Wednesday, September 28, 2011

Canada's Propaganda on Corporate Taxes

A man in Canada posted this and the video below*

"Corporations need more tax breaks...they tell us that same trash here in Canada all the time. China is not prosperous due to low corporate taxes. (In China it is 25%, when the actual effective tax rate in the U.S. is usually much lower, if they pay any at all. In Canada, it's also lower. On January 1, 2011 the corporate income tax rate fell to 16.5% from 18% of 2010.)

If you will work for 1 or 2 dollars a day in deplorable conditions with no rights or benefits, then maybe you too can have a job. Employees at resorts in Mexico work 6 days a week, starting around 9am and going until midnight, with very few breaks in-between, for approximately 10 dollars a day. (It's much worse in China.)

I am tired of hearing from governments and business leaders saying that if the tax rate for corporations were reduced - it will be like a magic formula for job creation. That just isn't so. Taxes are just one element, there is labor (and related costs such as benefits, pensions etc.), local and federal regulations from zoning to environmental and reclamation costs, and even government subsidies hidden to circumvent trade agreements. It's only in a self-serving way, do corporations want tax breaks."

* It's not much of a video, but it's still worth a listen to, to see how Canadians are also being lied to the same way as we Americans are being fed the same corporate propaganda.

So it's NOT that corporate taxes are too high, it's fair wages they don't want to pay.

Also, have you ever watched the show American Greed on CNBC? Corporate CEOs are almost always the "bad guys". Just look at what's happening now with Solyndra. How much did they pay in corporate taxes? And they just laid off 1,100 workers! This is happening all the time...where white-collar crime is running rampant in this country (and most probably in Canada too).

And the Republicans call all these thieves "job creators".

If every American (and Canadian) CEO in a large multi-national corporation just lopped off a measly $1 million from their HUGE multi-million-dollar annual salaries, couldn't their company then afford to pay "living wages" and the premium for a group health-care policy for all their domestic employees?

Or would that just encourage more corporations to send more jobs overseas, just so they could put more cash in their own deep pockets? Yeah, I know...stupid question.

Ali Velshi I like Ali Velshi...because at least he's made a few favorable mentions of these corporation's sworn enemies...the long-term unemployed 99ers.

Please sign their official White House petition to extend unemployment benefits. Thanks.

See my related post: Corporate Exceptionalism

The Elizabeth Warren Quote Every American Needs To See

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1 comment:

  1. Businesses aren't leaving the U.S. to escape higher taxes or regulations. They are leaving for lower wages.

    READ - Wall Street Is Committing Economic Genocide