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CEOs To Pressure Congress On Fiscal Cliff

October 26, 2012 by  

CEOs To Pressure Congress On Fiscal Cliff

A group of leading American CEOs has joined together in initiating a campaign to encourage Washington lawmakers to come to an agreement about what should be done to avoid the impending fiscal cliff.

According to The Hill, chief executives from dozens of the Nation’s biggest corporations have joined to coax an agreement to break the fiscal stalemate that has kept the 112th Congress from making progress with regard to the ever-expanding National debt.

“What we’re trying to do is drive support for the radical middle, the 70 percent of us … that really want to do the right thing down the middle and recognize that the only way you can govern is through compromise,” said David Cote, chairman and CEO of Honeywell.

The executives say they want a deal from Congress that would reform entitlement spending programs to cut the deficit and overhaul the tax code to create more revenue. This would strike balance between Democratic and Republican plans that Congress continues to argue over.

With $40 million in private donations for its cause, the group plans to embark on an aggressive advertising campaign after the elections to pressure Congress. Chief executives joining the cause include the heads of Aetna, Microsoft, JPMorgan Chase, General Electric and Boeing.

The CEOs were organized by the nonpartisan group Fix the Debt.

Sam Rolley

Staff writer Sam Rolley began a career in journalism working for a small town newspaper while seeking a B.A. in English. After learning about many of the biases present in most modern newsrooms, Rolley became determined to find a position in journalism that would allow him to combat the unsavory image that the news industry has gained. He is dedicated to seeking the truth and exposing the lies disseminated by the mainstream media at the behest of their corporate masters, special interest groups and information gatekeepers.

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  • GALT

    can’t or won’t provide jobs……export the remaining jobs…… mail government for tax breaks, tax theft and subsidies……and now seek to cut entitlements because of a debt and deficit that they are responsible for……..

    and have 40 million to lobby for it……….

    there is a solution to YOU…..and as soon as the victims stop blaming other victims and recognize YOU as the problem…….You will no longer have problems or be a problem
    for anyone, ever again…….until then….enjoy it while you can.

    • eddie47d

      This could be a Corporate trick to bring voters and consumers back into their fold. ( I vote against Corporate excesses and their despicable practices) Are they trying to make themselves look like the good guy or are they sincerely trying to do the right thing. Its about time and at least on the surface I appreciate those efforts. Yet will they “reform their own entitlement programs”. Will those CEOs take a pay cut? Will they stop demanding golden parachutes? Will they stop demanding those stock options where a company has to pay out whether that company is doing well or not? Will they hire more workers like they promised or will they increase their pensions by taking away from the employees)? It would be nice if these CEOs would be truly Patriotic and put country first instead themselves. That would be an unique event.

      • Gary L

        Do you think that the CEO’s rate of pay is what is stopping them from hiring employees? If there is more money just laying around they are just gonna hire someone to give that money to? If there is more work than the workforce can handle they will hire more workers. No one…no business man in his right mind would hire people jsut fopr the sake of having more employees. I understand the golden parachute thing. I do. But are we free or not. Why do we need someone to tell us how much is too much. Once we let government start dictating these things to us, you can kiss it all goodbye.

      • GALT

        the key phrase is “reform entitlement spending programs” as THE SOLUTION…..
        which is NOT the problem…… I see no cause for hope…… fact there is little intelligence involved on either side in Washington…….and whatever the corps have in
        mind……there is nothing GOOD to be expected…….except more “time”……..which will if nothing else make “the end is nigher” crowd”……..look increasingly foolish…….as the impending COLLAPSE…..continues NOT TO HAPPEN……

      • millie

        eddie you are a bum

      • eddie47d

        MILLIE: You are a troll for Wall Street excuses. Thanks for the economic collaspe sweetie!

      • GALT

        For Gary:

        But are we free or not.????

        Yes, no, and maybe……..

        You are completely free to think or believe anything you like, you are even free
        to act on these things if you so choose……actions have consequences……and if
        these consequences cause harm, you may be held responsible…….

        Why do we need someone to tell us how much is too much. ????

        Ask the Sumerians, Babylonians, Assyrian’s, Persians, Romans, Mayans, the Vikings of Greenland or the inhabitants of Easter Island…….Ask Jimmy Hendrix, Mickey Mantle, Michael Jackson or John Candy? Ask Bernie Madoff, John Corzine, Jack Welch, Jamie
        Dimon or Lloyd Blankfein?

        Once we let government start dictating these things to us, you can kiss it all goodbye.
        Theoretically you do not live in a dictatorship, but a system of government which
        claims to be “of,by and for the people.” whose philosophical foundation rests on
        the principle that “governments derive their just powers from the consent of the governed” and are “instituted among men” to secure their rights to include those of “life, liberty and the pursuit of happiness.”

        This was a radically new idea, being essentially a bottom up, rather than a top down approach to the “legitimacy, authority and purpose of the powers of government” and
        in the original construction the mistrust of government reflected this, by requiring
        unanimous consent of the previous colonies ( now states ) for any and all federal
        action…….keeping potentials enemies closer to home, so as to make any attempt at mischief more difficult to conceal.

        Unfortunately, this approach completely castrated the Federal government’s ability to
        conduct any foreign policy or to meet the conditions imposed upon this new nation
        by the Treaty of Paris…… desperate measures were required to correct this…in secretin 1787……which produced the document that was an attempt at “a more
        perfect union” and which transferred much of what was already contained in the Confederation, to this “new republic”……..with the necessary additions to remedy the problem, as well as other things to alleviate and/or protect parochial concerns and interests.

        It was a haphazard, frustrating and messy affair, whose actual events and proceedings
        being held in secret are available to the public only in the white washed notes of a single observer and participant, and the end result was to the liking of no one, which required ratification by and all or nothing vote, up or down……..

        For better or worse, you now had a central federal authority, and the rest is history…..

        If nothing else, what should be clear here is… your questions and the idea’s contained in these documents………….words, no matter how noble sounding, are
        insufficient to produce the claimed intended results……if they are not understood……..
        or reflected in the actions purportedly taken to achieve those results.

        Without any agreement of such an understanding, the words become meaningless
        rhetoric whose power rests on the self evident illusion that “everyone knows what they
        mean” when the fact is that “no one knows what they mean now or meant then.”

        This condition is not limited to these words, but many words which are in common
        usage……… much so that……..what was understood to be the only means to
        secure those things implied by the words you use in your questions but do not
        understand…… now believed to be both the cause of that loss, and it’s dissolution
        the means by which this condition can reach resolution.

        “The Master said….If names are not correct, language is not in accordance with the truth of things. If language is not in accordance with the truth of things, affairs cannot be carried on to success……..Therefor a superior man considers it necessary that the names he uses may be spoken appropriately. What the superior man requires, is just that in his words, there may be nothing incorrect.”

        Confucious 551 -479 B.C.

      • nickkin

        How patriotic are you Eddie? What are you willing to give up….maybe your freedom or what extra you have in your pocket book ?

    • Gary L

      Do you really believe that entitlements are NOT part of the problem. There are too many entitlements that are too easy to get. After all, why should people want to go to work if they can get STUFF on other peoples dollar.

      • GALT

        Not really……at least in the sense of the “entitlements” they are considering……
        social security, medicare and medicaid……these are easy fixes……

        If you are referring to welfare, food stamps or unemployment, these are not really
        a problem……and while you might believe this is a cushy life…..I doubt you will find
        those actually dependent on them……who would agree with you……

        If you have something other than these when you use the word “entitlements”…..
        that might prove quite interesting…… you?

      • vicki

        GALT writes:
        “GALT says:
        “Not really……at least in the sense of the “entitlements” they are considering……
        social security, medicare and medicaid……these are easy fixes……”

        Since social security is a forced at gunpoint savings plan I do not see why you consider it to be an “entitlement”. I don’t remember how the other 2 fit with that but if we had our hard earned money taken (at government gunpoint) in FICA then they are most certainly not entitlements.

        Of course the government could just call them taxes (like ObamaTax) and then future generations would know up front that there is no “security” in social security.

        Then again the name warned us from the beginning that they would run out of other peoples money.

      • GALT

        Actually they do call them taxes……..just not openly,,,,but if you check the “statute”, it is clearly identified as what it is……a tax on wages……..and there is no legal guarantee of any benefits of any kind…….so they can do what they want…….

        Initially, retirement was set slightly beyond life expectancy, so they didn’t expect payouts
        to be a problem………

        The main purpose or effect of the initiation of the program was to initiate “with holding” at the source……extended to the temporary tax on “income” for the war……..which aligned itself nicely with the shift to admiralty/maritime law in 1938…….which had this not been done would have constituted double taxation on wages, which in common law and equity
        would have been clearly unconstitutional but also because the supreme court had already
        defined income as “profit or gain” and under this definition wages did not qualify…..the shift negated all previous court decisions in law and equity, thereby allowing the courts to
        ignore any citation of them as precedent in motions or appeals because they did not apply
        in admiralty/maritime or “statutory” jurisdiction, as it was referred to….and provided sufficient disguise to mask what had taken place…….they then proceeded to lay a further
        level of obfuscation by adopting the Uniform Commercial Code both federally and over time in all the states, completing the transition in the late fifties……whereby no further pretense was needed……….and any reliance on what the Constitution might have meant
        or intended was purely illusion….discarded completely where conflict could not be avoided….as with reference to “lawful money” and other things……..and altered in more subtle ways to maintain the illusion……where the differences were procedural in the legal arena…….which would escape the notice of the general population as they has limited
        exposure to these things on a regular basis…….and limited experience to judge them, even if they were aware………

        From a strictly moral perspective, these programs were paid for……so they should not be altered in terms of benefit adjustment except as a last resort……..and by last I mean after every other government expenditure has been considered…… every other program
        or function.

        There are administrative reforms directed at fraud and abuse which can be applied,
        but the chief area of reform which needs to be addressed regarding cost reductions
        must take place in the actual delivery system…….the health care industry……..which does not provide actual health care despite its claims…….and is also extremely inefficient and expensive in what it does deliver…… it need to be gutted and rebuilt….

        But this has been and will be effectively resisted from those profiting from the current structure while victims of it continue to believe that access is the critical component rather than recognizing that effective outcomes through proper treatment and preventative care
        are far more important……. than temporary relief of the symptoms of a degenerative condition where the treatment itself may be a contributory factor…….

    • nickkin

      Where do you do your shopping…Galt ? Just living off the land?

      • GALT

        Which color socks did you wear on your first day in school?

  • Warrior

    And this is what our country has “evolved” into? A mass of taxers, spenders and thiefs. Just like gubmint “make work” programs, this entire situation is just a sinful waste of human resource.

  • ableton

    It is simple really. Everybody Pays! PYFS! Pay your ___Share! I did not benefit from the big bail-outs and neither did the other 99 percent. The loans are being called and either pay up or make a huge write-off! The Chinese are going to have to wait and the investors who were unfortunate to buy into toxic loans are gonna have to absorb it.
    Stop the presses return to a gold backed economy and never look back. It is hard to feel pity for the very folks who perpetrated this problem in the very beginning.

    • GALT

      if you look back to a gold economy, you get 1929 and what followed.

      There is no way to avoid problems in economical structures at the moment because no
      valid standard for the measurement of actual value exists………so it makes little difference which form is chosen given what is available…….and neither credit nor money can be argued for successfully……..current economics theory is flawed at its foundation, and both credit and/or physical money compounds this weakness…….the only difference is the precise nature of the actual failure, not whether it will fail, that is unavoidable…..

  • Paul Wells

    Yep, that’s big government for you. As Thomas Jefferson is quoted as having said, “A government big enough to give you all you want, is big enough to take all you have”. Unfortunately, many non-productives in our society have a big problem with the concept of pulling their own weight.

    • don

      paul its called a nanny or welfare state an we are there. but WE have been brought here how else can a people be controled so easy. just. threaton to take away something if they don’t go along with who is in control we are our own worst eneaminy.

  • Hopeful in Atlanta

    Finally SANITY bubbles to the top of this cauldron of political insanity!!!!!
    This gives me hope!!!!!

  • http://Yahoo RedP

    The CEO’s you speak of especially Jamie Dimon whom I have worked for could give a damn about the “people” their corporations, as they do get BIG TAX BREAKES; LEND FOR FREE FROM THE FED (JP & Goldman). These guys and their families will never need to live off of a 401K; IRA; SS or Medicare. So please let’s “call a spade a spade”. These CEO’s like their President and the Congress are the George Clooney’s and SJP of the business and political world!

    I encourage ALL WORKING AMERICANS TO QUIT! Let them move all the jobs for which Americans work long hours for little return offshore (which Mr. Dimon has tolds JPM staff to move 90% of all US jobs to Manila and Mumbia) When that happens then all of the UNION -guaranteed pay and disability) workers will have to pick up the tab, and the US will finally TAX these corps, not pay them as they do for offshoring. Didn’t Mr. O PROMISE TO STOP OFFSHORING -YEA! Offshoring puts big Corporations bucks in his pockect and that of every Senator and Congress person. Wake up America.

    • vicki

      Since corporations do not now nor never have paid taxes you can hardly give them a “tax-break”.

      Taxes charged to a corporation are passed on directly to the end customer. Any tax “break” you give is to the end customer.

  • Kevin Wickham

    Omg don’t you people see that both sides of this are collectivist? One side thinks governtment can do no wrong, the other thinks corporations do no wrong. Both are collectivist ideologies!

  • cerebus23

    The estimates to save social security and medicare were in the neighborhood of 4 trillion dollars and this was a few years back,

    How are we going to talk about reformng and getting the debt under control without putting everything on the table and doing it now.

    So yes we have to reform entitlement programs or they will be gone there is no easy fix to be found, some magic wand, no amount of printing worthless currency that will fix that those programs are horribly and unfixably broken.

  • http://google redbull

    Vicki, corporations sure do get “tax breaks” it is called write offs anddepreciation! Same as wage earners tax breaks for house payments interest, child care,and cost of getting your taxes done. This something even on Onumnutts; taxes show he takes, only thing missing is all the free flting, golf, and campaigning this maddrass educated marxist in the WH doesn’y haven’t to be taxed for that common people would get taxed for. Of course this right out of Karl Marx book and his beleifs. All socialist/communist democrats have pushed for government ownership of all private owned businesses, another page out og Lien and Marx’s veiws of how to destroy a country. When the socialist democrats claim job growth it isn’t in the real business world but in government agencies, staffed with lazy, book trained, degreed theorizing idoits.

  • http://google redbull

    Donn;t like corporations, start a business no matter how small and see hpw many agencies that require permits all with day lag time for answers, and you can noy send all permits in at one time, but it must be chased tgrough one at a time. So if you are going to start any type of business, you will wait usually 16 to 24 months to proceed, at lot of money wasted. All of these BS agencies were favored by get along rinos and all the socialist democrats. Since the sorry puke we have in the WH has gotten elected he has sent out overe 300 more impediments from agencies, even if you by a raw peice of farm and ranch land, you must have approval from 7 fed agencies. Omoron said when he got elected, he wanted to have government own all land, another UN mandate, which Clintons and Obama and all socialist democrats want and agree with anything the UN wants.

  • Carl Manning – Sic Semper Tyrannis

    Most ignorant Americans would be shocked to find that now 41% of our GDP is attributed to the spending habits of federal, State, and City governments. If that isn’t Socialism, I don’t know what is. America is in many ways more socialist now than Canada, which doesn’t have a magical funny money tree like the Federal Reserve.

    “…#32 When you combine all federal government spending, all state government spending and all local government spending, it comes to approximately 41 percent of U.S. GDP. But don’t worry, all of our politicians insist that this is not socialism…”

    • Carl Manning – Sic Semper Tyrannis

      Just think of how much of this goes to support the Warfare and Welfare State! This government is so up to its evil eyeballs in insanely un-Constitutional warfare that if we were to drastically lower our military and make it a defense force, most of our military would be unemployed because this evil government values warfare over workfare for its citizens. This is beyond the lunatic fringe, and it is hideously, reprehensibly vile and evil.


    Its obvious the CEO’s ae concerned about the egotistical politicians going done to the wire again and this affects the all businesses in USA in many ways …the share prices may plummet and reduce borrowing opportunities, or stop lending altogether for a few months till the politicians decide to mediate and extend the cliff life. The CEO’s dont believe the Republicans will extend the deadline amount if they lose and can see a GREECE SYNDROME being created in the USA. so they want to try bribe the politicians to be more considerate of the continuing repercussions of their stubborn mindset.

  • Kevin Wickham

    once you figure out corporations and government are one and the same you see the light

  • win 7

    thanks for win 7 home.


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