Corporate CEOs Admit What We Already Know: Tax Cuts Do Jack Shit for the Economy
File this one under D for 'Duh':
Robert Bradway, chief executive of Amgen Inc., said in an Oct. 25 earnings call that the company has been “actively returning capital in the form of growing dividend and buyback and I’d expect us to continue that.” Executives including Coca-Cola CEO James Quincey, Pfizer Chief Financial Officer Frank D’Amelio and Cisco CFO Kelly Kramer have recently made similar statements.
“We’ll be able to get much more aggressive on the share buyback” after a tax cut, Kramer said in a Nov. 16 interview.
U.S. voters disapprove of the Republican tax legislation by a two-to-one margin, according to a Quinnipiac University poll released Nov. 15, and corporate promises to return any windfall to investors aren’t helping the White House sales effort. The Trump administration has appeared flummoxed. At a Nov. 14 speech to the Wall Street Journal CEO Council by Trump’s top economic adviser, Gary Cohn, the moderator asked business leaders in the audience for a show of hands if they planned to reinvest tax cut proceeds. Few people responded.
And to think, this has literally been 'Murica's economic policy for 4 straight decades. Pump and dump slush funds are the only purpose Wall Street and charity rackets serve nowadays.
Meanwhile, Wisconson fucks over its teachers.
[video:https://www.youtube.com/watch?v=S01n99Liru0]
And of course, there's the Net Neutrality bullshit that will no doubt end in corporate...I'm sorry, 'libertarian' victory no matter what the rest of us plebs do.
This seems to be the case with every single issue locally or nationally. No one gives a shit either because they're rolling in piles of cash or are to busy trying to survive on ever shrinking subsistence wages. And to make things worse, many would rather continue sucking dick for said wages than to allow any real chance to fight back. They'd rather blame Millennials, or immigrants, or any other group already marginalized by the Corporate State for why they're still temporarily embarrassed billionaires.
Fuck this shit.
See ya around,
Aspie
Comments
Well, you know, "unions promote
mediocrity," and we can't have that in Murka. A friend who is definitely part of the 1% said that to me back in 2010 when Scott Walker was setting this up. I blew at her in a bar, pretty loudly, and I do remember saying very loudly that "liberal" is NOT a dirty word. Yes, I used Liberal, which I would heavily caveat now of course, but damn that pissed me off. Her own mother was a unionized school teacher, for fuck's sake and they did not grow up anywhere near rich. She's as blind as my own RWNJ family is, too steeped in "American exceptionalism" to see what she and others just like her are doing to the rest of the world. Idiot.
Only a fool lets someone else tell him who his enemy is. Assata Shakur
I had a guy in a few classes who was similar in mindset.
Except he wasn't rolling around in money. Huge follower of guys like Glenn Beck. Even went to that little 'I Have A Scheme' speech he gave in DC. This guy would give the current crop of Corporate Dems a run for their money with his blatant red-baiting in every single conversation we ever had. That was six years ago and I never saw him again after I finished college.
I also find the whining about mediocrity ironic because these same assholes are the very definition of the word mediocre.
Modern education is little more than toeing the line for the capitalist pigs.
Guerrilla Liberalism won't liberate the US or the world from the iron fist of capital.
The dimmitude of conservative "solutions" is impressive.
From Mother Jones:
From Scott Walker yesterday:
Because the way to attract young workers is to explicitly make Wisconsin one of the most anti-labor states in the nation.
The earth is a multibillion-year-old sphere.
The Nazis killed millions of Jews.
On 9/11/01 a Boeing 757 (AA77) flew into the Pentagon.
AGCC is happening.
If you cannot accept these facts, I cannot fake an interest in any of your opinions.
This is the end game of the corporate coup
this has been planned for decades and ever since FDR passed the new deal. The PTB have wanted their taxes cut for so long and now that they have their lackey in power and republicans conveniently own both houses, this is their time to do it. They have wanted to privatize social security or get rid of it as well as the other 'entitlements' that they say are draining the budget. Funny isn't how by creating the deficit with the tax cuts gives them the opportunity to cut everything that they have wanted to get rid of.
Remember when democrats held power and still republicans were able to block everything they wanted to pass? Funny how when democrats aren't in power they can't do the same thing.
Just another game of the Washington Generals and the Harlem Globetrotters.
Which AIPAC/MIC/pharma/bank bought politician are you going to vote for? Don’t be surprised when nothing changes.
Voting is like driving with a toy steering wheel.
Think we could get the CIA to fund a revolution here...
if we just gave em an Iranian P.O. Box number to send the checks to?
I do not pretend I know what I do not know.
Jimmy Dore and Richard Wolff on Income Inequality
[video:https://www.youtube.com/watch?v=zHZIVrwOS7Y]
Modern education is little more than toeing the line for the capitalist pigs.
Guerrilla Liberalism won't liberate the US or the world from the iron fist of capital.
Thanks, Aspie.
Great video.
"We'll know our disinformation program is complete when everything the American public believes is false." ---- William Casey, CIA Director, 1981
snoop
your so right,i always wondered why the GOP can get what they want,DEMS not so much
DW
@LEFTYFRIZZLE The short answer is Dims
The short answer is Dims look for consensus and Rebs take no prisoners.
In a tug of war the Dims always step toward "the middle", no matter how far rightward it has become, and the Rebs are always pulling it "rightward".
Look at Obama's "Grand Bargain" in his first term. The TeaParty saved him from himself. SS was on the auction block, but it wasn't enough for the TP. They still got "97% of what they wanted". And that was with a Dim Senate, and maybe a small majority in the House...
@BORG_US_BORG
Lol, I personally see it as a 'good cop/bad cop' act to give some fictional veneer of democracy for those who want to believe it's out there, somewhere in America.
Psychopathy is not a political position, whether labeled 'conservatism', 'centrism' or 'left'.
A tin labeled 'coffee' may be a can of worms or pathology identified by a lack of empathy/willingness to harm others to achieve personal desires.