Shared Sacrifice

March 31st, 2011at 12:15pm Posted by Eli

This is quite possibly the most perfect representation yet of the Republican concept of “shared sacrifice”: GE employs every strategy known to man to not only avoid paying taxes on $14 billion in profits, but actually wrangles a $3.2 billion tax CREDIT

And then turns around and tells 15,000 employees that they need to take big pay and benefit cuts.  Because, I guess, $14 billion in profits plus a $3.2 billion tax credit just isn’t enough to get by on these days.

True, it’s not a perfect analogy to Obama extending tax cuts for the rich and then saying that government workers (and most other non-millionaires) will have to tighten their belts because of the deficit, but it’s the same combination of a huge tax windfall for the rich coupled with everyone else getting screwed.  The biggest difference in GE’s case is that instead of providing an excuse for screwing workers, the tax windfall does pretty much the exact opposite.

Entry Filed under: Corruption/Cronyism,Economy,Labor,Politics,Republicans,Taxes,Wankers


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