you can, they're

ignoring the story. Whatever we have become it is clear we'll have to fight our way
out of it without their help. It is really up to us.

[FailureToCommunicate]

44. “a giant wet kiss for the tax dodgers.”

[florida08]

45. Thanks Jeff

None of the FSTV programs I listen to have mention this.

[Jefferson23]

54. You're most welcome, please spread this around if you can..your elected reps, new outlets etc.

Let them know you know they're ignoring the story.

[florida08]

77. am on it- getting retweets already

[Jefferson23]

78. Great! Thank you. n/t

[Enthusiast]

47. K&R! This post deserves hundreds of recommendations!

This illustrates how completely the political establishment is out of touch. And this is why you should give no credence to those that cry for austerity measures to deal with the deficit.

[Jefferson23]

58. Please spread this around, we can at least do that and complain to your congressmen. n/t

[kristopher]

50. Spread the word. This is a good start.

[Jefferson23]

59. Yes, please do, as much as possible. n/t

[ejbr]

51. Key quote

"Most voters don't have a clue". Yes, we've seen who they are voting for

[Uncle Joe]

60. Kicked and recommended.

Thanks for the thread, Jefferson.

[Jefferson23]

65. You're always welcome. n/t

[rurallib]

61. Study: Congress doesn't care what you think

Remember that story from not long ago?

Have you ever felt like the government doesn’t really care what you think?

Professors Martin Gilens (Princeton University) and Benjamin I. Page (Northwestern University) looked at more than 20 years worth of data to answer a simple question: Does the government represent the people?

Their study took data from nearly 2000 public opinion surveys and compared it to the policies that ended up becoming law. In other words, they compared what the public wanted to what the government actually did. What they found was extremely unsettling: The opinions of 90% of Americans have essentially no impact at all.
https://represent.us/action/theproblem-4/

Just in case we forgot, they will give us occasional reminders.

[Jefferson23]

63. Thanks for adding it, much appreciate it and it's pertinent to say the least. n/t

[Vinca]

71. As we bicker and squabble, the truth is our votes are almost meaningless.

[Jefferson23]

79. It sure as hell can be discouraging but we all need to push back even more than before. n/t

[mhatrw]

72. OUR CURRENT POLITICAL $Y$TEM IS CORRUPT TO THE CORE

and here is the poster child for this corruption

[Jefferson23]

74. How does one reconcile that and vote for her when you have an alternative? n/t

[earthshine]

81. You Bernie supporters have some serious issues!

Whereas Hillary supporters practice elitist identity politics.

[Jefferson23]

82. ha ha good one.

[Duval]

75. I'll be glad to help spread this around.

Thank you, Jefferson23.

[Jefferson23]

76. Thank you too! n/t