9 Greedy CEOs Trying to Shred the Safety Net While Pigging Out on Corporate Welfare

 9 Greedy CEOs Trying to Shred the Safety Net While Pigging Out on Corporate Welfare

By Lynn Stuart Parramore – Alternet.org

Financiers, polluters and other biz honchos team up to shred the safety net and strangle the economy. – November 26, 2012  |

A gang of brazen CEOs has joined forces to promote economically disastrous and socially irresponsible austerity policies. Many of those same CEOs were bailed out by the American taxpayer after a Wall Street-driven financial crash. Instead of a thank-you, they are showing their appreciation in the form of a coordinated effort to rob Americans of hard-earned retirements, decent medical care and relief for the poorest.

Using the excuse of a phony, manufactured crisis known as the “fiscal cliff” – which isn’t a crisis at all, as economist James K. Galbraith has succinctly explained — they are gearing up to pull the wool over the public’s eyes by cutting Social Security, Medicare and Medicaid. The CEOs are part of the Fix the Debt campaign run by the Peter Peterson-backed Center for a Responsible Federal Budget, which plans to unleash tens of millions pushing for a deficit reduction deal that favors the rich in the lame-duck session and beyond.

You can be sure that many more CEOs in addition to the names on the list below sympathize with plans to shred the social safety net and enjoy windfall tax breaks. But these Scrooges are so bold as to publicly announce their desire to pick the pockets of fellow Americans while simultaneously pigging out at the corporate welfare trough. Multitasking!

A generation ago, an American CEO would think twice about announcing utter disregard not only for his neighbors and employees, but also for the economy, which can’t prosper when income is consistently redistributed upward (see Nobel laureate Joseph Stiglitz’s The Price of Inequality for more on that theme). But in the present culture — even after the Occupy Wall Street movement – these business barons feel perfectly comfortable trumpeting their desire to get richer at your expense.

Here’s a sample of the Fix the Debt CEO Council Hall of Shame. (Download the complete list at the organization’s Web site.)

You can find the complete article here.


Lynn Parramore is an AlterNet senior editor. She is cofounder of Recessionwire, founding editor of New Deal 2.0, and author of ‘Reading the Sphinx: Ancient Egypt in Nineteenth-Century Literary Culture.’ She received her Ph.d in English and Cultural Theory from NYU, where she has taught essay writing and semiotics. Parramore is a frequent commenter on political, economic and cultural topics on television, radio, and web outlets. She is the Director of AlterNet’s New Economic Dialogue Project. Follow her on Twitter @LynnParramore.

Advertisements

~ by katrinataylor44 on November 27, 2012.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

 
%d bloggers like this: