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The Corporate Jig: No Taxation, Extravagant Representation | Fired Up! Missouri
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The Corporate Jig: No Taxation, Extravagant Representation

Before gasbaggery clouds the post-debate discourse, step away from the spinning fog and consider the intersections of health care, education, and the economy I have been trying to represent in this space since September 2. Like it or not, we really are all in the same boat--100 percent of the 100 percent.

As a conceptual lever, think about the numbers in the table below, gathered by esteemed educator and researcher David Berliner in an article you need to read (the link is below). 

Corporate profits, taxes paid, and rebates obtained between 2008-2010 (McIntyre, Gardner, Wilkins, & Phillips, 2011)

 

       

Corporation

Name

Profits

Taxes

Paid

Rebates

Obtained

General Electric

$10,460,000,000

ZERO

$4,737,000,000

Verizon

$32,518,000,000

ZERO

$951,000,000

Boeing

$9,735,000,000

ZERO

$178,000,000

Wells Fargo

$49,370,000,000

ZERO

$681,000,000

Honeywell International

$4,903,000,000

ZERO

$34,000,000

http://www.tcrecord.org/Content.asp?ContentID=16889

 

Berliner reports:

"The USA has an extremely low tax rate compared to any of the OECD countries, the wealthier countries of the world. Only two countries pay a lower rate of taxes relative to Gross Domestic Product, while 29 countries pay more in taxes, and countries like Denmark, Finland, France, Italy, Norway, and Sweden, pay about 75% more in taxes than we do to support civic life (Citizens for Tax Justice, 2011). This provides the citizens of those countries such things as free preschools; medical, dental and vision care; support for unemployed or single women; no food insecurity among the poor; free college if you pass the entrance examination; and so forth.

 

Beyond the low tax rate, the USA also has many highly profitable corporations that pay less than nothing in taxes. That is, they not only pay no taxes, they get rebates! Table 3 shows that much more tax revenue should be obtainable from U.S. corporations if we would elect politicians who understand that the commons will disappear if corporations are not contributing to its maintenance.

 

Berliner also writes this:

 

Powerful social forces exist to constrain the lives led by the poor, and our nation pays an enormous price for not trying harder to ameliorate these conditions. 

 

Which he wrote right after this: 

 

 

Most children born into the lower social classes will not make it out of that class, even when exposed to heroic educators. A simple statistic illustrates this point: In an age where college degrees are important for determining success in life, only 9% of low-income children will obtain those degrees (Bailey & Dynarski, 2011). And that discouraging figure is based on data from before the recent recession that has hurt family income and resulted in large increases in college tuition. Thus, the current rate of college completion by low-income students is probably lower than suggested by those data. Powerful social forces exist to constrain the lives led by the poor, and our nation pays an enormous price for not trying harder to ameliorate these conditions.

 

 

 

 

 

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