It's instructive to examine the behavior of the rich during the last two years of our Great Recession if you want to understand how cost is socialized and profit privatized by Republicans AND Democrats in times of manufactured crisis:I think exxon valdez paid like 27 billion dollars in federal taxes in 2008 and years before.
"EXXON-MOBIL: The oil giant uses offshore subsidiaries in the Caribbean to avoid paying taxes in the United States.
"Although Exxon-Mobil paid $15 billion in taxes in 2009, not a penny of those taxes went to the American Treasury.
"This was the same year that the company overtook Wal-Mart in the Fortune 500. Meanwhile the total compensation of Exxon-Mobils CEO the same year was over $29,000,000."
Excellent news. Thank you for that uplifting story. That is a lot of money the Obama/Pelosi/Reid junta won't get their greedy hands on...