Skip to main content

Original Article HERE.

Fred Smith, the CEO of FedEx may have earned a few brownie points this week. It took him 44 seconds to dispel the misinformation that increasing the tax rates on the top two percent would kill jobs.

Smith said: “There is a lot of mythology in Washington such as its small businesses that creates all of the jobs in the United States and if you raise the rates on the top 2% you’ll kill jobs”

Listen to the entire snippet below.

Such a statement coming from inarguably a very competent and successful businessman that created an innovative company like FedEx is powerful. It gives weight to President Obama’s balanced approach for achieving budgetary fiscal responsibility.

Before elevating Mr. Smith to “fighter for the middle class”, it is important to delve further into his interview. Listening to it makes it evident he is willing to throw all individual taxpayers overboard to ensure that corporate tax rates are lowered.

Smith said: “If I were designing a tax policy for the United States it would be to lower corporate tax rates …. and then you do what you need to do in terms of personal tax rates across the board or at the upper end ..”

Here is the snippet.

One should note that as CEO of FedEx, Mr. Smith is opposed to his drivers and other employees sans pilots unionizing. He vehemently opposed the correct reclassification of his truck drivers to be properly governed under the National Labor Relations Act (NLRA) as opposed to the Railway Labor Act (RLA). In fact during the FAA Reauthorization Act debate, he opposed section 806 that would have made that appropriate change. More disconcerting is that he ran deceptive commercials, op-eds, and threatened to cancel aircraft orders in opposition to the bill.

While Mr. Smith’s display of intellectual honesty with regards to the effects of upper income tax rates is important and to be commended, his actions indicate he is foremost a laissez faire capitalist. These types of CEOs are generally effective in giving the impression of being on the side of the working middle class, even as they are deceptive in their support for policies disadvantageous to the middle class.

LIKE My Facebook Page

Your Email has been sent.
You must add at least one tag to this diary before publishing it.

Add keywords that describe this diary. Separate multiple keywords with commas.
Tagging tips - Search For Tags - Browse For Tags


More Tagging tips:

A tag is a way to search for this diary. If someone is searching for "Barack Obama," is this a diary they'd be trying to find?

Use a person's full name, without any title. Senator Obama may become President Obama, and Michelle Obama might run for office.

If your diary covers an election or elected official, use election tags, which are generally the state abbreviation followed by the office. CA-01 is the first district House seat. CA-Sen covers both senate races. NY-GOV covers the New York governor's race.

Tags do not compound: that is, "education reform" is a completely different tag from "education". A tag like "reform" alone is probably not meaningful.

Consider if one or more of these tags fits your diary: Civil Rights, Community, Congress, Culture, Economy, Education, Elections, Energy, Environment, Health Care, International, Labor, Law, Media, Meta, National Security, Science, Transportation, or White House. If your diary is specific to a state, consider adding the state (California, Texas, etc). Keep in mind, though, that there are many wonderful and important diaries that don't fit in any of these tags. Don't worry if yours doesn't.

You can add a private note to this diary when hotlisting it:
Are you sure you want to remove this diary from your hotlist?
Are you sure you want to remove your recommendation? You can only recommend a diary once, so you will not be able to re-recommend it afterwards.
Rescue this diary, and add a note:
Are you sure you want to remove this diary from Rescue?
Choose where to republish this diary. The diary will be added to the queue for that group. Publish it from the queue to make it appear.

You must be a member of a group to use this feature.

Add a quick update to your diary without changing the diary itself:
Are you sure you want to remove this diary?
(The diary will be removed from the site and returned to your drafts for further editing.)
(The diary will be removed.)
Are you sure you want to save these changes to the published diary?

Comment Preferences

Subscribe or Donate to support Daily Kos.

Click here for the mobile view of the site