Sunday, June 03, 2012

What Atrios missed:

Over at Eschatonblog, we read:
If the CEO of Honeywell really thinks that the economic problems are due to government debt and the failure of the confidence fairy to appear, he could do the patriotic thing and give back the 15% of his company's revenue that comes from the federal government.
Less corporate welfare for companies like Honeywell might help.
Honeywell used offshore subsidiaries and tax loopholes to pay a negative tax rate between 2008 and 2010, according to the report.

The company reported $5 billion in domestic profits and received $1.75 billion in federal tax subsidies, making its effective tax rate negative 0.7 percent the group reported, citing 2010 10-K reports for the company.
But in the first story linked to, there's this:
[David M. Cote, the CEO of Honeywell] whom Obama appointed to the National Commission on Fiscal Responsibility and Reform (a.k.a. the Bowles-Simpson Commission) in 2010, has long advocated an elixir of spending cuts, entitlement reforms and tax hikes to fix the problem.

He voted in favor of the commission’s draft plan, which included those elements.
The appointment was in 2010, by which time the corporate behavior of Honewell was evident. Nevertheless, Obama appointed this guy to the commission.


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