Oh the price of gold is rising out of sight
And the dollar is in sorry shape tonight
What the dollar used to get us
Now won’t buy a head of lettuce
No the economic forecast isn’t right
But amidst the clouds I spot a shining ray
I can even glimpse a new and better way
And I’ve demised a plan of action
Worked it down to the last fraction
And I’m going into action here today
CHORUS:
I am changing my name to Chrysler
I am going down to Washington D.C.
I will tell some power broker
What they did for Iacocca
Will be perfectly acceptable to me
I am changing my name to Chrysler
I am headed for that great receiving line
So when they hand a million grand out
I’ll be standing with my hand out
Yes sir I’ll get mine
When my creditors are screaming for their dough
I’ll be proud to tell them all where they can all go
They won’t have to scream and holler
They’ll be paid to the last dollar
Where the endless streams of money seem to flow
I’ll be glad to tell them what they can do
It’s a matter of a simple form or two
It’s not just renumeration it’s a liberal education
Ain’t you kind of glad that I’m in debt to you
CHORUS
Since the first amphibians crawled out of the slime
We’ve been struggling in an unrelenting climb
We were hardly up and walking before money started talking
And it’s sad that failure is an awful crime
Well it’s been that way for a millenium or two
But now it seems that there’s a different point of view
If you’re a corporate titanic and your failure is gigantic
Down to congress there’s a safety net for you
CHORUS:
I am changing my name to Chrysler
I am going down to Washington D.C.
I will tell some power broker
What they did for Iacocca
Will be perfectly acceptable to me
I am changing my name to Chrysler
I am headed for that great receiving line
So when they hand a million grand out
I’ll be standing with my hand out
Yes sir I’ll get mine
Hey, I thought America had the highest corporate taxes in the world! Oh, that’s right - just because we have the taxes doesn’t mean the corporations actually pay them.
So, I guess I’ll have to keep paying the taxes for the banks, the utilities, the media, and on and on…
Shoulda changed the name to “Soros.” He doesn’t pay anything, either, as all his holdings are offshore.
Yet he is probably the most powerful, not to mention richest, man behind the scenes and pulling this administration’s strings.
BTW: Corporations, in practice, don’t pay taxes, per se.
All “corporate taxes” paid to the government are just a “cost of doing business” and is passed on to the consumer, you and me, in the form of product prices.
The fiction of “corporate taxes” is just that!
Also, when the item is sold, sales taxes are collected on the item which means it is double taxed, and, in effect, a tax on a tax. Contra-Constitutional.
earlier comment:
IT pays to be friends with Obama. YOU don’t.
you mean he not only pals around with domestic terrorists,
he pals around with corporation executives and gives them tax breaks?
wow! the evil of this man is beyond comprehension
Guys, GE made record profits this year. They also managed to organize their revenue such that the US owes THEM money. For all this “companies pass their costs onto consumers” nonsense you spout, taxes ARE part of the cost of business. If nothing else, they use our national resources! GE makes large items that go down our highways, remember? They put plants here where it is protected by our military. Their people get the rights of anyone resident in or a citizen of the US. Should they pay nothing? Talk about the illegal aliens!
Not to mention the industries that get to use national lands for a pittance: loggers, oil drillers, miners. Shouldn’t they pay for their land and access the way private individuals must?
If we should pay taxes to support the efforts of our government, so should they. As for you who seem to think corporations should pay nothing, you’re costing US money. And our government, as corporations start to control it anyway.
Oh, and jmattadams - that WAY predates Obama. Get your freakin’ facts straight.
Oh, and for those of you who are actually fact based:
http://www.nytimes.com/2011/03/25/business/economy/25tax.html?_r=2&hp
Be sure to read how Reagan objected to this practice from the company he was a spokesman for.
and where’s the list of the structural flaws in designs of General E’s liquid metal fast breeder Nuclear Reactors? And how many of them are in the USA? And where are they?
MM,,, Good article/link. As for the 1986 tax reform act of Reagan’s, It and other Gov’t regulations caused me to pay up to 48% of my retirement income in Federal income taxes for 1987. Top rate was 38%!… If I had received over $500,000 I would have paid no tax penalties on a lump sum disbursement.
There’s a lot of confusing details here, but the “bottom line” is that the top of the wealth pyramid is still drawing off almost all of the economic growth at an alarming and accelerating pace, while the job market - and those that work for a paycheck, or want to - is still sinking. “… for the last 10 years . . ” Try 40 years.
It ain’t just GE. 2/3 of American corporations paid not taxes from ‘98 til 2005 (latest available figures - to Taibi article). Locally, ask how much property tax Intel, Iberdrola, and other corporations paid– like “0”. In some case they dodge with “payments” far less than potential local taxes. Those “payments” used to be called “bribes”.
The real “tax revolt” got more support from Reagan’s policies (even though he did try to tax GE), and the runaway train- hmm, how much did CSX pay?
Sorry, but any form of “sales tax” is far more regressive than income tax. Property taxes are also regressive in that people are penalized if they pay off their homes, have limited incomes, and “flippers” and “speculators” artificially drive up the “value” of their homes. When “inflation” is under 3%, and HOUSING is going up 20% annually, based on phony loans from banks only available because of deregulation, “social conservatives” need to pay more attention to math, and REAL “FISCAL conservatism”.
Yes, only spend what you “earn”, but those “earnings” need to come from those who have the ability to contribute when it comes to “government”.
I HAVE blamed the Dems for extending the Bush tax-cuts Tig….I’ve repeatedly criticzed them for caving in to the R’s
But if you’re so big on consistency, how come we’ve never seen YOU applaud Obama and the Dems for voting to extend the Bush tax cuts?
Or anything else for that matter?
And btw, this is the second time today a rightie responded to that post by trying trying to change the subject. ( I put it up on another forum besides this one. )
Whether or not Obama and the Dems went along with the Bush tax cuts has NOTHING to do with the way the cons changed their tune on taxing corporations as soon as they found a way to blame Obama for GE getting off Scot-Free.
Simple fact: Republicans were behind the legislation that gave most of the tax “escapes” to the wealthy, and especially corporations. Though the Dems went along, it is ludicrous to blame Obama for GE or any other corporation/firm’s skating on taxes- it IS after all the definition of “Reaganomics”. It was also key to the absurd inflation in the housing market, and giving loan agents, LIKE GE! the opportunity to hide their “earnings”, more effectively than Long John Silver ever thought possible.
tbetz about 13 years ago
I’m Changing My Name to Chrysler by Tom Paxton
Oh the price of gold is rising out of sight And the dollar is in sorry shape tonight What the dollar used to get us Now won’t buy a head of lettuce No the economic forecast isn’t right But amidst the clouds I spot a shining ray
I can even glimpse a new and better way And I’ve demised a plan of action Worked it down to the last fraction And I’m going into action here today
CHORUS: I am changing my name to Chrysler I am going down to Washington D.C. I will tell some power broker What they did for Iacocca Will be perfectly acceptable to me I am changing my name to Chrysler I am headed for that great receiving line So when they hand a million grand out I’ll be standing with my hand out Yes sir I’ll get mine
When my creditors are screaming for their dough I’ll be proud to tell them all where they can all go They won’t have to scream and holler They’ll be paid to the last dollar Where the endless streams of money seem to flow I’ll be glad to tell them what they can do It’s a matter of a simple form or two It’s not just renumeration it’s a liberal education Ain’t you kind of glad that I’m in debt to you
CHORUS
Since the first amphibians crawled out of the slime We’ve been struggling in an unrelenting climb We were hardly up and walking before money started talking And it’s sad that failure is an awful crime Well it’s been that way for a millenium or two But now it seems that there’s a different point of view If you’re a corporate titanic and your failure is gigantic Down to congress there’s a safety net for you
CHORUS:
I am changing my name to Chrysler I am going down to Washington D.C. I will tell some power broker What they did for Iacocca Will be perfectly acceptable to me I am changing my name to Chrysler I am headed for that great receiving line So when they hand a million grand out I’ll be standing with my hand out Yes sir I’ll get mine
Harolynne Premium Member about 13 years ago
Hey, I thought America had the highest corporate taxes in the world! Oh, that’s right - just because we have the taxes doesn’t mean the corporations actually pay them.
So, I guess I’ll have to keep paying the taxes for the banks, the utilities, the media, and on and on…
willikiii about 13 years ago
Shoulda changed the name to “Soros.” He doesn’t pay anything, either, as all his holdings are offshore.
Yet he is probably the most powerful, not to mention richest, man behind the scenes and pulling this administration’s strings.
BTW: Corporations, in practice, don’t pay taxes, per se.
All “corporate taxes” paid to the government are just a “cost of doing business” and is passed on to the consumer, you and me, in the form of product prices.
The fiction of “corporate taxes” is just that!
Also, when the item is sold, sales taxes are collected on the item which means it is double taxed, and, in effect, a tax on a tax. Contra-Constitutional.
Think on it!
Jason Allen about 13 years ago
^ You’re paying a hell of a lot more in executive pay and compensation than you are taxes. Get over it.
Nighthawks Premium Member about 13 years ago
earlier comment: IT pays to be friends with Obama. YOU don’t.
you mean he not only pals around with domestic terrorists, he pals around with corporation executives and gives them tax breaks? wow! the evil of this man is beyond comprehension
likewise the stupidity of that comment
Motivemagus about 13 years ago
Guys, GE made record profits this year. They also managed to organize their revenue such that the US owes THEM money. For all this “companies pass their costs onto consumers” nonsense you spout, taxes ARE part of the cost of business. If nothing else, they use our national resources! GE makes large items that go down our highways, remember? They put plants here where it is protected by our military. Their people get the rights of anyone resident in or a citizen of the US. Should they pay nothing? Talk about the illegal aliens! Not to mention the industries that get to use national lands for a pittance: loggers, oil drillers, miners. Shouldn’t they pay for their land and access the way private individuals must? If we should pay taxes to support the efforts of our government, so should they. As for you who seem to think corporations should pay nothing, you’re costing US money. And our government, as corporations start to control it anyway. Oh, and jmattadams - that WAY predates Obama. Get your freakin’ facts straight.
Motivemagus about 13 years ago
Oh, and for those of you who are actually fact based: http://www.nytimes.com/2011/03/25/business/economy/25tax.html?_r=2&hp Be sure to read how Reagan objected to this practice from the company he was a spokesman for.
babka Premium Member about 13 years ago
and where’s the list of the structural flaws in designs of General E’s liquid metal fast breeder Nuclear Reactors? And how many of them are in the USA? And where are they?
Simon_Jester about 13 years ago
Rightwing Rhetoric, 2001:
“Cut corporate taxes, NOW!
Rightwing Rhetoric, 2003:
“Coprorate taxes are still too high!”
Rightwing Rhetoric, 2004:
“John Kerry is going to raise corporate taxes. Vote Bush!”
Rightwing Rhetoric, 2006:
“Taxes unfairly penalize corporations!”
Rightwing Rhetoric. 2008:
“America has the highest corporate taxes in the world! Cut them…NOW!”
Rightwing Rhetoric, 2009: “Why do Liberals have a problem with corporations making money?”
Rightwing Rhetoric, 2010: “”Keep the Bush tax cuts! Corporations already pay too much!”
Rightwing Rhetoric” “Can you believe what GE did? AND IT’S ALL OBAMA’S FAULT!!!!!”
Justice22 about 13 years ago
MM,,, Good article/link. As for the 1986 tax reform act of Reagan’s, It and other Gov’t regulations caused me to pay up to 48% of my retirement income in Federal income taxes for 1987. Top rate was 38%!… If I had received over $500,000 I would have paid no tax penalties on a lump sum disbursement.
RunninOnEmpty about 13 years ago
There’s a lot of confusing details here, but the “bottom line” is that the top of the wealth pyramid is still drawing off almost all of the economic growth at an alarming and accelerating pace, while the job market - and those that work for a paycheck, or want to - is still sinking. “… for the last 10 years . . ” Try 40 years.
Dtroutma about 13 years ago
It ain’t just GE. 2/3 of American corporations paid not taxes from ‘98 til 2005 (latest available figures - to Taibi article). Locally, ask how much property tax Intel, Iberdrola, and other corporations paid– like “0”. In some case they dodge with “payments” far less than potential local taxes. Those “payments” used to be called “bribes”.
The real “tax revolt” got more support from Reagan’s policies (even though he did try to tax GE), and the runaway train- hmm, how much did CSX pay?
Sorry, but any form of “sales tax” is far more regressive than income tax. Property taxes are also regressive in that people are penalized if they pay off their homes, have limited incomes, and “flippers” and “speculators” artificially drive up the “value” of their homes. When “inflation” is under 3%, and HOUSING is going up 20% annually, based on phony loans from banks only available because of deregulation, “social conservatives” need to pay more attention to math, and REAL “FISCAL conservatism”.
Yes, only spend what you “earn”, but those “earnings” need to come from those who have the ability to contribute when it comes to “government”.
keechum about 13 years ago
Don’t you just love that cute dancing Elephant on the GE TV ads? Makes it look like the Republicans are in love with GE.
Justice22 about 13 years ago
^ My thoughts exactly!
Simon_Jester about 13 years ago
I HAVE blamed the Dems for extending the Bush tax-cuts Tig….I’ve repeatedly criticzed them for caving in to the R’s
But if you’re so big on consistency, how come we’ve never seen YOU applaud Obama and the Dems for voting to extend the Bush tax cuts?
Or anything else for that matter?
And btw, this is the second time today a rightie responded to that post by trying trying to change the subject. ( I put it up on another forum besides this one. )
Whether or not Obama and the Dems went along with the Bush tax cuts has NOTHING to do with the way the cons changed their tune on taxing corporations as soon as they found a way to blame Obama for GE getting off Scot-Free.
Dtroutma about 13 years ago
Simple fact: Republicans were behind the legislation that gave most of the tax “escapes” to the wealthy, and especially corporations. Though the Dems went along, it is ludicrous to blame Obama for GE or any other corporation/firm’s skating on taxes- it IS after all the definition of “Reaganomics”. It was also key to the absurd inflation in the housing market, and giving loan agents, LIKE GE! the opportunity to hide their “earnings”, more effectively than Long John Silver ever thought possible.
pirate227 about 13 years ago
Too funny!