Comments on: Where government really gets its money http://rockrivertimes.com/2013/01/30/where-government-really-gets-its-money/ The Rock River Times - THE VOICE OF THE COMMUNITY SINCE 1993 Tue, 21 May 2013 01:20:05 -0500 http://wordpress.org/?v=2.9.1 hourly 1 By: Richard Kanak http://rockrivertimes.com/2013/01/30/where-government-really-gets-its-money/comment-page-1/#comment-8306 Richard Kanak Mon, 04 Feb 2013 18:39:39 +0000 http://rockrivertimes.com/?p=42800#comment-8306 Monday, February 04, 2013 Nation off Change website. Paul Buchheit reported the following; -- Verizon, which made $38 billion in 2008-2011 and paid no tax, cut 41,100 jobs. -- AT&T, which made $9 billion in 2011 and paid no tax, cut 54,000 jobs. -- Merck, which made $34 billion in 2008-2011 and paid a 7 percent tax, cut 13,000 jobs.Other leading job-cutters: -- Citigroup, which made a $28 billion profit in 2010-2011 and paid no tax. -- Boeing, which made $15 billion in profits in 2008-2011 and paid no tax. -- IBM, which made $75 billion in profits in 2008-2011 and paid less than 2 percent in taxes. -- HP, which $40 billion in profits in 2008-2011 and paid an 11 percent tax. -- Pepsico, which made a $10 billion profit in 2011 and paid a 6.3 percent tax. -- Proctor & Gamble, which made almost $60 billion in profits in 2008-2011 and paid 11 percent in taxes. -- Google, which avoided about $2 billion in 2011 taxes by shifting revenue to a Bermuda tax haven. After reading these numbers I felt compelled to email our elected officials in Washington D.C. asking for their defense of these corporations. Apparently campaign donations pay. Monday, February 04, 2013
Nation off Change website. Paul Buchheit reported the following;
– Verizon, which made $38 billion in 2008-2011 and paid no tax, cut 41,100 jobs.
– AT&T, which made $9 billion in 2011 and paid no tax, cut 54,000 jobs.
– Merck, which made $34 billion in 2008-2011 and paid a 7 percent tax, cut 13,000 jobs.Other leading job-cutters:
– Citigroup, which made a $28 billion profit in 2010-2011 and paid no tax.
– Boeing, which made $15 billion in profits in 2008-2011 and paid no tax.
– IBM, which made $75 billion in profits in 2008-2011 and paid less than 2 percent in taxes.
– HP, which $40 billion in profits in 2008-2011 and paid an 11 percent tax.
– Pepsico, which made a $10 billion profit in 2011 and paid a 6.3 percent tax.
– Proctor & Gamble, which made almost $60 billion in profits in 2008-2011 and paid 11 percent in taxes.
– Google, which avoided about $2 billion in 2011 taxes by shifting revenue to a Bermuda tax haven.
After reading these numbers I felt compelled to email our elected officials in Washington D.C. asking for their defense of these corporations.
Apparently campaign donations pay.

]]> By: Kraig Kircher http://rockrivertimes.com/2013/01/30/where-government-really-gets-its-money/comment-page-1/#comment-8284 Kraig Kircher Sun, 03 Feb 2013 02:35:31 +0000 http://rockrivertimes.com/?p=42800#comment-8284 While Michael Smith is correct that government gets its money from taxpayers, he is wrong in thinking that it is greedy groups that drive up the cost of government. The reaily is that it is privatization of government services at a cost plus price that drives up costs. Overhead is typically much lower for services provided by government when compared to those same services that have been sold or contracted to private companies. Corporations are driven by profit; government employees are driven by a desire to provide good service. If you want less costly government, stop outsourcing to private companies which are there to make a profit. There is no evidence whatsoever that private companies can do a better job at less cost. In this regard the Republicans, and especially the Tea Party, are wrong. While Michael Smith is correct that government gets its money from taxpayers, he is wrong in thinking that it is greedy groups that drive up the cost of government. The reaily is that it is privatization of government services at a cost plus price that drives up costs. Overhead is typically much lower for services provided by government when compared to those same services that have been sold or contracted to private companies. Corporations are driven by profit; government employees are driven by a desire to provide good service.

If you want less costly government, stop outsourcing to private companies which are there to make a profit. There is no evidence whatsoever that private companies can do a better job at less cost. In this regard the Republicans, and especially the Tea Party, are wrong.

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