Saturday, June 2, 2012

Quotation for Today: Corporate-Welfare Kings: The Modern-Day Robber Barons

The redistribution of income and wealth is the focus of the quotation for today.

New taxes to pay for stadiums for team owners, billion-dollar-plus gifts for building factories and the pocketing by 2,700 companies of state income taxes paid by their workers have become common.
That’s how corporate socialism works — divert money from schools and other public services to company coffers.
David Cay Johnston

David Cay Johnston, in his article on corporate socialism, recites a litany of federal, state and local government programs that redistribute the income and wealth of middle- and working-class Americans upward to the ultra-rich like GOP candidate Mitt Romney.  

These GOP "job creators" are really corporate-welfare kings who rob middle- and working-class Americans of their hard-earned income and wealth.

David Cay Johnston is a Pulitzer Prize-winning journalist and author. David won the Pulitzer in 2001 for enterprise reporting that uncovered loopholes and inequities in the U.S. tax code. 

To read Mr. Johnston's article, follow the link enclosed in the citation.

Johnston, David Cay. "How corporate socialism destroys." Opinion. Reuters 1 June, 2012: online U.S. edition.

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