High Deficit: Who's To Blame?
A new government budget is brought in and the huge deficit gets centre stage: Wow! Something has to be done, say the politicians. Our credit rating could be at stake, here. Who's to blame? The worker. Every time. Or, as an article in mainstream media just pointed out, the “soon-to-be-pouting public sector unions” have to be stopped. After all, “half the government budget goes to public services”, the article so self-righteously says. But NEVER is mention made of corporate Canada’s $625 BILLION just sitting there amassing more wealth or being sent offshore to avoid paying taxes in Canada! But yet the deficit is “our” problem…we’ll all have to tighten our belts.
Workers never asked companies to leave Canada so the company could make bigger profits off shore; never asked the Government of Canada to bring in free trade agreements that give them this right; never asked government to take away decent paying jobs and replace them with jobs that pay minimum wage. Cashiers and retail sales workers in Canada now make up 11.3% of total employment. In order to earn even greater profits by cutting benefits, most corporations, including the wealthy banks, force their employees to work part time. Workers had nothing whatever to do with this sorry state of affairs. Why blame them?
CATERPILLAR SHIFTS BILLIONS
IN PROFITS TO SWITZERLAND
Caterpillar shifted BILLIONS in profits to Switzerland over a 10 year period. How did they get away with it? By paying PricewaterhouseCoopers $55 Million to make it all look legit. To Caterpillar, a giant company with revenues of $13,241 Billion, the well-being of workers means little. Neither does paying taxes. When it bought Electro-Motive Diesel in London a few years ago it quickly told its workers it would close up shop unless they accepted a 50% cut in wages. Workers were incredulous – especially those who had worked there for 20 to 30 years. But it closed and moved to Illinois. But the U.S. Subcommittee probing multinational corporations says the company was no less abusive there, moving $8 billion it earned in the United States to Switzerland after negotiating an effective tax rate of 4 percent with the Swiss government.
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