Skip to comments.Seniors and Vets to Crash ‘Fix the Debt’ Party Hosted by Honeywell CEO | The Nation
Posted on 02/11/2013 9:39:18 AM PST by ExxonPatrolUs
Seniors and disabled veterans are planning today to crash a "Fix the Debt" party in New Hampshire hosted by Honeywell CEO David Cote. Fix the Debt, an organization comprised of many of the country's richest and most powerful CEOs, pushes the case for cutting Social Security and Medicare as well as lowering the corporate income tax rate.
As such, the organizationand subsequent partycaught the eye of the anti-corporate tax-dodging group US Uncut and new group "Flip the Debt."
"We wouldn't have to make these cuts, and we could invest in putting America back to work, if only [corporations] pay their fair share. So we say, rather than 'fix the debt,' let's 'flip the debt' and put responsibility where it belongs. Hey 1%! Pay your damn taxes," Flip the Debt states on its website.
The two tax accountability groups have organized the protest, which will include seniors and disabled vets sharing their stories about how they survive on programs like Social Security, Medicare, and Medicaid, then handing over their Social Security checks to Cote. They will demand that Cote, a spokesperson for Fix the Debt, answer the question: Why are you demanding that we reduce the deficit by cutting critical social programs, when your own company practices tax-dodging that has contributed millions to the national debt?
Despite reporting substantial pretax US profits to shareholders, Honeywell paid no federal income taxes in 2009 or 2010 (or more precisely, paid less than zero), according to Citizens for Tax Justice, a non-profit advocacy think tank.
Cote and Honeywell have a lost history of making lavish profits while making good use of a tax system that permits corporations to bleed the country dry of revenue.
Over the last three years, Honeywell received more than $2.7 billion in federal defense contracts and reported more than $2.5 billion in U.S. pre-tax profits. And yet thanks to corporate deductions, tax subsidies, and loopholes, Honeywell has claimed $377 million in federal tax refunds during this period.
Honeywell CEO David Cote has been a fixture at Congressional hearings calling for a territorial tax system for corporations. He is also Vice-Chair of the Business Roundtable, a club for big business CEOs that has called for an extension of all the Bush tax cuts, including those for millionaires and billionaires, as well as the tax cuts on unearned income from capital gains and dividends. These combined measures would add $1.5 trillion to the debt over the next ten years.
This isn't about "fixing the debt." This is about rigging the game so big business and CEOs can still make oodles of cash while the 99 percent shoulder the burden of corporate welfare.
"The 'Fix the Debt' Campaign is the latest incarnation of a multi-decade effort by wealthy Wall Street investors to slash social support programs under the pretense of cutting the deficit," the groups state in a press release. "Meanwhile, many of the very same corporations and their CEOs have contributes mightily to the national debt.
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"Honeywell has paid an average effective tax rate of negative 14.8 percent from 2009-2011, even as they receive taxpayer money as the 35th largest federal contractor. Now CEO David Cote is demanding we sacrifice out nation's most popular and effective anti-poverty programs. The average Social Security check is under $1,400 per month. By comparison, when CEO David Cote retires, he is expected to receive a monthly mention of nearly $500,000."
The groups go on to claim that the Bush tax cuts for the wealthy tax-dodging global corporationsmany of them members of Fix the Debthave cost the US Treasury $2.3 trillion, an amount that exceeds the $1.6 trillion Congress now seeks to cut from the deficit.
Spring is on its way, so we can expect more rent-a-mob thugs to get active. Like snakes waking up from hibernation.
Yep, this will be on the MSM evening news. Bush helped the rich robber barons and now they want to cut SS and Medicare. Those damned Reps must be destroyed.
Entitlements for me and not for thee! Protect our entitlements!
I’d love to know how many of those disabled vets actually served in the military, or really suffer from a disability. As a military retiree, one of the things that makes me furious is the number of REMFs who collect pensions for PTSD and other supposed disabilities.
This is not to say that everyone who claims PTSD is faking it, or you can’t suffer a permanent disability in a military job far from the front lines. But during 20+ years in uniform, I saw plenty of people game the disability system, while young men and women who were horribly wounded in places like Iraq and Afghanistan have to fight their way through the system. Exhibit A among the phonies is Air Force Major Jill Metzger, who faked her abduction while deployed to Kyrgyzstan in 2006, then claimed to have escaped and ran 30 miles to freedom. She was temporarily retired and enjoyed a 100% disability pension (tax free) while recovering from her “injuries.” Metzger also ran in a couple of marathons while recuperating. She was later recalled to active duty and is now serving at Travis AFB, California.
“We wouldn’t have to make these cuts, and we could invest in putting America back to work, if only [corporations] pay their fair share.”
OK Jackholes, WHAT is a fair share? Define it!
Lemme guess, you adhere to the “From each according to his ability, to each according to his need” philosophy.
all one needs to know is the source - the Leftist rag “The Nation” - that says it all, nothing important going on there