We now are finding a plethora of not only potential administration candidates being behind in their taxes but also large corporations as well.
These are the same corporations that are receiving bailout money from our taxes. Not only from our taxes but I am sure from borrowed money and the interest on that borrowing that we pay through our taxes as well.
WASHINGTON – At least 13 firms receiving billions of dollars in bailout money owe a total of more than $220 million in unpaid federal taxes, a key lawmaker said Thursday.
Rep. John Lewis, chairman of a House subcommittee overseeing the federal bailout, said two firms owe more than $100 million apiece.
"This is shameful. It is a disgrace," said Lewis, D-Ga. "We are going to get to the bottom of what is going on here."
The House Ways and Means subcommittee on oversight discovered the unpaid taxes in a review of tax records from 23 of the firms receiving the most money, Lewis said as he opened a hearing on the issue.
This entire situation is pure insanity. My thoughts on this go well past just the taxes and the bailout money. We are partially in this position because of the Bush administration's need to go to war and spend money that we didn't have that could have been spent on our own infrastructure and within our own country.
Sound like a contradiction? Of course it is. The taxes we pay the paydown just the interest on the trillions that are being borrowed to pay for the wars of George W. Bush could be being used to bail out these insane companies. Insane because of the fact of their excesses, policies and spending around the world that have put the United States in jeopardy. The United States is comprised of people. The people are paying for these corporations excesses. The fact of the matter is that the people of the United States should never ever be put in a position again to be at the mercy of financial institutions. This is a crime. Will the criminals go to prison? Oh hell no. No one will go to prison because they are rich. Do baseball players go to prison? No. They are rich.
The Congress of the United States no matter who was then in the majority has went right along with this situation. I am not sure if it's the governments responsibility to tell companies that you are now going past the limits of sensibility into insanity.
It is obvious that corporations like AIG are a detriment to the country. Not only a detriment of a threat to this country. How many other corporations are so intertwined in the world finances that they can bring the greatest country in the world to its knees?
Not only how many other corporations, but what are we going to do about it? What will our representatives do about it? Only do the usual and follow whatever the corporations want him to do or will they recognize it's a crisis and that their reelection bids are possibly in jeopardy? On a daily basis or government is sold to the highest bidder or whatever corporation can put the most leverage on them. The fact that these international corporations can threaten the livelihood of the government of the United States and the people of the United States is appalling and cannot be tolerated. This is corporate blackmail upon the people of the United States and the government of the United States.
In the last eight years regulation of these corporations and others have been loosened and thrown by the wayside. It is readily apparent that government intervention in the corporate world is absolutely mandatory as corporations have no intention of regulating themselves in doing what is right both for themselves and for their country. The fact that corporations exist on the back of working people have seen to escape them, and in doing their best to ensure that the American worker is not working is a self-fulfilling method to an end.
One of the best examples of corporate leverage as the facts that in 1970 we recognize that we could be held hostage by the petroleum providing countries. In the last 39 years the progress made by the auto companies and by the United States in the area of alternate energy has practically been zero. The late President Bush did his best to kill progress in that area to bow to the money that put him there.
I encourage everyone to write to their congressmen to ensure that corporate regulation or oversight as required is put into place in laws written pertaining to the depth at which American corporations can put this country at risk.