Top US Business Doing Their Fair Share of Damage to the Economy

Call them like the GOP sees them – the Job Creators, the Fortune 300 largest businesses in the US. As the NYTimes describes here, the top US Businesses are not paying their fair share of government taxes and support. And given that Corporations are People and certainly do benefit mightily from government programs they are remiss because they pay less than half in taxes that real people do as a percentage of their total net income[profits left after operating expenses and capital cost depreciation are subtracted] .

And this is to say nothing  about the Job Creators leading in a race to the bottom in “cost restucturing” by exporting jobs and relentlessly cutting back on wages and benefits[and thus undermining a US economy that depend on conumer consumption for 70% of  total revenues]. But top US Business executive pay  increased by  11% in 2010 and now the ratio of top executive pay to average pay for all workers in top business is 320-1.  Meanwhile US Corporations  are sitting on  a hoard of cash that has grown to $2trillion on their balance sheets[as the WSJ describes highest level in 50 years]. Now this would not be so bad if the top corporations were truly Job Creators in these tough times. But as the OECD clearly points out it is small and medium-size businesses in the US and throughout the world that are reponsible for 80% or more of new jobs.  Now to complete the GOP Idiot Cycle, loans to small  and medium size businesses are down significantly in the past years. With Job Creators like these who needs enemies?

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