Guess who had more cash than the Treasury Dep't. Hint: Rhymes with shmanks and shmorporations.

Guess who had more cash than the Treasury Dep’t. Hint: Rhymes with shmanks and shmorporations.

Posted by GottaLaff

· Monday, July 18th, 2011 at 4:17 pm

Think Progress has a startling visual (and details, of course). Check out who, as of July 13, had more cash on hand than our own U.S. Treasury:

Two of the top three companies are Chinese, while Bank of America comes in third. The numbers effectively rebut Republican claims that the government has plenty of money to keep funding essential services while paying down its debt. It also belies GOP claims that companies are in need of lower corporate taxes. American corporations have a record amount of cash — they are just refusing to invest domestically while lobbying for tax breaks.

Unacceptable. 29 public companies had more cash than our own Treasury Department. Something must change in this country, and we the people will have to make that happen.

3 Comments

Categories : Uncategorized

Tags : corporate America, corporate power, it's all about money, Treasury Department

Betsall16

Time to tax the rich…Bet Not
Mike

I agree that these statistics are appalling, particularly from the profit/tax standpoint. But ask yourself …. if you are a corporation or a small business, would you expand right now? And I’m not talking about the Republican BS of “uncertainty” caused by the debt. I’m talking about the fact that consumers (70% of GDP) simply have no money to spend. If there was high consumer demand, these guys would be spending money for expansion like crazy. Instead, they’re doing stock buy-backs and banking the dough. Example? Cisco announced laying off 11,500 people today. Freakin’ CISCO!
http://twitter.com/BoomerJack Jack M. Boardman

All that money, yet they REFUSE to invest in USofA AND want tax cuts? US Corps have no shame!

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Guess who had more cash than the Treasury Dep’t. Hint: Rhymes with shmanks and shmorporations.

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