Saturday, March 1, 2014

THE 21st CENTURY PLAGUE ----------------------------------------------- CORPORATE WELFARE


Puerto Rico, a US Territory, has been coded by the IRS as "foreign" so as to benefit the corporate US tax evasion scam. It is the "offshore" laundry for Corporate offshore tax evasion. As everyone knows, Puerto Rico, (where all are US citizens), is bankrupt, unemployment is rampant, per capita is below poverty level, and crime soars, yet corporations receive billions of dollars annually in US tax benefits leaving the US taxpayer broke trying to support the US economy.

This scam is also destroying the US economy, eliminates jobs, and is a heavy burden for the US taxpayer.

The corporate lobbying apparatus obstructs and stops any efforts from the people of Puerto Rico for self determination. 
With their unlimited wealth, they have enough money to influence politicians and the Puerto Rico elections so as to have control of the local and national governments on this issue. 
Many of those elected in Washington work for them instead of for their law abiding tax paying constituents. 
We are all in the same boat. This greed for more money has spread out to many countries of the world, creating economic chaos, which eventually leads to human suffering and wars.
Where are the political leader who are willing to say NO to the unlimited greed of the CORPORATE WELFARE apparatus and their lobbyists and stop this? What political leader in Puerto Rico will have the courage to stand up to these forces and save our island? He or she cannot do it if the people of Puerto Rico do not have the resources or the guts to support them.
mj
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ALJAZEERA AMERICA
The shocking numbers behind corporate welfare

by David Cay Johnston @DavidCayJ
February 25, 2014

Boeing and its stockholders fly high on tax dollars
An Air India Boeing 787 Dreamliner taking off for a display at the 50th Paris Air Show, at Le Bourget Airport near Paris in June 2013. Pascal Rossignol/Reuters

State and local governments have awarded at least $110 billion in taxpayer subsidies to business, with 3 of every 4 dollars going to fewer than 1,000 big corporations, the most thorough analysis to date of corporate welfare revealed today.

Boeing ranks first, with 137 subsidies totaling $13.2 billion, followed by Alcoa at $5.6 billion, Intel at $3.9 billion, General Motors at $3.5 billion and Ford Motor at $2.5 billion, the new report by the nonprofit research organization Good Jobs First shows.

Dow Chemical had the most subsidies, 410 totaling $1.4 billion, followed by Warren Buffett’s Berkshire-Hathaway holding company, with 310 valued at $1.1 billion.

The figures were compiled from disclosures made by state and local government agencies that subsidize companies in all sorts of ways, including cash giveaways, building and land transfers, tax abatements and steep discounts on electric and water bills.

More on this topic:
IRS TAX BENEFITS FOR CORPORATIONS WHO DO BUSINESS IN PUERTO RICO IS UNCONSTITUTIONAL - CFC'S are to blame for Puerto Rico's financial woes