Maintaining Vigilance: The Corporate CEO, the Middle Class, and Taxation

[Donnachaidh]

http://www.addictinginfo.org/2011/09/01/maintaining-vigilance-the-corporate-ceo-the-middle-class-and-taxation/



It should be a surprise to no one that the nation is paying a great degree of attention to compensation levels of corporate or organization CEOs. Over the past week, I have personally read five articles related to CEO compensation and within the past few months, I have written at least one article about their increasingly “over-the-top” levels of compensation.

It is also critical that we remain aware of the cuddly relationships between these conglomerate leaders and the nation’s conservative political entities (conservative independents, GOP, and the GOTP). While CEO compensation grows to levels that surpass astronomical, you and I face ever-present prospects of unemployment, lower wages if employed, and increased taxation based on GOP agendas and continued renewal of the Bush tax cuts during the last decade. It was reported, this week, that many corporations pay their CEOs more than the organization pays in federal taxes.

Few who read this article will question the aforementioned factual relationship between the GOP and the nation’s corporations or corporate interest. Favorable tax codes for big business and a more recent Supreme Court decision that legalized campaign sponsorship (Citizens United) provide clear evidence of a cozy and imbalanced relationship. If any reader continues to question the veracity of my previous statements, the reader should simply view a 1:46 minute undercover video of Eric Cantor, House Majority Leader, behind closed doors with a group of Wall Street oil speculators. Cantor was, without a doubt, providing “I’ve got your back” comments to a group of people who might be the root cause, but are certainly contributors, to our high gasoline prices. Cantor was decrying consumer protection legislation such as Dodd-Frank legislation; kind of cozy, eh?

The current socioeconomic environment provides the opportunity for even cozier relationships between legislators and Corporate America. The middle class is carrying the tax load for the nation. Corporate America spends huge amounts of capital on tax avoidance and favorable tax treatment via lobbyist and campaign contributions. The GOP rails about how President Obama is “out-of-control” while it, through the elected officials, works diligently to provide the current favorable environments for Corporate America. Examples include: favorable tax laws, favorable export laws and tax breaks for off-shoring jobs.

More at the link --