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Offline kelee877

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Corporate America Stashes $206 Billion Overseas, Fights Minimum Wage Hike, Is The Worst


Hey, Corporate America, are you befuddled as to why you are widely considered the mustache-twirling villain in the tragicomedy that is the U.S. economy? Here are two pieces of news that might help explain.First, your chief financial officers shipped $206 billion in cash to overseas tax shelters last year, Bloomberg reported on Wednesday. The total amount of cash held in offshore havens rose to $1.95 trillion, according to Bloomberg, which is more than the combined market values of the six biggest companies in the U.S.(Fun fact: Some of those six companies are also major hoarders of offshore cash -- Apple, Exxon, Google and GE alone have $250 billion parked offshore, according to Bloomberg.)To add insult to injury, or maybe injury to injury, corporate CFOs are also staunchly opposed to raising the minimum wage, according to a new survey by Duke University and CFO Magazine.
About 39 percent of the 216 U.S. CFOs surveyed said they would cut jobs if the minimum wage were higher, including nearly 57 percent of CFOs in the retail industry and 40 percent of manufacturing CFOs. These companies are worried that having to pay their lowest-paid workers slightly more will crush their profits.Meanwhile, corporate profits are at record highs, and worker wages have not budged for decades, when adjusted for inflation.The CFO survey is not scientific, given its small sample size. And it is encouraging that 61 percent of CFOs said they wouldn't cut jobs if the minimum wage were higher. In fact, many studies have suggested that a higher minimum wage would result in little or no job loss.http://www.huffingtonpost.com/2014/03/12/corporate-america-is-the-worst_n_4948999.html?utm_hp_ref=canada&ir=Canada&utm_hp_ref=canada
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Offline JustABear

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It isn't "Corporate America" any longer.... it is "CORPORATE WORLD".... Business no longer has any sense of national identity or loyalty. Only what is best for the bottom line. As for minimum wage... wait till that fortune that workers in Bangladesh make comes to your town. Government AND business is working hard and successfully to drive the wedge between those in the work force who 'have' and those who have not. What I am addressing is unionized workers who make a living wage, perhaps have benefits and some manner of pension who have the rest pitted against them. And the VERY sad thing is that those at or near the bottom don't see the bar and attempt to pull themselves up to it through organizing, pressure on the government and targeted purchasing; they attempt to pull everyone else DOWN. They work for the oppressors. Those who rail against government workers, nurses, teachers and everyone else because they are perceived to be getting too much are fools at best. They parrot the government and corporate line and work with them to reduce the standard of living. Do you honestly think that by pulling others down YOU will raise your standard? If you do you are a fool. Look at what works and join ... be like your grandfathers and great grandfathers were 100 years ago and have the courage and strength to fight for what is being taken away from you.
THERE ARE NO PROBLEMS... ONLY OPPORTUNITIES FOR SOLUTIONS

JAB

Offline tazweiss

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Don't forget JAB.  Apathy is easier.
Amateurs built the Ark.
Professionals built the Titanic.

Offline JustABear

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Certainly apathy is easier.... but then don't have the balls to whine and rail against those who WILL fight but not against those who are your true enemies. It is also  easier to be a sheep... but you WILL continually get sheared.
THERE ARE NO PROBLEMS... ONLY OPPORTUNITIES FOR SOLUTIONS

JAB

Offline Henry

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In my opinion if I had tons of money and saw if I pay my share to the government and the government waste it on some so ridiculous things I would hide it too. Just listen  to Obamas ideas on spending peoples money you will understand why.
Henry

Offline JustABear

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Henry... it isn't about the individual trying to hang onto the money they have earned... it is about the corporation taking in EVERY way and giving nothing in return. Modern slavery.
THERE ARE NO PROBLEMS... ONLY OPPORTUNITIES FOR SOLUTIONS

JAB

Offline Henry

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Sorry      behind every corporation are people      investors and company owners.
That is my take on it.
Henry

Offline tazweiss

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Sorry      behind every corporation are people      investors and company owners.
That is my take on it.
Henry

Unfortunately, those investors and company owners usually care about money over people.
Amateurs built the Ark.
Professionals built the Titanic.