Skip to main content

Contrary to conventional wisdom, tax breaks and corporate welfare structures turn the ultra-rich into lazy moochers, and not motivated corporate citizens.

By monitoring the daily lives of CEOs heading America's largest tax dodgers, the Society for Motivated Americans (SMA) was able to conclude that extreme corporate welfare benefits make the super-rich lazy and complacent.

"Most of them spend an inordinate amount of time hobnobbing in lavish resorts and playing Candy Crush on corporate jets," said Jeff Zebo of SMA.

Zebo provided Bank of America CEO Brian Moynihan as a prime example. BOA is the nation's leading tax dodger, having paid zero taxes in 2010 – a $1.9 billion tax break – after receiving more than a trillion dollars in bailout money. "Has this made Moynihan motivated?" asked Zebo. "No – the man can barely pay attention on the job. And he sleeps all the time – employees sometimes stumble into his office and find him face down on the desk mumbling about things like milk shakes and Aruba."


Moynihan, unable to stay awake at the World Economic Forum.
Zebo cited Goldman Sachs CEO Lloyd Blankfein as another prime example. Goldman Sachs is the second-largest recipient of corporate welfare, paying zero in taxes in 2010 despite profits of $2.3 billion. "He sits around his mansion most days eating chips, drinking Belgian beer and taking conference calls in a bathrobe while secretly playing Call of Duty," said Zebo. "And when he's forced to leave his house, it's clear he just wants back on his couch."
Lloyd Blankfein, upset he's not on his couch.
According to the SMA study, such examples are rampant in the corporate community, blowing apart the long-held notion (among the super-rich and Republicans) that tax breaks make the one percent motivated to further produce.

This study comes on the heels of GOP claims that government assistance for the poor, particularly those who would starve or go bankrupt on their own without such help, make the destitute lazy. In fact, the opposite is the case, as pointed out by the CATO Institute. Those poor citizens who receive benefits are often themselves working multiple jobs or actively seeking employment they can't find, partially due to outsourcing of jobs from lazy, super-rich CEOs.

The solution to this epidemic of laziness now running rampant among American CEOs? "Take away their corporate welfare," says Zebo. "Unlike the poor, they don't need it. And they'd actually be more productive as a result."

A novel, and radical idea.


What Do You Buy For the Children
David Harris-Gershon is author of the memoir What Do You Buy the Children of the Terrorist Who Tried to Kill Your Wife?, just out from Oneworld Publications.

Originally posted to David Harris-Gershon (The Troubadour) on Tue Feb 11, 2014 at 05:44 AM PST.

Also republished by Writing by David Harris Gershon.

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

Meteor Blades, skybluewater, schemp, Thumb, Alumbrados, paradox, Sylv, TXdem, Chi, hannah, Trendar, mickT, dfarrah, emal, bosdcla14, Emerson, karlpk, Shockwave, Minnesota Deb, Wintermute, genethefiend, red moon dog, RFK Lives, Creosote, eyeswideopen, opinionated, tyler93023, concernedamerican, bronte17, TracieLynn, wonkydonkey, mbayrob, whenwego, CoolOnion, boadicea, roses, taonow, vmckimmey, sngmama, ctsteve, Iberian, splashy, sidnora, wader, Quege, psnyder, marko, TexDem, Farugia, roseeriter, yet another liberal, Chirons apprentice, papercut, lcrp, Brian82, dkmich, Major Kong, zerelda, mungley, randallt, Josiah Bartlett, decitect, Gowrie Gal, rapala, maybeeso in michigan, radarlady, Farlfoto, ichibon, gerard w, qofdisks, caul, unclejohn, Independent Musings, democracy inaction, irate, sc kitty, corvo, wallys son, Flint, kamarvt, run around, citizenx, YucatanMan, Kevskos, reflectionsv37, eru, bleeding blue, dansk47, SaraBeth, Sun Tzu, Kayakbiker, jane123, Sandino, kaliope, Shotput8, Rusty in PA, Jlukes, bunsk, Jim P, aurora in canada, WuChier, Patriot Daily News Clearinghouse, myboo, Kingsmeg, Themistoclea, cookseytalbott, AoT, sleipner, anastasia p, kck, blueoasis, MJ via Chicago, gpoutney, The Hindsight Times, Rosaura, NearlyNormal, MarciaJ720, Dinclusin, middleagedhousewife, onionjim, SingerInTheChoir, JWR, CA Nana, James Hepburn, zeke7237, blueoregon, kurious, Aaa T Tudeattack, cpresley, BentLiberal, krwheaton, tegrat, Tamar, One Pissed Off Liberal, Sapere aude, Cronesense, jessical, Habitat Vic, hawaii2, Loudoun County Dem, camlbacker, offgrid, threegoal, karmsy, Mary Mike, Busted Flat in Baton Rouge, Ticonderoga, daveygodigaditch, mommyof3, AppleP, newpioneer, artisan, letsgetreal, millwood, carpunder, Librarianmom, cececville, JML9999, eyesoars, Assaf, South Park Democrat, on the cusp, JDWolverton, MKinTN, Ezekiel in Exile, mconvente, Scioto, Vegas Dave, zerone, poligirl, Aureas2, Involuntary Exile, elwior, skohayes, Calamity Jean, Lujane, tofumagoo, Cassandra Waites, pickandshovel, bluesheep, triplepoint, Jeff Y, No Exit, wavpeac, codairem, Gentle Giant, Groucho Marxist, HoosierDeb, billybam, maggiejean, Bule Betawi, multilee, Glacial Erratic, lostinamerica, dharmasyd, bsmechanic, LeftOfYou, Sarge in Seattle, Norm in Chicago, dicentra, Tara the Antisocial Social Worker, mkor7, LibrErica, MKSinSA, TheOpinionGuy, papahaha, kevinpdx, Keith Pickering, DreamyAJ, Standard Deviant, Randtntx, citisven, LookingUp, Words In Action, ruscle, Just Bob, commonmass, parse this, awcomeon, FogCityJohn, flitedocnm, The Jester, SmartRat, piers, UTvoter, kjoftherock, Anima, dagnome, Eddie L, pixxer, Kristina40, ramara, melfunction, Betty Pinson, kenwards, Oh Mary Oh, catlady, slice, Onomastic, Maximilien Robespierre, Colorado is the Shiznit, cultjake, annominous, mama jo, Liberal Capitalist, slowbutsure, sostos, implicate order, Mr MadAsHell, La Gitane, HiKa, BillyElliott, FarWestGirl, Situational Lefty, deeproots, Teiresias70, CoExistNow, nezzclay, zukesgirl64, thomask, KVoimakas, RfrancisR, JWK, createpeace, wintergreen8694, JayFromPA, MinistryOfTruth, sound of progress, Joe Jackson, ratcityreprobate, SoCalSal, stlsophos, jadt65, DRo, AmazingBlaise, nyer11Oak, Auriandra, Laurel in CA, BlueDragon, livingthedream, jacey, chmood, OldDragon, TheLizardKing, IndieGuy, LefseBlue, David54, rustypatina, FloridaSNMOM, Horace Boothroyd III, This old man, jan4insight, Free Jazz at High Noon, reginahny, radical simplicity, BusyinCA, MartyM, GotchaSC, OllieGarkey, Rixar13, wxorknot, Glen The Plumber, George3, wasatch, mumtaznepal, Bisbonian, surreal times, peptabysmal, Australian2, live1, Lily O Lady, Blue Bell Bookworm, Chaddiwicker, StewartAcuff, countwebb, The grouch, GreenLightSmile, goodpractice, aresea, GwenM, Alhambra, Aunt Pat, ggfkate, JerryNA, howabout, helpImdrowning, Smoh, ET3117, PlinytheWelder, oslyn7, Kombema, danjb, cynnymynn, julesrules39, richardvjohnson, LeftieIndie, Dodgerdog1, supertascha, jbsoul, Fish Man, Zwenkau, Darwinian Detritus, gnothis, Pablo Bocanegra, reasonshouldrule, Darth Stateworker, cjtjc, ruthem, Ipracticedissent, JP Shannon, allie4fairness

Subscribe or Donate to support Daily Kos.

Click here for the mobile view of the site