I was recently asked if multinational corporations had replaced statues of worship, similar to those worshipped by the Romans – Mercury the messenger of the gods (Google), Mars, the god of war (Lockheed Martin), etc. I will give an opinion hereinafter, but will commence by giving some insight into the financial affairs of corporations, which will confirm an aspect of them.
In April, 2014, the American Public Interest Research Group (PIRG), reported that American corporations used offshore tax havens to evade paying $184 billion in income taxes in 2013.
However, these figures need some clarification. Big tech companies, such as Apple and Google, used the system to pay 80% less taxes on profits they made abroad, such as in Britain, than they would have in America.
Generally, 28 companies in the S&P 100 paid less tax (as a percentage), than the ‘average’ American. Some corporations paid no tax at all, having claimed they made no profits – by making large investments into their pension funds, or using their (Star) bucks to offset royalty payments, etc.
Given this, it is shambolic for any British Chancellor to claim that Britain attracts investment on the basis of a low rate of corporation tax – whether 30%, 25%,or 20%, all rates = 0 if tax is not paid.
American corporations paying most tax are oil companies, such as Exxon (which earned $44 billion in 2012), which typically pay 40% tax. The contributions these companies make to the American economy explains the motivation behind oil and gas wars.
Those supporting lower taxes for corporations (and their legal use of tax havens and tax avoidance schemes), claim that they need more profit to create new jobs.
This is a prize-winning porky. The largest American corporations are sitting on top of a $2 trillion cash heap, which they do not invest. The real wages of most consumers are dropping, and there is no demand for more products. Instead of investing, corporations keep their stocks at artificially high levels by buying them.
Neither do big corporations need to pay less tax to be internationally competitive. There is no such beast as a large national corporation – they are all multinational, with tentacles in every jurisdiction. They park their money in the cheapest parking lot, and if that lot is zilch, then zilch gets it.
What does this inform us about one aspect of corporations? They legally pay as least tax as possible, the exception being oil companies, which are an integral part of government.
The British government takes the Pulitzer in hypocrisy when it vilifies corporations for not paying enough tax. Britain is the corrupt heart of a system that shelters the monies of corporations, criminals, dictators, and aristocrats.
Many tax avoiding facilities are under British jurisdiction. The City of London launders profits made by Wall Street bankers in dealings not permissible in America.
This is not to infer that corporations and their bedfellows do not have hearts of gold. One CEO recently rescued a sacked council worker, giving her one of the many jobs being created in George’s booming Britain.
“Hi, my name is Jane. I can’t stop to say much. Lord George only pays me by the minute, not for any time travelling between the scullery and him!”.
Yet, such Victorian levels of benevolence are but a smokescreen. The British Chancellor asks his fellow aristocrats for a donation from their secret Swiss bank accounts. In return for retaining their secrecy, George asks them for a whip-round. “Come on, old chaps, times are hard, and it will fool people into thinking that we are all in it together”.
Not that secrecy could be threatened, as many Swiss bank accounts are held by politicians and their families. For their ‘donation’, aristocrats and their ilk receive impunity from prosecution, which, of course, is not extended to the peasant, who would be sent to the clink for a relatively minor tax evasion.
Whatsmore, British aristocrats are only asked to donate from one of their many (tax avoiding) pockets. They are not asked to dig into their Jersey and Cayman Island acounts. This is the new Victorian Britain – the clink for minor theft, and a “thank you Charles” for returning a fraction of a fortune.
Have multinational corporations replaced statues of worship? Not to the peasantry. Corporations are only worshipped by aristocratic politicians, who give them the same leeway to avoid tax as they give themselves. That is, they invest in corporations, to which they have given government contracts, then stash their profits in the same tax haven. When finished as politicians, they get senior jobs in corporations, naturally, for they know their old school chum, “old Charles”, is going to award the next contract. Credit where it is due – a “dashed clever scheme”.
The true identity of these ‘politicons’ can now be revealed. The sheer mental effort of constant lying has resulted in some of them being unable to maintain the projection of their outer image. It can be revealed that our politicians are, in fact, bananas!, and of a very exclusive variety – they are Eton bananas!
CHARLES, THE SUPREME LEADER OF THE NEW WORLD ORDER
Given the Siamese-twin relationship between corporate executives and politicians, it follows that they are of the same species. There we have it – our rulers are not of flesh and blood – they are Eton bananas!
Definition of mad, Collins English Dictionary … ‘bananas, barking, raving, distracted, frantic, frenzied, unstable, crackers, batty, crazed, lunatic, loony, psychotic, demented, cuckoo, unbalanced, barmy, nutty, deranged, delirious, rabid, bonkers, flaky, unhinged, loopy, crackpot, out to lunch, round the bend’.
Take your pick of these bananas, as we are asked to every 5 years.
lenin nightingale 2014