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26 U.S. companies pay more to CEO than in taxes

Twenty-six big U.S. companies paid their CEOs more last year than they paid the federal government in tax, according to a study released Thursday by a liberal-leaning think-tank.

The study, by the Institute for Policy Studies, said the companies, including AT&T, Boeing and Citigroup, paid their CEOs an average of $20.4 million last year while paying little or no federal tax on ample profits, according to regulatory filings.

On average, the 26 companies generated net income of more than $1 billion in the U.S., the study said.

The study blasted tax rules allowing unlimited deductions for CEO "performance-based" pay, like many stock options. It said the five biggest performance payers among the 26 companies took $232 million of these deductions last year.

Among the "kingpins" it criticized was CEO James McNerney Jr. of Boeing. It said he got $18.4 million in pay last year while his company received a tax refund of $605 million.

The study also laid into Citigroup for paying CEO Vikram Pandit $14.9 million while the bank received a net $144 million in tax benefits.

Eighteen of the 26 companies received cash back or credits to apply against tax in the future, according to the report.

The study, a 45-page attack on the corporate tax code, said deductions and credits are allowing companies to lavish big pay packages on executives so they can cut their tax bills while Washington gets less money in a time of trillion-plus deficits.

"Our nation's tax code has become a powerful enabler of bloated CEO pay," the study said.

To calculate tax, the study used companies' own math based on accounting rules. Regulators require companies to estimate their tax bill and disclose it in public documents for investors.

The tax filings the companies make to the government, typically in September, are private and can differ from the estimate.

Another problem is that the study doesn't count tax the company plans to pay but has deferred to future years. The authors argue that deferred tax can be put off indefinitely.

Charles Bickers, a Boeing spokesman, said that the company's federal tax bill, including deferred tax, was $1.3 billion last year, not a net credit, as the think-tank 's study found.

Boeing did lower its tax, in part by using a popular tax credit encouraging companies to spend more on research and development. Bickers said that helped the company hire 11,000 people in the U.S. last year.

"Boeing supports a simpler, more competitive tax code. At the same time, we have put the R&D tax credit to exactly the use it was designed — creating U.S. jobs in a high-value, advanced technology industry," he said in a statement.

The Institute for Policy Studies said Boeing would have spent the money on R&D without the credit.

In addition to performance-pay deductions and R&D credits, the report criticized the use of tax havens that allow technology companies, for instance, to assign intellectual-property rights to shell companies in the Cayman Islands, so they can run profits through them and avoid taxes. It noted that 26 companies have a combined 537 subsidiaries in tax-haven countries.

The study also cited accelerated depreciation on investments, which allow a company to take deductions for big-ticket purchases in one year, as opposed to over several years. That cuts taxes in the first year.

The study said AT&T used accelerated depreciation to save $5.2 billion on its 2011 taxes while paying CEO Randall Stephenson $18.7 million last year.

Sarah Lubman, an AT&T spokeswoman, said the deductions encouraged the company to make $20 billion in investments last year. She also said that the deductions won't be available to take in future years, which should increase taxes.

A Citigroup spokeswoman noted that the company lost money in 2008 and 2009 and used the losses to offset taxes on profits this year.

© The Associated Press, 2012
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Comments

  • VulchorVulchor FloridaPosts: 4,844 ✭✭✭
    .....Land that I loveeeeee, Stand beside her---------what a freakin joke.
  • JDHJDH Posts: 2,107
    There is one rule for the industrialist and that is: Make the best quality of goods possible at the lowest cost possible, paying the highest wages possible.

    Henry Ford

    That was the old America. Unfortunately, today it's : Make the goods at the lowest possible cost, paying the lowest possible wages, so that profit is maximized, providing the highest possible CEO compensation.
  • phobicsquirrelphobicsquirrel Posts: 7,349
    Yup! ... getting back in the fray doug?
  • xmacroxmacro Posts: 3,402
    - mssg edited. I'm really tired of this class envy from the usual suspects
  • phobicsquirrelphobicsquirrel Posts: 7,349
    xmacro:
    - mssg edited. I'm really tired of this class envy from the usual suspects
    ...uh it's not class envy man.
  • JDHJDH Posts: 2,107
    xmacro:
    - mssg edited. I'm really tired of this class envy from the usual suspects
    It is not about envy. There is no way on God's green earth that I would destroy the lives of thousands, maybe hundreds of thousands with slave wages in order to make myself wealthy beyond my wildest dreams. I don't envy people who have gotten wealth like that, I despise them.

    It's not about envy. It is about recognizing that greed is NOT good, and that it can, and may destroy everything that is good and decent about living in the USA. I would not want to live in a completely unregulated free-market capitalist society any more than I'd want to live under Soviet Communism. Both will produce an economic totalitarianism imposed on the vast majority. It should be remembered that the Communist and the Capitalist, though diametrically opposed in nearly all economic positions, share one trait. They both have complete disdain and contempt for the middle class. The Communist blames it for oppressing the poor, and the Capitalist sees it as a redundant and unnecessary expense that diminishes his profit.

    The measure of a great Nation is not how well it allows the most cunning capitalist to live, it is how decently it cares for the least among us. The Christian understands this, the Social Darwinist (like Aynn Rand and Milton Friedman) believes that society is benefited when the poor die.
  • Amos_UmwhatAmos_Umwhat West TNPosts: 6,411 ✭✭✭✭✭
    xmacro:
    - mssg edited. I'm really tired of this class envy from the usual suspects
    What a hilarious response, and completely expected, too!
    WARNING:  The above post may contain thoughts or ideas known to the State of Caliphornia to cause seething rage, confusion, distemper, nausea, perspiration, sphincter release, or cranial implosion to persons who implicitly trust only one news source, or find themselves at either the left or right political extreme.  Proceed at your own risk.  

    "There is nothing so in need of reforming as another person's bad habits."   Mark Twain
  • laker1963laker1963 Posts: 5,046
    xmacro:
    - mssg edited. I'm really tired of this class envy from the usual suspects
    WOW! Macro... really!? This was NOT intended to be political. It was about fairness.
    I don't really give a rat's ass if you are really tired of what you consider class envy. That is a joke in itself, as you know NOTHING about me or "my class". What a thing to say. I can recognize unfairness and outright wrongness without any trouble whatsoever. If you have problems seeing these things in today's society I feel sorry for you. Now be a good little sheeple and go watch your Fox News.
  • xmacroxmacro Posts: 3,402
    I think this is a forum you guys may appreciate: http://www.reddit.com/r/politics/

    Amos, JDH, and Pheebs especially, you'll get tons of upvotes there and have a ball. Enjoy

    EDIT - Seems this thread topic popped up there as well: http://www.reddit.com/r/politics/comments/ybfa9/26_corporations_including_att_boeing_and/
  • webmostwebmost Dull-AwarePosts: 7,114 ✭✭✭✭✭
    JDH:
    There is one rule for the industrialist and that is: Make the best quality of goods possible at the lowest cost possible, paying the highest wages possible.

    Henry Ford

    That was the old America. Unfortunately, today it's : Make the goods at the lowest possible cost, paying the lowest possible wages, so that profit is maximized, providing the highest possible CEO compensation.
    When Henry Ford died in 1947 he was worth $700 million. $700 million in 1947 had the same buying power as $7,347 million today, in 2012. So he would be a solid seven billionaire. Of course, these calculations use the same cooked CPI which Obamanomics used to deny social security pensioners a cost of living increase two years in a row because, the feds maintained, there was no inflation. If you had a way to calculate using valid numbers, who knows how many billions equivalent Henry would have been worth.

    The real difference is, back in the day you got rich by producing something. These days, you get rich by stock swindling and bank fraud.

    That's the real issue.

    “It has been a source of great pain to me to have met with so many among [my] opponents who had not the liberality to distinguish between political and social opposition; who transferred at once to the person, the hatred they bore to his political opinions.” —Thomas Jefferson (1808)


  • 0patience0patience Oregon CoastPosts: 10,053 ✭✭✭✭✭
    I have no problem with companies paying high salaries to their CEO's and getting a ton of money back, PROVIDED that they have not been bailed out by the federal govt.
    Most of those companies have federal subsidies and as such, should be taxed accordingly.
    In Fumo Pax
    Money can't buy happiness, but it can buy cigars and that's close enough.

    Wylaff said:
    Atmospheric pressure and crap.
  • phobicsquirrelphobicsquirrel Posts: 7,349
    xmacro:
    I think this is a forum you guys may appreciate: http://www.reddit.com/r/politics/

    Amos, JDH, and Pheebs especially, you'll get tons of upvotes there and have a ball. Enjoy

    EDIT - Seems this thread topic popped up there as well: http://www.reddit.com/r/politics/comments/ybfa9/26_corporations_including_att_boeing_and/
    Maybe you should go over to fox news forums, I'm sure you'll be happy as a teabagger in a rally against health care reform and keeping the for profit insurance companies in charge.
  • phobicsquirrelphobicsquirrel Posts: 7,349
    0patience:
    I have no problem with companies paying high salaries to their CEO's and getting a ton of money back, PROVIDED that they have not been bailed out by the federal govt.
    Most of those companies have federal subsidies and as such, should be taxed accordingly.
    yes, and also not **** employees and customers.
  • xmacroxmacro Posts: 3,402
    phobicsquirrel:
    xmacro:
    I think this is a forum you guys may appreciate: http://www.reddit.com/r/politics/

    Amos, JDH, and Pheebs especially, you'll get tons of upvotes there and have a ball. Enjoy

    EDIT - Seems this thread topic popped up there as well: http://www.reddit.com/r/politics/comments/ybfa9/26_corporations_including_att_boeing_and/
    Maybe you should go over to fox news forums, I'm sure you'll be happy as a teabagger in a rally against health care reform and keeping the for profit insurance companies in charge.
    Actually, Reddit has a Fox News forum, and I think you'd enjoy it even more than their politics forum. Here's a recent sampling from http://www.reddit.com/r/foxnews

    - US Olympians Wonder Why Fox News Calls Themselves News
    - I could type out all of things about that I hate about Fox News...
    - Jon Stewart Explains Fox News Gay Marriage Reaction

    Those are the current top 3 topics; I think you'd enjoy it quite a bit more than I would

  • VulchorVulchor FloridaPosts: 4,844 ✭✭✭
    I guess I am envious in a way. Envious for the fact that these guys have this amount of money, but over 20% of children in Orlando (and more in bigger cities) only get a meal when they go to school. Doesnt make me envious, makes me wish we had a solution for this kind of greed-----a "final solution" perhaps....pardon the pun and nothing meant toward the Jews there either.
  • fla-gypsyfla-gypsy Posts: 3,024 ✭✭
    I love it when the words fairness and greed are tossed around which are so subjective they have no absolute definition. More power to them I wish I made that kind of money. It's like some of you think there is something wrong with making money! If you have a problem with capitalism I don't know what to tell you. I'll take as much as I can get as long as it's obtained in a moral, legal, and ethical manner.
  • scarlinscarlin Posts: 1,592
    It would be nice if AT&T upgraded their cell towers eventually. I've had more dropped calls in 1 year than 8 with VZ. I don't care about their taxes, I just want good service!
  • laker1963laker1963 Posts: 5,046
    fla-gypsy:
    I love it when the words fairness and greed are tossed around which are so subjective they have no absolute definition. More power to them I wish I made that kind of money. It's like some of you think there is something wrong with making money! If you have a problem with capitalism I don't know what to tell you. I'll take as much as I can get as long as it's obtained in a moral, legal, and ethical manner.
    I love it when people make such comments, after such a post.

    The moral, and ethical manner in which these monies are got is the whole subject of the story. (shaking head)

    If you think it is moral and ethical with your country in the shape it is in, and with taxpayers forking over bailout money to some of these same companies that act like this... then I think your moral and ethical compass need calibration.

    With some of your comments from the past, you throwing your support behind these types of practices is not really surprising to many of us either.
  • fla-gypsyfla-gypsy Posts: 3,024 ✭✭
    laker1963:
    fla-gypsy:
    I love it when the words fairness and greed are tossed around which are so subjective they have no absolute definition. More power to them I wish I made that kind of money. It's like some of you think there is something wrong with making money! If you have a problem with capitalism I don't know what to tell you. I'll take as much as I can get as long as it's obtained in a moral, legal, and ethical manner.
    I love it when people make such comments, after such a post.

    The moral, and ethical manner in which these monies are got is the whole subject of the story. (shaking head)

    If you think it is moral and ethical with your country in the shape it is in, and with taxpayers forking over bailout money to some of these same companies that act like this... then I think your moral and ethical compass need calibration.

    With some of your comments from the past, you throwing your support behind these types of practices is not really surprising to many of us either.
    Wow you got all that about me from a post. You must be psychic opr something. If a dude makes a gazillion dollars a year in the legal pursuit of business what is that to me or you? I loathe my government for taking money from it's citizens and giving it to those who didn't earn it. I didn't see any claim that it was illegal money they were gathering, and the libs redefine ethical and moral everyday to protect their positions. The economy in this country while bordering on facism (in the economic sense, well.. sometrimes political too) is still rooted in capitalism and the purpose of capitalism is wealth generation and gain. I am OK with that still. Heck I am trying to generate as much as I can for me but the idiots currently possessing the the govt have their hand so deep in my pocket I am starting to have feelings for them, but not good ones.
  • stadstad Posts: 396 ✭✭
    Wow!!! What a concept! KEEPING the money you earn. These people sound like monsters. Who would do such a thing?
  • pelirrojopelirrojo Farmington, NMPosts: 1,759 ✭✭✭
    I had something profound typed out here, and then I decided I'll keep my politics to myself. I don't do much arguing these days. I can see both sides on this one. Now, that was profound.
  • laker1963laker1963 Posts: 5,046
    fla-gypsy:
    laker1963:
    fla-gypsy:
    I love it when the words fairness and greed are tossed around which are so subjective they have no absolute definition. More power to them I wish I made that kind of money. It's like some of you think there is something wrong with making money! If you have a problem with capitalism I don't know what to tell you. I'll take as much as I can get as long as it's obtained in a moral, legal, and ethical manner.
    I love it when people make such comments, after such a post.

    The moral, and ethical manner in which these monies are got is the whole subject of the story. (shaking head)

    If you think it is moral and ethical with your country in the shape it is in, and with taxpayers forking over bailout money to some of these same companies that act like this... then I think your moral and ethical compass need calibration.

    With some of your comments from the past, you throwing your support behind these types of practices is not really surprising to many of us either.
    Wow you got all that about me from a post. You must be psychic opr something. If a dude makes a gazillion dollars a year in the legal pursuit of business what is that to me or you? I loathe my government for taking money from it's citizens and giving it to those who didn't earn it. I didn't see any claim that it was illegal money they were gathering, and the libs redefine ethical and moral everyday to protect their positions. The economy in this country while bordering on facism (in the economic sense, well.. sometrimes political too) is still rooted in capitalism and the purpose of capitalism is wealth generation and gain. I am OK with that still. Heck I am trying to generate as much as I can for me but the idiots currently possessing the the govt have their hand so deep in my pocket I am starting to have feelings for them, but not good ones.
    This was NOT a political statement, and I didn't write it I just pasted it for comment. I guess you can't discuss anything without it going to politics. Sad.

    I guess you find it ethical for these Corporate Welfare types to dip into public money so they can ethically take the well earned and hard worked for wages they deserve? The fact that there is nothing left over for anyone else in society by the time these moral and ethical folks have finished feeding at the trough is just a consequence of a well run capitalist system, I guess?

    As for being psychic? No, As I stated clearly (even if you didn't actually read it before you responded) that my comment was based on past comments you have made on this and related subjects. I didn't post this as a political statement ( I feel the need to state that again) Gypsy, you went there and also threw in a comment about my throwing around such subjective terms etc. You state your beliefs pretty clearly. Why would I need to be psychic? Nobody asked you about your feelings for the government and frankly I don't care. This was a post about corporate greed.
  • Amos_UmwhatAmos_Umwhat West TNPosts: 6,411 ✭✭✭✭✭
    fla-gypsy:
    I love it when the words fairness and greed are tossed around which are so subjective they have no absolute definition. More power to them I wish I made that kind of money. It's like some of you think there is something wrong with making money! If you have a problem with capitalism I don't know what to tell you. I'll take as much as I can get as long as it's obtained in a moral, legal, and ethical manner.
    I don't think any of us have a problem with folks making money, it's when they just start Taking the money that it's a problem. The takers involved have no problem seeing their corporation as an entity unto itself, when it suits their political needs. Then they turn around and scream "MINE" as they cart off all the cash the corporation earns, as if all the other members of the endeavor were merely their slaves. Maybe you think thats alright, and maybe there is some subjectivity in the term, but any kid on any team sport can tell you, it's not just the quarterback who wins the game, and to give only that one player the credit, or the cash, is NOT FAIR. Think (really, think) about it.
    WARNING:  The above post may contain thoughts or ideas known to the State of Caliphornia to cause seething rage, confusion, distemper, nausea, perspiration, sphincter release, or cranial implosion to persons who implicitly trust only one news source, or find themselves at either the left or right political extreme.  Proceed at your own risk.  

    "There is nothing so in need of reforming as another person's bad habits."   Mark Twain
  • phobicsquirrelphobicsquirrel Posts: 7,349
    laker1963:
    fla-gypsy:
    laker1963:
    fla-gypsy:
    I love it when the words fairness and greed are tossed around which are so subjective they have no absolute definition. More power to them I wish I made that kind of money. It's like some of you think there is something wrong with making money! If you have a problem with capitalism I don't know what to tell you. I'll take as much as I can get as long as it's obtained in a moral, legal, and ethical manner.
    I love it when people make such comments, after such a post.

    The moral, and ethical manner in which these monies are got is the whole subject of the story. (shaking head)

    If you think it is moral and ethical with your country in the shape it is in, and with taxpayers forking over bailout money to some of these same companies that act like this... then I think your moral and ethical compass need calibration.

    With some of your comments from the past, you throwing your support behind these types of practices is not really surprising to many of us either.
    Wow you got all that about me from a post. You must be psychic opr something. If a dude makes a gazillion dollars a year in the legal pursuit of business what is that to me or you? I loathe my government for taking money from it's citizens and giving it to those who didn't earn it. I didn't see any claim that it was illegal money they were gathering, and the libs redefine ethical and moral everyday to protect their positions. The economy in this country while bordering on facism (in the economic sense, well.. sometrimes political too) is still rooted in capitalism and the purpose of capitalism is wealth generation and gain. I am OK with that still. Heck I am trying to generate as much as I can for me but the idiots currently possessing the the govt have their hand so deep in my pocket I am starting to have feelings for them, but not good ones.
    This was NOT a political statement, and I didn't write it I just pasted it for comment. I guess you can't discuss anything without it going to politics. Sad.

    I guess you find it ethical for these Corporate Welfare types to dip into public money so they can ethically take the well earned and hard worked for wages they deserve? The fact that there is nothing left over for anyone else in society by the time these moral and ethical folks have finished feeding at the trough is just a consequence of a well run capitalist system, I guess?

    As for being psychic? No, As I stated clearly (even if you didn't actually read it before you responded) that my comment was based on past comments you have made on this and related subjects. I didn't post this as a political statement ( I feel the need to state that again) Gypsy, you went there and also threw in a comment about my throwing around such subjective terms etc. You state your beliefs pretty clearly. Why would I need to be psychic? Nobody asked you about your feelings for the government and frankly I don't care. This was a post about corporate greed.
    If it makes any difference so many of the laws for these companies have been bought since they lobby so hard for lawmakers to make it LEGAL for them to do what they do. Doesn't mean it's right. If only the everyday person had that kind of lobbying power. The way the system has been lately the common folk are on their way out. The current congress even voted against stopping the tax breaks and loop holes for companies closing up shops here and shipping jobs overseas. So they are fine with companies harming our country but against strengthening our country by keeping jobs and businesses here.
  • Roberto99Roberto99 Posts: 1,077
    Amos Umwhat:
    fla-gypsy:
    I love it when the words fairness and greed are tossed around which are so subjective they have no absolute definition. More power to them I wish I made that kind of money. It's like some of you think there is something wrong with making money! If you have a problem with capitalism I don't know what to tell you. I'll take as much as I can get as long as it's obtained in a moral, legal, and ethical manner.
    I don't think any of us have a problem with folks making money, it's when they just start Taking the money that it's a problem. The takers involved have no problem seeing their corporation as an entity unto itself, when it suits their political needs. Then they turn around and scream "MINE" as they cart off all the cash the corporation earns, as if all the other members of the endeavor were merely their slaves. Maybe you think thats alright, and maybe there is some subjectivity in the term, but any kid on any team sport can tell you, it's not just the quarterback who wins the game, and to give only that one player the credit, or the cash, is NOT FAIR. Think (really, think) about it.
    I worked in a large corporate 'non-profit' money making machine and found the system absolutely insane. I wonder what it will take to change.
  • xmacroxmacro Posts: 3,402
    Amos Umwhat:
    fla-gypsy:
    I love it when the words fairness and greed are tossed around which are so subjective they have no absolute definition. More power to them I wish I made that kind of money. It's like some of you think there is something wrong with making money! If you have a problem with capitalism I don't know what to tell you. I'll take as much as I can get as long as it's obtained in a moral, legal, and ethical manner.
    I don't think any of us have a problem with folks making money, it's when they just start Taking the money that it's a problem. The takers involved have no problem seeing their corporation as an entity unto itself, when it suits their political needs. Then they turn around and scream "MINE" as they cart off all the cash the corporation earns, as if all the other members of the endeavor were merely their slaves. Maybe you think thats alright, and maybe there is some subjectivity in the term, but any kid on any team sport can tell you, it's not just the quarterback who wins the game, and to give only that one player the credit, or the cash, is NOT FAIR. Think (really, think) about it.
    Yeah, the gubmint should step in and make everything FAIR - that's their biggest job these days anyway. Tell those evil, greedy corporations how to spend their moneyz and how it should be spread around and FAIR. Those companies didn't succeed on their own anyway, it's only FAIR the gubmint tell them how to spend their success

    EDIT - on another note, fairness is a common theme in r/politics, and is accepted as a reason to do exactly what you're proposing:

    http://www.reddit.com/r/politics/comments/ybfa9/26_corporations_including_att_boeing_and/

    http://www.reddit.com/r/politics/

  • phobicsquirrelphobicsquirrel Posts: 7,349
    xmacro:
    Amos Umwhat:
    fla-gypsy:
    I love it when the words fairness and greed are tossed around which are so subjective they have no absolute definition. More power to them I wish I made that kind of money. It's like some of you think there is something wrong with making money! If you have a problem with capitalism I don't know what to tell you. I'll take as much as I can get as long as it's obtained in a moral, legal, and ethical manner.
    I don't think any of us have a problem with folks making money, it's when they just start Taking the money that it's a problem. The takers involved have no problem seeing their corporation as an entity unto itself, when it suits their political needs. Then they turn around and scream "MINE" as they cart off all the cash the corporation earns, as if all the other members of the endeavor were merely their slaves. Maybe you think thats alright, and maybe there is some subjectivity in the term, but any kid on any team sport can tell you, it's not just the quarterback who wins the game, and to give only that one player the credit, or the cash, is NOT FAIR. Think (really, think) about it.
    Yeah, the gubmint should step in and make everything FAIR - tell those evil, greedy corporations how to spend their moneyz and how it should be spread around and FAIR. Those companies didn't succeed on their own anyway, it's only FAIR the gubmint tell them how to spend their success
    as an example from the OP, citigroup didn't succeed by itself, it merged with another company to make itself even larger - http://www.guardian.co.uk/business/2008/nov/21/citigroup-banking1

    Also when it was citicorp it still had help from the govt via taxes and other "commons" structures to get it up and running. It even now continues to get money from us (the govt). So yeah it is in our (the people) interest on how many of these companies spend their money and especially when they can and have wrecked both our (the United States') economy and how we are respected around the world.
  • fla-gypsyfla-gypsy Posts: 3,024 ✭✭
    I am dead set against any corporate entity or business getting "help" from the govt. That is not the function of govt. I am also dead set against the govt getting any more of my money or borrowing anymore money but I find myself in a unique minority these days. As for my moral and ethical compass (I consider it one in the same) I use an absolute written standard for it that never changes whether I like it or not. It is a lot simpler that way
  • VulchorVulchor FloridaPosts: 4,844 ✭✭✭
    I would find it hard to be so black and white in such a grey world.
  • JDHJDH Posts: 2,107
    "I am dead set against any corporate entity or business getting "help" from the govt...."

    What about all those socialist defense contractors? They need to take their business into the free marketplace where it belongs! And what about all those socialist businesses that sell stuff to the government? To hell with that, eh? Dang straight. Git the bling blang guvermint offen the backs of business! What about all them airlines? They don't need no help from the bling blang guvermint! What about them hospitals? They don't need no help from the bling blang guvermint neither! No sireebob! And what about all that research commin outta our State Supported socialist Universities! Shut 'em down I say! Let our businesses git the help they need from themselves! We don't need no Postal Service neither, and all of these businesses that sell stuff to the Postal Service can jest go find somebody else to sell stuff to. And what about all these farm sibsidsies? These bling blang farm corporations who call themselves farmers can just go farm without any help from the bling blang guvermint! So what if food prices go through the bling blang roof, we got to git the bling blang govermint offen our backs! And there aint no corporations looikin to the guvermint for a sweetheart tax break is there? Well to hell with that, too! They don't need no help from the guvermint neither!

    BRILLIANT!
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