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Corruption and Crony Capitalism in Washington is worse than many realize

Cross Posted from IfLizWereQueen

We can beat them simply by voting them out of office in 2012.  We can leave the rest of  their justice-due up to the higher authority.

Corruption and Good Ole Boy Cronyism between Elected Officials in Washington DC and Wall Street Corporations is so bad that the American Taxpayers are actually paying billions each year to Wall Street Corporations who don’t pay ANY taxes!  AND they are spending more money for lobbyists on K Street than they are for taxes.

And what do we get for our money?  We get trade agreements like the Korean Free Trade Agreement that according to the Congressional Budget Office will ship 169,000 American jobs overseas and increase the US trade deficit by $16 billion.  The crooks running Congress don’t give a damn about deficits as long as it increases the value of their own personal stock portfolios.  And our own President has the CEO (Jeffrey Immelt) of one of the worst offenders  (General Electric) as a financial advisor.  How cynical is that?  Over the past three years GE has made  over $10 billion in U.S. profits, gotten a $4, 737 billion tax rebate from the American taxpayers and forked over $85.35 million to lobbyists to make sure the golden goose keeps giving.

And to those Americans who wonder why the 99% marched on K Street yesterday, I say:  WAKE THE F UP and stop acting like you belong to the 1%.  If you live in the DC area, you should have been marching with them.

The table below is from Think Progress.  It shows the 3 year totals for U.S. profits, Federal Income taxes paid and lobbying expenses in millions (2008-2010).  Although 22 of the 30 corporations made profits in excess of a billion dollars, only one of the 30 paid a cent in U.S. income taxes:  Federal Express. All of the rest got tax rebates from the American people even though they didn’t pay a dime of taxes, and all of them spend more money on lobbyists than they spent on taxes.

The ONLY reason that this situation exists is because of the corrupted individuals from BOTH parties that we have currently sitting in our Senate and House of Representatives–many of whom have been there for 20 years or more. If they represented  the majority instead of their own personal Wall Street stock portfolios, this situation would not exist.  From just 29 Wall Street corporations the American taxpayers have paid out over $10 billion dollars over the past three years.

And these people have the nerve to gripe about the 35% corporate income tax when not only do they pay zero taxes, they rob from the Americans who do pay taxes.  This is money that should go to support the infrastructure that is shared by all.

None of this will change until BOTH “temples” in Washington D.C. are cleared of their moneychangers and profiteers and replaced with members of the 99% who are not millionaires and who do not have a Wall Street stock portfolio.

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Liz Berry

Liz Berry