Job Creators!

Apparently America’s biggest tax-dodging corporations spend more money on lobbying than they do on taxes:

A report released this month by Public Campaign demonstrates just how important it is for Americans to battle corporate special interests and reclaim our democracy. The group’s research finds that thirty big corporations actually spent more money lobbying the federal government between 2008 and 2010 than they spent in taxes. For example, General Electric — one of the top 10 most profitable companies in the world — got a net tax rebate of $4.7 billion during this period. Meanwhile, it spent $84 million lobbying the federal government.

How much do you want to bet that a lot of this money is spent lobbying against taxes which they don’t pay anyway? Here’s the graphic:

Meanwhile, in that time GE has:

• Closed its Virginia lamp plant and moved it to China ….

• Moved its x-ray division from Wisconsin to China

• Cut 600 jobs from its Lynn, MA aircraft engine plant …and demanded $25 million in tax credits from the State of Massachusetts to keep from cutting any more. (Extortion, much?)

Also in this time period:

• Verizon has cut 16,000 jobs in two years.

• PG&E cut 225 jobs last month. In 2009 they laid off 500 workers.

• Number four on this list, Wells Fargo, laid off hundreds this spring. All part of a plan to

… reduce about $1.5 billion quarterly operating expenses.

Really? You’re not going to cut what you spend on lobbying the federal government? You’re going to cut jobs, instead?

Someone remind me: we’re sucking up to these people because why?

3 Comments

Filed under corporations, lobbyists, taxes

3 responses to “Job Creators!

  1. deep cap

    Wow, GE is making such huge profits I bet they must be really generous with their stock holders! I should invest.

    Except, no wait, they still are giving half as much as they did before 2009 in dividends and their stock has been mostly flat otherwise. Where are all the profits going then, if not to the shareholder/owners? Oh right, the lying thieving board of directors and their cronies.

  2. Randy

    I’m surprised Tax Dodging hasn’t gotten a reality show…or a stadium.

  3. themadkansan

    BOOTSTRAPS!FREEMARKET!EBILGUMMINT!!!!!!1

    …oh, sod it. I just don’t have the skeeviness in me for it…