Abusive corporations are burglarizing millions of dollars from our paychecks in every state in America. Currently there is a corporate tax loophole so large you could fit 10 sperm whales through it.
There is money sneaking out of every tax payer’s paycheck disguised in the form of ?welfare,” corporate welfare that is. Now, when you ponder? the word welfare in its purest form, what comes to your brain? The first words that rise to the surface for me are food stamps, poverty relief, and stress relief.
What if I told you that some of the biggest corporations in America, who also have some of the highest paying CEO?s, are granted ?tax amnesty? disguised as ?corporate welfare?”? Common sense might insinuate that corporate welfare is given to companies when they are going under, right? If you apply the true definition of welfare to corporations, you would suspect that the company is in some sort of financial ruin.
Well, guess again. Corporate law allows giant companies to receive subsidized pay (tax exemptions) to its higher level executives totally irrelevant to the ?performance? of an employee of a company. This gastronomical loophole in corporate tax law is quite detrimental to the average tax payer and the general debt of the United States of America. Just to make a quick clarification, regular welfare is more stimulating for the economy than ?corporate welfare? is.
Let’s take the biggest scoundrel of them all for example, Stephen Hemsley, a CEO at UnitedHealth group. He recently received 194 million dollars in deductible ?performance based pay? in the form of stocks, which he cashed in. You might think, ?What does that have to do with me and you?” Well, out of those 194 million dollars, he received tax relief on 68 million dollars of it. That means that you and I, the average taxpayers, have to fork out his bill! In movies they always portray bank robbers and thugs as the ultimate conmen, but I am here to tell you that big companies use deceptive language regarding loopholes rather than guns to pull off their bank heists.
Why is Mr. Hemsley, who receives 194 million dollars from his public company given such an astronomical tax break? Why do we have to pay his lavish bill? Does it make sense that taxpayers pay for his savings account? I guess the government isn’t in any rush to sew up this loophole, because they get their money one way or another. If it isn’t from Mr. Hemsley, then it comes out of all of our pockets.
Let’s also not forget the wonderful lobby campaign that’s under way called ?Fix the Debt,” which is a ruse to divert attention away from tax evasion.
How dare these companies promote a campaign that is supposed to be altruistic, when companies that are a part of this ?Fix the debt? program are directly linked to the exploitation of the tax payer. How dare they say that my social security be reduced when they receive tax breaks in the millions?
There are a total of 90 companies that qualify for performance-based pay tax relief. Out of those 90 companies, 88 of them have fraudulently exploited this loophole. Many of these corporations voice to the media through the Fix the Debt campaign that there needs to be spending cuts in social security and other governmental programs, when they themselves are partying on tax payer funds. What an outrageously audacious statement to make. This tax loophole needs to be closed asap or these mammoth corporations will find a way to shred the loophole apart into common practice in relation to corporate law.
The wild, wild west in terms of corporate tax, is going to be coming to a halt. The people are tired of picking up the tab. It’s time for those on illegitimate expenditure adventures and extended vacations to be brought down from their thoroughbred steeds and walk more humbly amongst the rest of us in society. In a nation recovering from a recession, there should be zero tolerance for those exploiting the governmental tax system, especially on catastrophic levels such as these.
The most perturbing part of it all is that the committee members that are promoting the Fix the Debt program are the very scoundrels that are stealing our tax dollars. If this isn’t a ruse then I don’t know what is. Here is a list of the top 10 most vicious CEO corporate tax thieves on file in order from most sinister:
1. Stephen J. Hemsley UnitedHealth Group
2. David M. Zaslav Discovery Communications
3. Ivan G. Seidenberg* Verizon
4. George Paz Express Scripts Holdings
5. Michael Jon Ward CSX
6. Alexander M. Cutler Eaton
7. David M. Cote Honeywell
8. Laurence Douglas Fink BlackRock
9. Paul E. Jacobs Qualcomm
10. J. Willard Marriott, Jr Marriot hotels
These ten CEO executives made a recently combined tax relief of 271,100,396 dollars. That’s just over 271 million dollars in tax welfare from the government i.e. from you and me! Remember this is just the top ten. Another confusing question I have bubbling up is why is it that I found 8 out of these 10 CEO’s on the committee for the ?Fix the Debt? program? Here is a link for all of the board members of the misleading program entitled ?Fix the Debt.”
My concern isn’t the fact that these CEO’s are making millions of dollars, but the source of my rage comes from the fact that their hyper bonuses are at the expense of the tax payer. I’m exhausted as a tax payer and citizen of the United States of America and am tired of being pushed around and bullied by big companies that lower the quality of my life. If these CEO’s think that they can enjoy the pillaging of paychecks from my fellow countrymen for many years to come then they are mistaken and better start cashing out now!
Edited by AEK
Written By: C.W.Grima
Published by CB
