In his latest album, "The Monsanto Years," the longtime champion of farmers’ rights offers a sharp criticism of the agrochemical giant.
“You shouldn’t get to call yourself an American company only when you want a handout from the American taxpayers,” President Obama said Thursday.
You work hard. You pay taxes. But 26 corporations don’t -- or at least they didn’t between 2008 and 2011. General Electric, Boeing and Verizon were among the major companies that together enjoyed more than $78 billion in tax subsidies over the last four years, according to a report by Citizens for Tax Justice.
An analysis by Public Campaign reveals that between 2008 and 2010, 30 of America's most profitable companies, including Verizon, Wells Fargo, FedEx, GE and Mattel, spent more money buying influence in Washington than they did paying taxes. (Full list after the jump.)
Of course it will be argued that multinational corporations have the right to arrange their businesses as they see fit in order to maximize profit. But if that is the case, do beleaguered American taxpayers have to foot the bill?Big government is big precisely because it is so active in so many costly ways in serving the interests of our biggest corporations.
Maximizing corporate profits at taxpayers' expense is what top CEOs are good at, and after all it was Jeffrey Immelt who presided over GE when it got so heavily into the subprime mortgage business that it needed a government bailout to avoid bankruptcy. This was before Obama made him a trusted adviser.Overdrive, with CEOs like GE's Jeffrey Immelt shifting the gears, is what brought us so close to the brink.
It's no secret that Keith Olbermann and Bill O'Reilly don't get along, but the two TV personalities have drastically scaled back their attacks on one another ever since a private meeting between GE and News Corp. CEOs determined the feud was bad for the bottom line.