CEO Council Demands Cuts To Poor, Elderly While Reaping Billions In Government Contra

Gotta just love the pigs dont we.....umm no I dont

The corporate CEOs who have made a high-profile foray into deficit negotiations have themselves been substantially responsible for the size of the deficit they now want closed. The companies represented by executives working with the Campaign To Fix The Debt have received trillions in federal war contracts, subsidies and bailouts, as well as specialized tax breaks and loopholes that virtually eliminate the companies' tax bills.
The CEOs are part of a campaign run by the Peter Peterson-backed Center for a Responsible Federal Budget, which plans to spend at least $30 million pushing for a deficit reduction deal in the lame-duck session and beyond.
During the past few days, CEOs belonging to what the campaign calls its CEO Fiscal Leadership Council -- most visibly, Goldman Sachs' Lloyd Blankfein and Honeywell's David Cote -- have barnstormed the media, making the case that the only way to cut the deficit is to severely scale back social safety-net programs -- Medicare, Medicaid, and Social Security -- which would disproportionately impact the poor and the elderly.
As part of their push, they are advocating a "territorial tax system" that would exempt their companies' foreign profits from taxation, netting them about $134 billion in tax savings, according to a new report from the Institute for Policy Studies titled "The CEO Campaign to ‘Fix’ the Debt: A Trojan Horse for Massive Corporate Tax Breaks" -- money that could help pay off the federal budget deficit.


CEO Council Demands Cuts To Poor, Elderly While Reaping Billions In Government Contracts, Tax Breaks

Re: CEO Council Demands Cuts To Poor, Elderly While Reaping Billions In Government Co

These types of people are the ones who push austerity the most as they don't have to feel the effects of it. Their kids will still get a top-notch education and they'll still have their 3 houses, yacht, and mercedes car. In their minds the only people who are getting screwed over are the peasants- you and me.

Re: CEO Council Demands Cuts To Poor, Elderly While Reaping Billions In Government Co

In my experiences with life I have noticed that the richest people are the most greedy. It's as if it's really not about the money but some sick game they play.

Case in point: I know a rich republican who has all the republican presidents posted on his wall. He made a fortune as a slum lord renting to mostly black people under section 8, who he has nothing but contempt for. He is a total hypocrite.

Re: CEO Council Demands Cuts To Poor, Elderly While Reaping Billions In Government Co

Its kind of intriguing actually. The left I mean. They say tax the rich to reduce the deficit but yet when you look at the deficit in the future - meaning future obligations - its not for the rich. Its for social security that was looted, medicare that is woefully unfunded and future retirement benefits of city, county, state and to some extent federal employees. The future debt is to the poor not to the rich at all. I wonder what that "poor" will do when they've destroyed the dollar? I think the rich will be fine.

lpast said:

Gotta just love the pigs dont we.....umm no I dont

The corporate CEOs who have made a high-profile foray into deficit negotiations have themselves been substantially responsible for the size of the deficit they now want closed. The companies represented by executives working with the Campaign To Fix The Debt have received trillions in federal war contracts, subsidies and bailouts, as well as specialized tax breaks and loopholes that virtually eliminate the companies' tax bills.
The CEOs are part of a campaign run by the Peter Peterson-backed Center for a Responsible Federal Budget, which plans to spend at least $30 million pushing for a deficit reduction deal in the lame-duck session and beyond.
During the past few days, CEOs belonging to what the campaign calls its CEO Fiscal Leadership Council -- most visibly, Goldman Sachs' Lloyd Blankfein and Honeywell's David Cote -- have barnstormed the media, making the case that the only way to cut the deficit is to severely scale back social safety-net programs -- Medicare, Medicaid, and Social Security -- which would disproportionately impact the poor and the elderly.
As part of their push, they are advocating a "territorial tax system" that would exempt their companies' foreign profits from taxation, netting them about $134 billion in tax savings, according to a new report from the Institute for Policy Studies titled "The CEO Campaign to ‘Fix’ the Debt: A Trojan Horse for Massive Corporate Tax Breaks" -- money that could help pay off the federal budget deficit.


CEO Council Demands Cuts To Poor, Elderly While Reaping Billions In Government Contracts, Tax Breaks

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Re: CEO Council Demands Cuts To Poor, Elderly While Reaping Billions In Government Co

CalGun said:

Its kind of intriguing actually. The left I mean. They say tax the rich to reduce the deficit but yet when you look at the deficit in the future - meaning future obligations - its not for the rich. Its for social security that was looted, medicare that is woefully unfunded and future retirement benefits of city, county, state and to some extent federal employees. The future debt is to the poor not to the rich at all. I wonder what that "poor" will do when they've destroyed the dollar? I think the rich will be fine.

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the rich will always get richer and the poor will always get poorer.

Re: CEO Council Demands Cuts To Poor, Elderly While Reaping Billions In Government Co

CalGun said:

Its kind of intriguing actually. The left I mean. They say tax the rich to reduce the deficit but yet when you look at the deficit in the future - meaning future obligations - its not for the rich. Its for social security that was looted, medicare that is woefully unfunded and future retirement benefits of city, county, state and to some extent federal employees. The future debt is to the poor not to the rich at all. I wonder what that "poor" will do when they've destroyed the dollar? I think the rich will be fine.

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Thats not true with me at all...Ive always said a balanced solution, meaning cutting loopholes for the rich, taxing Foriegn income to promote job creation here and reasonable changes to entitlements.

Re: CEO Council Demands Cuts To Poor, Elderly While Reaping Billions In Government Co

LiberalAvenger said:

the rich will always get richer and the poor will always get poorer.

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Thats another constant constant....its when the middleclass gets poorer and shrinks...thats why the country is in deep doo doo like they are right now...and the only thing that makes the middleclass poorer and smaller is when the rich go overboard and take too much...and thats exactly what they have been doing for 20 yrs

Re: CEO Council Demands Cuts To Poor, Elderly While Reaping Billions In Government Co

Cutting loopholes for the rich will likely cut jobs for the poor. Do you realize that? While the left is key on wanting to end the Bush era tax cuts and say its for deficit reduction that means no new jobs are created and if the rich was going to use that to create jobs - that is halted as well. That is a big "if" but since the government pledges to reduce deficit spending with it there is certain to be no job creation on that end. Or are we being lied too and there will be more spending by the government? You want to tax foreign profits? So why be an American company at all? That suggestion would cause many to locate their corporations out of America and ship their products here if they are desired.

Why not just impose a 5% sales tax on everyone and increase government revenue $600 billion so that the poor can keep the social services they've voted for and not ruin the dollar for everyone?

lpast said:

Thats not true with me at all...Ive always said a balanced solution, meaning cutting loopholes for the rich, taxing Foriegn income to promote job creation here and reasonable changes to entitlements.

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Re: CEO Council Demands Cuts To Poor, Elderly While Reaping Billions In Government Co

Really? If you look at the last 100 years of America the rich have gotten richer and the poor have gotten richer too.

LiberalAvenger said:

the rich will always get richer and the poor will always get poorer.

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Re: CEO Council Demands Cuts To Poor, Elderly While Reaping Billions In Government Co

CalGun said:

Cutting loopholes for the rich will likely cut jobs for the poor. Do you realize that? While the left is key on wanting to end the Bush era tax cuts and say its for deficit reduction that means no new jobs are created and if the rich was going to use that to create jobs - that is halted as well. That is a big "if" but since the government pledges to reduce deficit spending with it there is certain to be no job creation on that end. Or are we being lied too and there will be more spending by the government? You want to tax foreign profits? So why be an American company at all? That suggestion would cause many to locate their corporations out of America and ship their products here if they are desired.

Why not just impose a 5% sales tax on everyone and increase government revenue $600 billion so that the poor can keep the social services they've voted for and not ruin the dollar for everyone?

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Nope...taxes dont create nor eliminate jobs...and there is no trickle down from tax cuts...and the rich dont pay their fair share...off shore accounts and loopholes assure that...along with all the other govt gimmes that enrich them at the middleclass working class's expense...all while they enjoy slave labor in china and cheap labor in other companies...which produce GARBAGE products many times..
They are now realizing that all their outsourcing and taking jobs from americans out of greed has created another dilemna for them..now theres not enough americans with a job or a decent paying job to buy all the garbage products they need to sell...

Re: CEO Council Demands Cuts To Poor, Elderly While Reaping Billions In Government Co

That is an opinion but since I've seen the opposite as an employer first hand I will say your opinion is wrong.

lpast said:

Nope...taxes dont create nor eliminate jobs...and there is no trickle down from tax cuts...and the rich dont pay their fair share...off shore accounts and loopholes assure that...along with all the other govt gimmes that enrich them at the middleclass working class's expense...all while they enjoy slave labor in china and cheap labor in other companies...which produce GARBAGE products many times..
They are now realizing that all their outsourcing and taking jobs from americans out of greed has created another dilemna for them..now theres not enough americans with a job or a decent paying job to buy all the garbage products they need to sell...

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Re: CEO Council Demands Cuts To Poor, Elderly While Reaping Billions In Government Co

lpast said:

Thats another constant constant....its when the middleclass gets poorer and shrinks...thats why the country is in deep doo doo like they are right now...and the only thing that makes the middleclass poorer and smaller is when the rich go overboard and take too much...and thats exactly what they have been doing for 20 yrs

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Can you point to something outside your rhetoric that shows this "constant constant"? How do you know that the middle class shrinkage is to the poor side and not the rich side?

Millionaire Population Grows by 200,000 - The Wealth Report - WSJ

"The number of millionaires in America grew by 200,000 in 2011, according to a new report from Chicago-based Spectrem Group.

That sounds like a lot — especially with so many Americans still losing jobs and homes. But it represents a growth rate of only 2% – much slower than the growth in 2009 and 2010.

According to Spectrem, there are now 8.6 million households in the U.S. with a total net worth (minus principal residence) of $1 million or more. The number of households worth $5 million or more and $25 million or more also remained fairly flat, with growth of less than 2%. There are now 1,078,000 households worth $5 million or more and about 107,000 people worth $25 million or more."

also from the article:

"The report also broke down today’s millionaires by occupation and former occupation if retired. Managers make up the largest group, with 17%, followed by educators (12%), corporate executives (7%), entrepreneur/business owners (6%) and attorneys and accounts."

Educators, attorneys and accountants are easy jobs for someone who is poor to break into because they just need to go to school and there are plenty of grant/loan programs that can make that happen if they bother to apply themselves in a slightly above average way. One doesn't even need graduate school to become a CPA. While the overall number of millionaires is down since late 2008, there are still quite a few of them.

Re: CEO Council Demands Cuts To Poor, Elderly While Reaping Billions In Government Co

lpast said:

Gotta just love the pigs dont we.....umm no I dont


The CEOs are part of a campaign run by the Peter Peterson-backed Center for a Responsible Federal Budget, which plans to spend at least $30 million pushing for a deficit reduction deal in the lame-duck session and beyond.

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Hmmm 30 million could be donated to debt reduction:

Government - Gift Contributions to Reduce Debt Held by the Public

Re: CEO Council Demands Cuts To Poor, Elderly While Reaping Billions In Government Co

CalGun said:

Cutting loopholes for the rich will likely cut jobs for the poor. Do you realize that? While the left is key on wanting to end the Bush era tax cuts and say its for deficit reduction that means no new jobs are created and if the rich was going to use that to create jobs - that is halted as well. That is a big "if" but since the government pledges to reduce deficit spending with it there is certain to be no job creation on that end. Or are we being lied too and there will be more spending by the government? You want to tax foreign profits? So why be an American company at all? That suggestion would cause many to locate their corporations out of America and ship their products here if they are desired.

Why not just impose a 5% sales tax on everyone and increase government revenue $600 billion so that the poor can keep the social services they've voted for and not ruin the dollar for everyone?

Click to expand...

Cut ALL loopholes for corporations and the top 2% then we can discuss 5% sales taxs and entitlement reform...but the top has to come down some first...they are the ones that have gotten fabulously richer while everyone else suffers so they can be richer.

Re: CEO Council Demands Cuts To Poor, Elderly While Reaping Billions In Government Co

CalGun said:

That is an opinion but since I've seen the opposite as an employer first hand I will say your opinion is wrong.

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Over the years my wife and I have employed hundreds upon hundreds of employees...that argument will not work here

Re: CEO Council Demands Cuts To Poor, Elderly While Reaping Billions In Government Co

Fisher said:

Can you point to something outside your rhetoric that shows this "constant constant"? How do you know that the middle class shrinkage is to the poor side and not the rich side?

Millionaire Population Grows by 200,000 - The Wealth Report - WSJ

"The number of millionaires in America grew by 200,000 in 2011, according to a new report from Chicago-based Spectrem Group.

That sounds like a lot — especially with so many Americans still losing jobs and homes. But it represents a growth rate of only 2% – much slower than the growth in 2009 and 2010.

According to Spectrem, there are now 8.6 million households in the U.S. with a total net worth (minus principal residence) of $1 million or more. The number of households worth $5 million or more and $25 million or more also remained fairly flat, with growth of less than 2%. There are now 1,078,000 households worth $5 million or more and about 107,000 people worth $25 million or more."

also from the article:

"The report also broke down today’s millionaires by occupation and former occupation if retired. Managers make up the largest group, with 17%, followed by educators (12%), corporate executives (7%), entrepreneur/business owners (6%) and attorneys and accounts."

Educators, attorneys and accountants are easy jobs for someone who is poor to break into because they just need to go to school and there are plenty of grant/loan programs that can make that happen if they bother to apply themselves in a slightly above average way. One doesn't even need graduate school to become a CPA. While the overall number of millionaires is down since late 2008, there are still quite a few of them.

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Fisher I have posted that information about the middleclass far to many times here...to do it again...Im sorry im worn out posting the same evidence over and over and over and over...

Re: CEO Council Demands Cuts To Poor, Elderly While Reaping Billions In Government Co

You have my support. I've had many employees, I paid them generously and shared the profits with them. Even then, I still made good money and paid plenty of taxes without loopholes and had no problem doing so. I'm always surprised that the rich are so strongly defended by the not-rich. Except for a few thousand super-selfish CEOs, I think most high income people are very philosophical about their tax burden. If you make a million, you still keep about $670K which is far more than you need to live on.

So, there are the "rich" and the "selfish rich". The latter makes more noise. That's one of the reasons I didn't vote for Romney despite my disappointment with Obama. He was focused on having hundreds of millions and paying as little tax as possible so I felt that he would use the Presidency to cut himself tax breaks that he didn't need.

I don't know any billionaires but I'll guess most of them are happy enough to pay the taxes and still be billionaires.

lpast said:

Over the years my wife and I have employed hundreds upon hundreds of employees...that argument will not work here

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Re: CEO Council Demands Cuts To Poor, Elderly While Reaping Billions In Government Co

It wasn't an argument. It was a fact. In fact due to changes imposed by government my business reduced hours for people until some had to leave and they were not replaced. I don't care what your vast experience was mine was exact and in fact I'd have to say you are being obtuse to not recognize it as a fact. It leads me to think there is some personal jealousy being propelled by you to soak the rich / maybe punish them? The fact is the changes you think are prudent would cost plenty of people their jobs, and wouldn't even balance our budget. Such a scenario will simply hasten our demise. Maybe that's your goal?

lpast said:

Over the years my wife and I have employed hundreds upon hundreds of employees...that argument will not work here

Click to expand...

Re: CEO Council Demands Cuts To Poor, Elderly While Reaping Billions In Government Co

CalGun said:

Cutting loopholes for the rich will likely cut jobs for the poor. Do you realize that? While the left is key on wanting to end the Bush era tax cuts and say its for deficit reduction that means no new jobs are created and if the rich was going to use that to create jobs - that is halted as well. That is a big "if" but since the government pledges to reduce deficit spending with it there is certain to be no job creation on that end. Or are we being lied too and there will be more spending by the government? You want to tax foreign profits? So why be an American company at all? That suggestion would cause many to locate their corporations out of America and ship their products here if they are desired.

Why not just impose a 5% sales tax on everyone and increase government revenue $600 billion so that the poor can keep the social services they've voted for and not ruin the dollar for everyone?

Click to expand...

That scare tactic is worn out. Time has proven it wrong.

Re: CEO Council Demands Cuts To Poor, Elderly While Reaping Billions In Government Co

Mr. Invisible said:

These types of people are the ones who push austerity the most as they don't have to feel the effects of it. Their kids will still get a top-notch education and they'll still have their 3 houses, yacht, and mercedes car. In their minds the only people who are getting screwed over are the peasants- you and me.

Click to expand...

Do you enjoy your class warfare?

Re: CEO Council Demands Cuts To Poor, Elderly While Reaping Billions In Government Co

Only to those who can't see the trees through the forest. Ask private air craft companies, those in the hospitality trade, and many others. There aren't enough government phat cat conventions to keep them going.

LiberalAvenger said:

That scare tactic is worn out. Time has proven it wrong.

Click to expand...

Re: CEO Council Demands Cuts To Poor, Elderly While Reaping Billions In Government Co

Mycroft said:

Do you enjoy your class warfare?

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Tell me, where am I wrong?

Re: CEO Council Demands Cuts To Poor, Elderly While Reaping Billions In Government Co

CalGun said:

Only to those who can't see the trees through the forest. Ask private air craft companies, those in the hospitality trade, and many others. There aren't enough government phat cat conventions to keep them going.

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I'll ask them immediately, if not sooner.:roll:

Re: CEO Council Demands Cuts To Poor, Elderly While Reaping Billions In Government Co

I might agree with you if your argument was regarding regulations. Certainly our excessive bureaucracy costs millions of jobs. There are many products that aren't made in Americxa at all due to EPA, OSHA and similar agencies.

But I don't agree that personal income tax is a factor in so much as one job. Income taxes are paid on your net income. If your company nets 10 million a year, you'll want to make that 10 million or more rehardless of your tax rate. Until the tax rate becomes 100%, every dollar you earn puts more money in your personal pocket.

The reason for low wages and layoffs in recent years is unrelated to taxes which are at historic lows. It's because business is slower. We don't have any more temporary rich people because those houses that were worth a million in 2005 are now worth less than they were bought for. Also, the mu;lti-year shopping spree the housing bubble caused ius over - how many flat screens can you possibly need? Also, with high unemployment its easy to screw your employees, never give raises and double up workloads and SOME companies have taken advantage of this to squeeze out more profit - on which the don't mind giving up the taxes on.

Can you honestly say you let go of employees because you wanted to make less money so you could pay less tax? I doubt that.

((this is a respectful conversation and NOT any kind of personal attack))

CalGun said:

It wasn't an argument. It was a fact. In fact due to changes imposed by government my business reduced hours for people until some had to leave and they were not replaced. I don't care what your vast experience was mine was exact and in fact I'd have to say you are being obtuse to not recognize it as a fact. It leads me to think there is some personal jealousy being propelled by you to soak the rich / maybe punish them? The fact is the changes you think are prudent would cost plenty of people their jobs, and wouldn't even balance our budget. Such a scenario will simply hasten our demise. Maybe that's your goal?

Click to expand...

Re: CEO Council Demands Cuts To Poor, Elderly While Reaping Billions In Government Co

So their children will get a top education. They will likely pay for that education privately and still pay the taxes required for public schools.

Why do you have a problem with how they spend their wealth? A yacht can help create a number of good jobs for maintenance, security, dock management etc. You seem to have an envy. These people already pay for the vast majority of Americas burdens and you expect more?

I really look forward to the day the rich start leaving the governments like California and our nation behind. Take their wealth and enjoy it some where free of this hate and wanton jealousy.

Mycroft said:

Do you enjoy your class warfare?

Click to expand...