MORE ON CEOs, CORPORATIONS & YOUR TAXES

As punk rock icon Johnny Rotten once said: "Ever get the feeling you've been cheated?"

Talk about timely supporting evidence!

Not that it'll put a smile on your face, but a few days after I wrote "CEOs SUCK (YOUR TAXES)!" (posted Aug. 29), DemocracyNow.org did a story on this very issue.

A new study has found that 25 of the biggest corporations in America paid more to their CEOs in 2010 than they paid the federal government in taxes. Here now, in point form, are some more of the sickening facts from the study/story:

* Corporations often use overseas tax havens and can make billions in profits while paying little, or zero, in taxes
* Companies often actually receive tax rebates
* Among the companies mentioned in the study were Coca-Cola, Verizon, General Electric and eBay
* The study stated that the ratio of CEO pay to that of the average worker in the U.S. has rocketed to 325-to-1
* The study’s co-author, Chuck Collins, (senior scholar at the Institute for Policy Studies as well as the director of its Program on Inequality and the Common Good), said: "What these companies do is they use a variety of tax loopholes, corporate loopholes, to game down their taxes. So, these are what I would call the sort of championS in the tax gymnastics department."

You can watch the DemocracyNow.org report here. It includes some excellent information about how corporations cheat on their taxes!

Take care and keep fighting for a fair go,
Adrian

IF YOU FOUND THIS BLOG POST INTERESTING you might also like to take a look at CEOs SUCK (YOUR TAXES)!

CEOs SUCK (YOUR TAXES)!

Steve Jobs, who just stood down as boss of Apple: "Would the next WASP in line who wants to make an obscene amount of money please step forward."

We all know Chief Executive Officers of large corporations make a fortune, right?

Wall Street can crash, the economy can take a header, unemployment lines can stretch around the block and poverty lines can squeeze more and more people under them. But CEOs are still laughing all the way to the Hamptons.

It's pretty sickening on many levels. For example, these jokers constantly talk about profitability and "remaining competitive." This is corporatespeak for maximizing profits by any available measure... other than cutting their own salaries. And the first port of call is generally the rank and file: pay cuts, benefits cuts, layoffs. Anybody but them.

With the recent attempts to gouge workers at Verizon and in the state of Wisconsin and, well, everywhere else; and with real wages for the majority of the workforce stagnating or declining over the past 30 years, it's nauseating that the top layer of business boys is still at the trough.


THE NUMBERS

So how much do these guys (yes, almost exclusively white males) make? You might want to get out the Mylanta before you read this.

According the the AFL-CIO website, in 2010 the average CEO pay at S&P 500 companies was as follows:

Salary: $1,093,989
Bonus: $251,413
Stock Awards: $3,833,052
Option Awards: $2,384,871
Nonequity Incentive Plan Compensation: $2,397,152
Pension and Deferred Compensation Earnings: $1,182,057
All Other Compensation: $215,911
TOTAL: $11,358,445

Quoting from the same site:

According to the Federal Reserve, U.S. corporations held a record $1.93 trillion in cash on their balance sheets in 2010. But they are not investing to expand their companies, grow the real economy or create good middle-class jobs. Corporate CEOs are literally hoarding their company’s cash—except when it comes to their own paychecks.

In 2010, Standard & Poor's 500 Index company CEOs received, on average, $11.4 million in total compensation— a 23 percent increase in one year. Based on 299 companies’ most recent pay data for 2010, their combined total CEO pay of $3.4 billion could support 102,325 median workers’ jobs.

Fortunately, the 2010 Dodd-Frank Wall Street Reform and Consumer Protection Act contains new tools to help limit runaway CEO pay. Shareholders now have a “say-on-pay” vote on executive compensation, and companies must disclose the ratio of CEO-to-worker pay at each company.

And on an important side note, let's not forget that corporations are BY FAR the biggest recipients of welfare -- our tax dollars!


CONCLUSION

There's something very wrong here, obviously. Think about how hard you work and how much you make (if you even have a job, of course). Now, if you divide $11, 358,445 by a salary of $40,000, you get a quotient of 283.96. Now, does anybody really work 284 times harder than you? Or is their knowledge or expertise so unique, so irreplaceable, that they are worth 284 times your sweat? And what exactly do they do to make the world a better place?

Times are very tough, brutal, for many many people. And they were tough a long time before the 2008 recession hit for many millions in the U.S. and around the world. But the one constant is that CEOs do very well, living in their own stratosphere of luxury.

But be careful, fellas. The air will get awful thin up there once you piss off enough people. And they ain't gonna throw you an oxygen tank.

Take care,
Adrian

IF YOU FOUND THIS BLOG POST INTERESTING you might also like to take a look at THE REVOLUTION IS KNOCKING -- PT. 1.

BITS & BITES: "HOW CAN YOU CARE TOO MUCH?"

"I have a dream!.... No, wait. That's not the line."

Out of the Mouth of Mickey

Any of you who are activists or agitators for social change on any level have probably heard a million times things like: "What are you so worried about?" "You have to see the glass as half full and enjoy life" etc. etc. These folks, who probably mean well, don't see that you can have a social conscience and work to make the world a better place and still enjoy your life. In fact, you appreciate your blessings even more. The fact that they miss the point so badly makes me a little sad. That's why "spreading the word" is so important. It all makes me think of Mickey Rourke, as the nutty rogue cop in "Year of the Dragon," when he says: "How can you care too much?" That's how I've always felt and as long as there's one person suffering or one child hungry, I'll be quite content to feel rather intense about trying to make a difference.


Hurricane Irene

I've been tracking this angry lady quite closely because my son lives back East. He just turned nine and we spoke on the phone a few minutes ago. "We hardly got anything!" he told me, a little disappointed not to have a bit more excitement in his Sunday. Of course, Irene is no joke for a lot of people who have to pick up the pieces in her wake. I'm very leery of the political mileage that Obama and others get out of stuff like this. The speeches, the grim predictions, the somber summaries -- all from their ivory towers and safe havens. Is there an election simmering on the stove top by any chance? (NOTE: Did you realize that Obama raised a BILLION dollars for his first presidential campaign? Think about how sick that is and what it says about our bogus "democracy." I know some people on the East Coast who could use a taste of that kind of money right now.)


Guest Writers for "House on Fire"

You may have noticed that Code Pink founder and super-gutsy lady Medea Benjamin gave me use of her most recent piece (on the new MLK monument in D.C.) for "House on Fire." I'm very grateful to her; she's a really great person. Well, I've lined up some other big names for "guest appearances." Some of these blog posts will be in the format of "5 Questions for..." So keep checking back. In addition, a couple of my closest friends, who have expertise and special insights into certain activism areas, will also be appearing as guest writers. Tryin' to mix it up a bit here, people!

Click here to read "No Way to Honor Dr. King" by Medea Benjamin


Remember Unions?

When I first started out in the workforce, a long time ago, I worked in blue collar, union jobs. And that seemed about right to me. As I've said before: Unions aren't perfect but they're a hell of a lot better than the alternative! Well, in some good news reported on DemocracyNow.org on Friday, the National Labor Relations Board has come out with new regulations that will require most employers in the private sector to actually put posters on their bulletin boards informing employees about their rights, under federal law, to unionize. Spread the word on this one!

DemocracyNow.org


The Verizon Strike

45,000 Verizon workers are now back at work and kudos to them for gutting it out against a major, and majorly greedy, corporation that was trying to slash their benefits. The final deal is still being thrashed out but put this down as a win for struggling workers and proof that being in a union, and having courage and solidarity, mean something.

You can read more at the Communications Workers of America website


A Win in Wisconsin as Well

You have to tip your hat to the working people of Wisconsin -- and their many supporters -- who refused to let ratbag Governor Scott Walker kill collective bargaining. 10,000 of them (some say many more than this) took over the Capitol at one point and People Power forced recall elections that added pro-worker Democrats to the WI senate and showed that the not-so-good governor isn't nearly as popular as he thought he was.

Click here to visit the We Are Wisconsin website


People Power Across the Middle East

The pro-democracy uprisings that have swept the Middle East in recent months are a fascinating situation that has ramifications for global democracy, and they're making despots from Saudi Arabia to Washington D.C. pretty nervous. No way to predict how it will all play out but when you look at the long list of countries involved you can at least say that something significant has happened and that the power really does lie with the people. And when they decide to take to the streets, they can create history and make our phony leaders look like the weaklings they really are.


Norman Solomon -- An Honest Man Headed for DC

Don't forget to throw your support behind Norman in his run for Congress. I'm as cynical as anyone when it comes to politicians. But Norman is an activist and a wonderful human being, not a career politician. He's a good chance of winning his district and, once he gets to Capitol Hill, the cat will be among the pigeons. Onward!

Click here to see Norman Solomon's campaign site

Take care,
Adrian

IF YOU FOUND THIS BLOG POST INTERESTING you might also like to take a look at BITS & BITES -- July 24, 2011

NO WAY TO HONOR DR. KING by Medea Benjamin

Medea Benjamin: Never shy about making her point on Capitol Hill

One of the raisons d'être of "House on Fire" is to use it as a launching pad for an activism website I am developing. As part of the process, I've reached out to luminaries on the left to endorse that site, and I've been delighted with the response. One of those who didn't hesitate to offer her endorsement was Medea Benjamin. As you may well know, Medea is a cofounder of both CODEPINK and Global Exchange, an international human rights organization. Earlier today I contacted Medea again to ask if she'd contribute a piece to "House on Fire." Despite being on vacation in Europe, she responded almost immediately -- such is the dedication of this woman -- and granted me use of the following piece. It's hot off the press and unedited.

****************

No Way to Honor Dr. King

By

Medea Benjamin

The ceremonies for the new Martin Luther King Jr. Memorial in Washington DC were kicked off on August 24 at an event billed as Honoring Global Leaders for Peace. But some of those honored are a far cry from King’s beloved community of the poor and oppressed. The tribute to peacemakers, organized by the MLK National Memorial Foundation, was mostly a night applauding warmakers, corporate profiteers and co-opted musicians.

The night started out with great promise when MC Andrea Mitchell mentioned Dr. King’s brilliant anti-war speech Beyond Vietnam as a key to understanding the real Dr. King. And sure, there were a few wonderful moments — a song by Stevie Wonder, a speech about nonviolence by the South African Ambassador and a quick appearance by Jesse Jackson in which he managed to spit out a call to “study war no more.”

But most of the evening’s speakers and guests of honor had little to do with peacemaking. One of the dignitaries thanked at the start of the program was Israeli Ambassador Michael Oren, representing a country that uses $3 billion a year in precious U.S. tax dollars to commit war crimes against Palestinians.

Then came a parade of representatives of corporations that want to cleanse their image by being associated with Dr. King. The first was General Motors VP Eric Peterson. His company took billions from government coffers to keep it afloat, then showed its “generosity” by donating $10 million of our tax dollars to the memorial. Mr. Peterson gave a speech paying tribute to the company’s first black board member, Rev. Leon Sullivan. Peterson claimed that the Sullivan Principles, principles that established a social responsibility code for companies working in South Africa, helped abolish apartheid. The truth is that the Sullivan Principles ended up being a cover for U.S. corporations — like General Motors — to continue doing business in racist South Africa instead of respecting the international divestment campaign.

Up next was Guy Vikers, president of the Tommy Hilfiger Corporate Foundation. Although the group Sweatshop Watch fingered Hilfiger for mistreating workers and inducted the company into its Hall of Shame, Hilfiger’s $6 million gift to the memorial bought it a piece of the King legacy.

Next on the corporate sponsor list was Myrtle Potter of Medco Health Solutions. Medco is a $60 billion “pharmaceutical management” company that fought against healthcare reform and was recently forced to pay the U.S. government $155 million to settle fraud charges. Other corporate benefactors to the memorial include union-busting Verizon, war profiteering General Electric and sweatshop king Wal-Mart.

After the line-up of corporate shills came U.S. trade rep Ron Kirk. One wonders how on earth a man who pushes free trade policies that destroy workers’ rights and promote a race to the bottom was deemed a peacemaker. King’s commitment to workers — remember his support of the sanitation workers? — was in total opposition to Ron Kirk’s pro-corporate stance.

But the queen bee of the evening was former Secretary of State Madeleine Albright. She dismissed King’s call that morality be the guiding light of our international relations as nice, but far from the complex real world where we have enemies we have to confront. This is the same “practical” diplomat whose claim to shame in the eyes of true peacemakers was her support of such stringent sanctions against Iraq that over 500,000 children under 5 were killed. When asked about the morality of this policy on national TV, Albright calmly asserted that “the price was worth it” in the fight against Saddam Hussein.

Ms. Albright was awarded a model-size version of the King Memorial, presented by the controversial Chinese artist himself, Lei Yixin. Uninvited was the group that had spearheaded a campaign pressing the Foundation to choose an African-American artist, and use American granite and American workers. Instead the Foundation tried to save some money with a Chinese artist who used Chinese materials and Chinese workers. The human rights abusing Chinese government, delighted by the association with Dr. King, sweetened the deal with a $25 million donation. And despite written promises that the Foundation would use local stonemasons to assemble the memorial, Chinese laborers were used. The Washington area local of the Bricklayers and Allied Craftsworkers union claims the workers were not paid fairly, and their pay was withheld until they returned to China.

After the speeches and Stevie Wonder’s song, the mic was turned over to an Israeli musician Idan Raichel, an avid supporter of the Israeli Army and someone who has publicly expressed approval of Israel’s 2009 invasion of Gaza. One wonders how much the Israel government gave to the Foundation to get a plum spot in the tribute to peace.

But don’t ask the King family how they feel about their fathers’ opening tribute being sold off to the highest bidder. The family demands royalties for use of the King name — even from the Memorial — and so far have received about a million dollars. Cambridge University historian David Garrow, who won a Pulitzer Prize for his biography of King, said that King would have been "absolutely scandalized by the profiteering behavior of his children."

Today’s great global peacemakers, the true followers of Dr. King, were neither seen nor evoked. No mention of Burma’s struggling opposition leader Aung San Suu Kyi or the nonviolent protagonists of the Arab Spring or the environmentalists opposing a proposed tar sands pipeline from Canada to Texas who were arrested at the White House on the very day of the tribute. No mention of the U.S. peace groups trying — for 10 years now — to stop the horrifying Bush/Obama wars in Iraq and Afghanistan and the drone attacks in Pakistan that have killed so many civilians.

Dr. King, whose life was spent preaching unconditional love and nonviolent redemptive good, continues to inspire people the world over who are helping to shape his vision of an “arc of the moral universe” that is long but bends toward justice. Gandhi, King, Mandela — there are precious few whose legacies resonate with those who are risking their lives today, in a nonviolent fashion, to eliminate the evils of racism, poverty, militarism and environmental destruction. King’s tribute to global peacemakers should have reached out to them as the legitimate heirs of the King legacy, not the monied interests who helped pay for the piece of carved granite that bears his image.

Medea Benjamin is cofounder of Global Exchange and CODEPINK. You can read her full bio here.

IF YOU FOUND THIS BLOG POST INTERESTING you might also like to take a look at "STANDING UP TO THE MADNESS"

NET NEUTRALITY -- READY OR NOT, IT'S CRUNCH TIME, FOLKS

I'm bloody exhausted so I'm gonna try and do this quickly -- fortunately I'm someone who can do a zero-to-60 on fumes. Besides, this won't wait.

It's coming up to crunch time for "Net Neutrality." This is a huge issue for us all!


What is "Net Neutrality"?

Here's how www.SaveTheInternet.com puts it:

Net Neutrality is the guiding principle that preserves the free and open Internet.

Net Neutrality means that Internet service providers may not discriminate between different kinds of content and applications online. It guarantees a level playing field for all Web sites and Internet technologies.

Net Neutrality is the reason the Internet has driven economic innovation, democratic participation and free speech online. It protects the consumer's right to use any equipment, content, application or service without interference from the network provider. With Net Neutrality, the network's only job is to move data -- not to choose which data to privilege with higher quality service.


What's That Mean for Us?

The long and short of it is that, once again, big corporations are trying to steal something from us and make a load of money. There are ramifications here for free speech, access to information, democracy... all kinds of very serious issues.

It has happened before! The airwaves are actually public property: just like air itself. Well, at least they were until the corporate media stole them from us and made television and radio into money-making ventures.


A Little More From www.SaveTheInternet.com

The nation's largest telephone and cable companies -- including AT&T, Verizon, Comcast and Time-Warner Cable -- want to be Internet gatekeepers, deciding which Web sites go fast or slow and which won't load at all.

They want to tax content providers to guarantee speedy delivery of their data. And they want to discriminate in favor of their own search engines, Internet phone services and streaming video -- while slowing down or blocking services offered by their competitors.

These companies have a new vision for the Internet. Instead of a level playing field, they want to reserve express lanes for their own content and services -- or those of big corporations that can afford the steep tolls -- and leave the rest of us on a winding dirt road.

The big phone and cable companies are spending hundreds of millions of dollars lobbying Congress and the Federal Communications Commission to gut Net Neutrality, putting the future of the Internet at risk.


What You Can Do

This is all coming to a head in less than a week in a vote on December 21 at the diabolical FCC (Federal Communications Commission). There are plenty of ways to make your voice heard. Search the Net while it's still relatively free to do so and find some outlets. Or make some calls.


You could also start with this online petition.


Conclusion

This is a huge deal. The Internet is a place where all voices can be heard with some sort of equality. If Net Neutrality is squashed, you can kiss all that goodbye.

And that will diminish our effectiveness in fighting the good fight on every issue you can name.

Ironically, some corporations that would get pounded in the wallet by the death of Net Neutrality are actually on our side this time. You gotta love that, baby!


Goodnight!
Adrian Zupp