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CEO Group Catfood Manifesto

Rainbow Girl's picture

Business Roundtable CEOs announce their proposal to impose Austerity "fix the debt." This is grotesque.

(1) push eligibility age to 70 (SSI and Medicare)
(2) chained CPI
(3) some vague "means testing" for "some people"
(4) a goody for private health insurers (not again!): they get to compete with Medicare.

The CEO quotes are in a doublespeak class of their own. E.G. The ATT CEO (Randall Stephenson) likes his own proposal because it "dovetails very nicely with the demographic realities of the workforce ... We are going to need our employees to work longer just to fill the needs that we have in the work force.” [Parsing party.]

The worst (if there's room left for that) is Ralph Loveman [real name], CEO of Cesar's Entertainment on why expanding the base income to which FICA applies (**) is not in the CEO List of Fixes. It's because Increasing Taxes on Rich People Would be Bad for the Economy. Seriously. Here it is: because the income base on which Americans pay Social Security payroll tax would have to increase “very substantially [i.e. even I, Mr. Loveman, would have to pay more] to draw a sufficient level of revenue to address the long-term solvency of the program.” It's pretty obvious why Love-man did not use plain English. But still, Whoa!

(**) NOTE - Of all the fixes for the Fake Deficit this was the one that would bring in the cash in a flash (and in spades) whilst having the virtue of (belatedly -- 50 years or so) making FICA somewhat less regressive. To be fair, these are obviously two big negatives if you're in the Business Roundtable.

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Alexa's picture
Submitted by Alexa on

Kent Conrad video that I posted last November.

He is speaking to a group similar to the Business Roundtable. Here's the link to the post, and a repost of just the Conrad video from the Wall Street Journal CEO Council.

Here's the Conrad video:

Rainbow Girl's picture
Submitted by Rainbow Girl on

... from DC Blogger's link. I had some random fun with a few of these, but really, it's a wonderfully representative roll call of the Lords of Kleptocracy USA, the biggest users of government programs and tax money!

Boeing Company
Dow Chemical Company
MasterCard Worldwide
American Express Company
JP Morgan (Jimmy Big-Whale Dimon)
General Electric Company
McGraw Hill Companies
State Farm Insurance Companies
Exxon Mobil Corporation (*)
AT&T Inc.
Honeywell International, Inc. (1)
Procter & Gamble Company (2)
Frontier Communications Corporation (3)
Xerox Corporation (4)
Wal-Mart Stores, Inc. (5)
Eaton (6)
Caterpillar Inc.
Caesars EntertainmentCorporation (7)

(*) Rex W. Tillerson, CEO -- he's on the "Education and Workforce Committee" -- (could this be where they sort out how to eliminate jobs, kill people over 30 by starvation, reduce wages to zero, give jobs to poor people in foreign countries, and educate (bribe) politicians to help out?)

(1) CEO David M. Cote -- he's on the Energy and Environment Committee -- Frack-Baby-Frack?

(2) Robert A. McDonald, CEO -- he's the Vice Chair and Committee Chair (2 positions!) of the Tax and Fiscal Policy Committee -- hmm, I'm guessing strategic implementations in ltrans-national corporate tax avoidance.

(3) CEO is one of two ladies in this club.

(4) CEO is the second lady in the club

(5) CEO Michael T. Duke, an At Large Member -- makes sense: global company, lots of globetrotting (at large).

(6) CEO Alexander M. Cutler, a very clean shaven and shiny-faced fellow (blue eyes!) -- he's on the Corporate Governance Committee -- lots of sitting around cracking each other up about (ha ha) "governance" and "compliance."

(7) CEO Gary Loveman -- he's on the Health and Retirement Committee -- and we already know what this group's been up to! (See Main Post). (Overheard eavesdropping on one of the Committee's meeting: " ... most of them will croak before 70 because they won't have health insurance ... motion carries on proposing eligibility age 70 on SSI and Medicare ... Jack, anything left in that Laphroaig bottle ... ha ha ..." )

Rainbow Girl's picture
Submitted by Rainbow Girl on

I'm glad you like it! Let's see if it flutters beyond this great little place (Corrente Wire, where those of us go who have "nowhere to go"!)