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As the economy performed better over the summer than first calculated, according to today's Commerce Department report, U.S. companies turned in record profits for the third quarter — nearly $1.66 trillion, the New York Times notes.
Originally posted by pirhanna
And yet the American working class still gets it in the (**
What does the average American have to show for that record profit?
1. more lost jobs
2. longer hours
3. attempts to increase retirement age
4. TSA Groping (ok just had to throw that in somewhere)
5. lower wages
6. part time employment
7. reduction of jobless benefits
8. an insurance bill that doesn't make insurance more affordable but does make you buy it
9. the destruction of savings so that the elite can reap the benefits of taking your property for pennies on the dollar
10. a bunch of rich a-holes laughing at you all the way to the bank where they own you and your property.
You do need to research further because the truth is that most of these corporations this article is talking about pay little to no taxes yearly, because of all of the loopholes they have been afforded. The Republicans BS that their taxes are too high is just not true. Go to the IRS web site and do some research and you will find this to be the truth. ExxonMobil, as one example, made huge profits last year, got government subsidies, that all oil companies get and paid exactly ZERO in taxes last year. Bank of America took bailout money, made huge profits and paid ZERO in taxes last year. This is just two of many that this is true for. This has been a constant untruth that the Republicans have been pedaling to us for years now. Huge tax burdens are not the reason, and in fact the Dems tried to get a bill passed that would close up some of the loopholes that companies that ship our jobs out are getting every year for doing so, and the Rethugs filibustered it like they do everything. (source)