That a corporate plutocracy controls this country becomes more evident every day.

Here's the latest audacious blackmail by the corporatocracy which the Obama administration, for now, is rejecting. 

The corporations are trying to pull off another blatant fraud and screw regular taxpayers and this country again.

From Jonathan Tasini at Working Life:

"The raid on our country's treasury has been underway for 30 years(and more). The corporate leaders have successfully drained our commonwealth, shifting money away from the community and, instead, divertingit into the hands of a few. And now the din is growing for anotherrobbery of the people to the tune of tens of billions of dollars.

"It's called "repatriation" of profits. It goes something likethis: "we (meaning, big corporations) made a whole bunch of moneyoverseas and we've parked it over there because we didn't want to payour fair share of taxes. But, out of the goodness of our hearts, if yougive us a tax break, then, we will bring the money back to help all ourpoor citizens". Instead of paying the 35 percent corporate tax rate,these corporate evaders want to pay 5.25 percent--which is almost freemoney.

"It's a scam at so many levels.

"First, courtesy of Citizens for Tax Justice:

Many U.S.-based corporations currently engage in convoluted taxaccounting schemes in order to pretend that they make their profits intax-haven countries—thus avoiding U.S. taxes on those profits. Forexample, an American corporation might make sure that some asset, say alogo or a patent, is held by its foreign subsidiary in a country withlow or no corporation taxes. The American parent company then "pays" aninflated price to the foreign subsidiary for the use of that asset, andtells the IRS that this expense (the payment for the use of the logo orpatent or whatever) greatly reduced or wiped out its gross income,leaving it with no taxable income.

Meanwhile, the foreign subsidiary (which actually might only consistof a post office box) is the alleged recipient of all or most of theprofits. Thanks to the rule that lets corporations defer federal taxeson their foreign profits, the parent corporation generally gets todefer paying taxes indefinitely.

 "Second, cleverly, the corporate lobbyists pushing this idea offree money are trying to use the economic crisis to hold the Congressand the government hostage--an economic crisis caused by some of thevery financial firms begging for this taxpayer-sponsored gift. It willbe "good for the U.S. economy", they say, because corporations willhave a whole lot of cash to then invest in the economy.

 "But, they already are sitting on a pile of cash--and it isn'tgoing to create new jobs. In fact, we know already that corporationscut hundreds of thousands of jobs and have no intention of bringingback many of those jobs--they've decided to operate with fewer workers.

 "Moreover, there is nothing in the proposals that has any stringsattached to any money brought back: They could easily divert theadditional cash to shareholder dividends or--I know we would find thisshocking because it would never cross the minds of CEOs--to CEO pay andbenefits.

"Do not let them raid the Treasury again."