Corporate America Is Hoarding Tons of Cash: Why Would Obama Think About Giving Them More Tax Cuts?

[ProfessionalLeftist]

...

the companies in the Standard & Poor's 500-stock index are sitting on a record $960 billion in cash -- the Wall Street Journal notes that "there is a cash crisis in corporate America—although it comes not from a shortage of the stuff, but from a surplus." Given that the federal government has been collecting the lowest share of the economy in tax revenues since 1950 during the past few years, one might also expect that giving American businesses more "tax relief" wouldn't be a terribly high priority.

But this is America, and the White House is reportedly courting big Wall Street donors to help finance Obama's re-election campaign, so it's considering the merits of offering a temporary cut in the payroll tax paid by businesses. It's an idea that might stimulate the economy a little bit and could well gain bipartisan support, but it's also fraught with risk and represents yet another sign that the administration has thrown in the towel in the larger debate over how to recover from a blistering recession.

MORE...

http://www.alternet.org/economy/151269/corporate_america_is_hoarding_tons_of_cash:_why_in_the_world_would_obama_think_about_giving_them_more_tax_cuts/

[leveymg]

1. Why does a headless chicken keep running around the barnyard?

Autonomic nerve reaction.

[Sarah Ibarruri]

2. I deluded myself about Obama

In retrospect, it's easy to see that both Democrats and Republicans:

1) Need corporate money to run for office, and so they
2) Are owned by corporations.

End of story. Without election reform we will never fix most of the issues in the U.S., and how's that going to happen when the individuals who would need to implement election reform, are owned by corporations and not about to leave corporations voiceless?

And yet it's, 'WE THE PEOPLE OF THE UNITED STATES OF AMERICA,' not 'WE THE PEOPLE AND THE CORPORATE ENTITIES OF THE UNITED STATES OF AMERICA.'

What needs to happen is that those of us who know and see the vast corruption in U.S. politics, need to get together in a cohesive group and slowly grow it until the owned are forced to pass election reform laws.

[OwnedByFerrets]

6. Exactly correct Sarah

[eilen]

3. Because they own him? He also gives their reps key jobs in the WH. nt

[somone]

4. The haves and have-mores must have more

The base must be served at all costs

[piratefish08]

5. it's a loooooooooong way to a billion dollar campaign budget.....

just connect the dots.

it's not even a challenge anymore.

[OHdem10]

7. This is what Corporate Democrats Do.---Republican Lite.

[nichomachus]

8. Because he's a loyal employee of Goldman Sachs

[ProfessionalLeftist]

9. Bingo. They were/are one of his biggest contributors n/t

[spanone]

10. think of it as extortion

[Better Believe It]

11. Because he represents them? Is this a quiz?

[RandomThoughts]

12. Kobiashi Maru?

All elves must face mortality for empathy.

Suzanne Vega - Luka
http://www.youtube.com/watch?v=VZt7J0iaUD0

[Marr]

13. Since Obama is basically a butler to the banksters and does whatever they tell him to,

you're really asking "why do those rich guys want more money"?

[applegrove]

14. CEOs and corporations make money off of lowered taxes. Reducing their tax

CEOs and corporations make money off of lowered taxes. Reducing their tax burden has become a huge business and that is probably why they squeal every time you talk about increasing taxes. Why they don't have to come up with a new & improved product or management ideas...they just have to fund right wing organizations and presto: more profit for them. Deregulations work the same way.