Pity the 1%! Billionaires Bemoan Criticism by ‘Imbeciles’
 |
|
It’s tough these days being a member of the top 1 percent, what with all the complaints about the widening income gap and tax breaks for billionaires, not to mention the demands of the 99 percent for a little accountability. “It feels lonely…,” said John A. Allison IV, former CEO of BB&T, one of the nation’s top 10 banks, to Bloomberg News.
Or, as billionaire Tom Golisano, founder of Paychex Inc., so delicately put it, according to Bloomberg:
“If I hear a politician use the term ‘paying your fair share’ one more time, I’m going to vomit,” said Golisano, who turned 70 last month, celebrating the birthday with girlfriend Monica Seles, the former tennis star who won nine Grand Slam singles titles.
Even Jamie Dimond, the J.P. Morgan Chase CEO who took home a cool $23 million last year, and John Paulson, the billionaire hedge fund manager, have publicly bemoaned their targeting by Occupy Wall Street and other detractors.
So what’s a lonely, nauseous billionaire to do? Organize!
Enter the so-called Job Creators Alliance (JCA), a sort of one-stop messaging operation, complete with a speakers bureau and media booking operation for those underappreciated fat cats. The group’s 17 featured business leaders say they aim to “shape the national agenda,” according to the JCA website. Read the rest of this entry »
Corporate Greed Behind Opposition to Employee Free Choice
Pundits, journalists and even economists have strained to find the reasons for our nation’s economic meltdown, stumbling over tortured concepts like “structured investment vehicles” and “collateralized debt.”
The underlying problem is much simpler. In fact, it can be described in six words: The corporate search for cheap labor.
While some people may have overextended themselves by taking out loans on their homes or piling up credit card debt for non-essentials, millions of Americans had no choice but to survive through debt. They needed to pay for health care, college tuition and car repairs. Why? Because even working two or three jobs, they aren’t paid sufficiently to support their families. Harvard law professor Elizabeth Warren repeatedly has discussed how the majority of personal bankruptcies happen after a medical crisis or job loss, rather than because of too many 124-inch flat screen TV sets.
