What the CEOs Lobbying on the Fiscal Cliff Really Want

[xchrom]

http://www.thenation.com/blog/171500/what-ceos-lobbying-fiscal-cliff-really-want


CEOs from several big corporations meet with House Republican leaders on November 28, 2012, in Washington. Photo courtesy of the Office of the Majority Whip.

A merry band of corporate executives is zig-zagging Washington today, meeting with almost every principal player in the “fiscal cliff” negotiations. The CEOs are meeting with administration officials at the White House, with House Speaker John Boehner, and with House Minority Leader Nancy Pelosi.

According to most press accounts, these business titans are “pressing for a solution to the so-called fiscal cliff” (Bloomberg), while “touting the virtue of bipartisanship and shared sacrifice” (The Washington Post).

But what’s important to understand—what every press account of these meetings should note—is that they’re not, in practice, proposing any sacrifice from their companies in particular nor their industries in general.

Key planks of their proposals, explicitly articulated by the Fix the Debt campaign and other industry coalitions pushing for a deal, include a lower corporate tax rate—even though many of these companies pay little or no corporate taxes as it is. Then there’s a territorial tax system, which would allow corporations that have profits parked overseas to bring them back home without paying any taxes. (Right now, they’d be obligated to pay the normal 35 percent corporate tax on those profits if they were repatriated). Some, but not all, of the CEOs also want the Bush tax rates extended for all earners.


*** i can't help but note the painting in the background.

[Angry Dragon]

1. If they want shared sacrifice then it is time to limit CEO salary to

not be above what the President makes

[Berlum]

2. Republicans on their knees slobbering all over Corporate Keester As usual.

Disgusting to see these Republican men debase themselves on their knees again and again and again, turning their back on Americans to do the slavish B & D bidding of their Corporate Masters to screw the citizenry and further enrich a few already filthy rich.

Republicans against Americans, as usual, with their standard shameful Corporate Brown-Nosing.

[northoftheborder]

3. "Shared sacrifice", but they want to be exlcuded from "sharing". Give me a break.

[Wellstone ruled]

4. Wow,the picture in the background

should have been covered so the true meaning of this so called meeting ended. It's all about the 67 trillion of dark money flooting around the world that Wall Street wants to bring home free. Nothing more nothing less,that was their reason for their Willard support.