The Corporate Betrayal of America — Ripping off the Public, Running off with the Profits to Avoid Taxes

The huge multinationals have made it clear; they don’t feel obliged to give anything back to the people who made it all possible.

Photo Credit: AFP

April 7, 2013  |  
 

Multinational corporations have built their businesses on the backs of American taxpayers. They’ve depended on government research, national defense, the legal and educational systems, and our infrastructure.

Yet they’ve turned around and mocked us with declining tax payments. They’ve cut workers. They’ve refused to invest their massive profits in job-producing research and development. And they’ve insulted existing employees with low wages and dwindling retirement support.

As a final disdainful act, many of them have tried to convince us that they LOSE money in the U.S. while only making profits overseas.

Here are the facts.

Business Built on Our Backs

(a) Research

The most essential aspect of business growth is the long-term basic research that is largely  conducted with government money. Starting in the 1950s, taxpayer-funded research at the Defense Advanced Research Projects Agency (the Internet), the National Institute of Health (pharmaceuticals), and the National Science Foundation (the Digital Library Initiative) has laid a half-century foundation for corporate product development. Even today  60% of university research is government-supported.

The tech industry is a special case, with many computer and communications companies coming of age in the 1990s, when industry  funding for computer research declined dramatically and government research funding continued to climb. As of 2009  universities were still receiving ten times more science & engineering funding from government than from industry.

(b) Infrastructure…

CONTINUE READING HERE!

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