This website uses cookies to ensure you have the best experience. Learn more

Aid To Dependent Corporations (Univ. Of Phoenix Soc 101)

1068 words - 5 pages

Aid to Dependent Corporations It seems people are quick to criticize the welfare system in the United States. However, there is another form of welfare that few are aware exists. This type of corporate welfare, termed "wealthfare," by Chuck Collins, the author of "Aid to Dependent Corporations," benefits corporations and the wealthy. Mr. Collins mentioned some very interesting facts with which I totally agree. His article helped me to understand how the rich continue to get richer, all at the cost of the United States taxpayer. Chuck Collins brings out many instances of corporate wealthfare in his article. For example, since 1987, American Barrick Resources Corporation has been ...view middle of the document...

They may also be less apt to make such radical changes to the welfare programs. Most people would take a closer look at the policies, or laws, that contribute to the corporations' ability to manipulate these laws to their favor and take advantage of the government. It seems to many people that welfare is putting a drain on the government budget. On the other hand, if corporations were paying as much in taxes today as they did in the 1950's, it would amount to $250 billion a year--more than the entire budget deficit (15). The true drains on the government budget are the corporations who get away with avoiding taxes. It appears to me that the problem is not welfare, but wealthfare. Chuck Collins provides additional cases of corporate wealthfare. One example is the foreign tax credit, "which allows U.S.-based multinational corporations to deduct from their U.S. taxes the income taxes they pay to other nations" (15). A perfect argument of the foreign tax credit is the oil companies that purchased oil from Saudi Arabia. Saudi Arabia had no income tax, which was good for the American companies; but the Saudi Arabians charged royalties. Because the royalties were not income taxes, they were not tax deductible. When King Saud decided to raise the royalties, the oil companies convinced him to substitute a corporate income tax instead. Other oil-producing countries followed suit, which, in the end, was a huge cost to the U. S. Treasury. I cannot help but think the large corporations are manipulating the government and creating changes to fit their needs.A second example is the wages of corporate executives. The average top executive today is paid at a ratio of 140 to one, compared to twenty years ago when a top executive made 34 times the wages of the lowest paid employees. "In 1993 the Clinton administration capped the deductibility of salaries at $1 million, but the law has several loopholes that allow for easy evasion" (16). It is insane to think that any one individual would be worthy of such a huge...

Other Essays On Aid To Dependent Corporations (Univ. Of Phoenix - SOC 101)

Products, Services And Prices In The Free Market

1210 words - 5 pages " can be used to predict how the demand for the product would change with regard to a change in income of the customers. Finally, a presentation of the results of our research in the MarketLine Business Information Center database at the University of Phoenix Library will be provided.Price Elasticity of DemandPrice changes affect the way consumers live on a daily basis. Adjusting a budget to stay within our means is pivotal as prices of elastic and

Response Essay

3498 words - 14 pages . Visscher © 1 Dept. Entomology, Univ. Calif. Riverside, CA 92521 2 Extension Specialist, Wash. St. Univ., Puyallup, WA 98371 PLS 116 Page 2 A general warning Most non-arachnologists try to use coloration as a diagnostic identifying feature. This is one of the least reliable characteristics for identification of hobo spiders because of the great variation amongst specimens within a species and because similar species sometimes overlap in

MBA560 UOP Week 3. Business Regulation

2809 words - 12 pages violation. (University of Phoenix, Week Three, rEsource. Enterprise Risk Web site)Values and Stakeholders:Alumina's main goal in this situation is to manage the crisis. The company's main objective is to prevent extensive losses, environmental and commercial, preserve Alumina's public image and abide by the pertinent environmental statutes.Large corporations affect the interests of many different groups in society, which are called "stakeholders

Cheyenne Indians

598 words - 3 pages Cheyenne Indians, an important Plains tribe, speaking a language belonging to the Algonkian family. Their name is derived from the Sioux Indian word that means "people of alien speech."In 1804 the explorers Lewis and Clark met the Cheyenne tribe near the Black Hills of South Dakota, but there is evidence that before 1700 the Cheyenne had lived a more settled existence in Minnesota. By the mid-1800's the Cheyenne had become fully adapted to a

The Fiat Money System

1762 words - 8 pages of currency, first by inflation, then by deflation, the banks and corporations that will grow up around them will deprive the people of all property until their children will wake up homeless on the continent their fathers conquered. I hope we shall crush in its birth the aristocracy of the moneyed corporations which already dare to challenge our Government to a trial of strength and bid defiance to the laws of our country" [2]With the adoption

Case: Hilton Manufacturing Company

432 words - 2 pages 2005, its unit sales would be approximately 750,000 cwt. Additionally, he felt that if the price was dropped to $8.64 per cwt., the sales volume would increase to 1,000,000 cwt. If all other expenses were billed at the same rate with the exception of a 5 percent increase in materials and supplies and a 7 percent increase in light and heat, greater profits should have been realized for product 101 at a price of $8.64 than the company would have seen

Social Groups and Institutions

543 words - 3 pages held to a high point in life, so the student shall succeed. Look at our parochial and private schools and their achievement. I believe the teachers at these schools push the student along to achieve a better standard in life than what they expect regardless of race and ethnicity.References Cited:· Macionis, John S., Sociology (2005), 10th Edition from Pearson Prentice Hall published in Upper Saddle River, NJ.· Grace Kao, Ph.D, People at the University of Pennsylvania (2002) retrieved from www.ssc.upenn.edu/soc/People/kaograce,html

Strategic Management

595 words - 3 pages strategic management incorporates all levels of the corporation. Managers from various corporations stated that the strategic management process is best implemented when everyone in the organization understands the strategy.The company's strategic management plan that I chose to evaluate is Wal-Mart. Their strategic initiative plan consists of the following: The three initiatives are; Save Money, Live Better; Win, Play, Show; and Fast, Friendly

540 WK 4 Non-Employment-Conflict-Management-Worksheet Indiv

1293 words - 6 pages Non-Employment Conflict Manage Worksheet Indiv WK 4 CHConceptApplication of Concept in ScenarioCitation of Concept in ReadingPersonal Experience in your OrganizationInterferenceSebastian Byrd is the President of the Nature's gift Society. He was born and raised in New Oxford and had often explored the Wetlands. He has long been an advocate of preserving nature. Concerned about the building of any facility close to the wetlands, because he

Strategic Management In Nucor

7576 words - 31 pages marketplace and revolutionised business operations. Corporations can function as a single entity with linked information networks and reach a wider audience with the Internet. Technology can pose as a double-edged sword though as they may lower barriers to entry yet unique technologies attained through self-amelioration and acquisition of patents/rights heighten barriers.Political/Legal ForcesIn most parts of the world, especially in modernised countries

The Importance of MNC'S to the World: Good or Bad Influence

414 words - 2 pages Multinational corporations are companies with their home base in one country and operations in many other nations. Most of these, very immense firms, establish in third world countries or developing countries where they manufacture the same identical product for very low costs compared to the ones in developed countries.One of the purposes of MNC's is to create an economic development which is described as sustained growth in income per capita

Similar Papers

Aid To Dependent Corporations Essay

532 words - 3 pages I would like to start off by saying that I very much enjoyed Chuck Collins article on Aid to Dependent Corporations, Exposing Federal Handouts to the Wealthy. It was written on a topic that really captured my attention. The article itself was short and to the point, with plenty of supporting facts which made for easy reading and comprehension for me. The use of so many matters of fact dollar figures is probably the greatest attraction of this

Global Warming Controversy Essay

1230 words - 5 pages dependent on the good will of the participants in producing a balanced assessment. However, in Shanghai, it appeared that there were attempts to blunt, and perhaps obfuscate, the messages in the report, most notably by Saudi Arabia. This led to very protracted debates over wording on even bland and what should be uncontroversial text... The most contentious paragraph in the IPCC (2001) SPM was the concluding one on attribution. After much debate

Poverty In The Us Essay

476 words - 2 pages Poverty is one of America's most persistent and serious problems. The United States produces more per capita than any other industrialized country, and in recent years has devoted more than $500 billion per year, or about 12 percent of its gross national product, to public assistance and social insurance programs like Social Security, Medicare, Aid to Families with Dependent Children, food stamps, and Medicaid. Despite our wealth and these

"When Corporations Rule The World" By David Korten

2282 words - 10 pages dependent on each other many of these important traditions that united a community are being lost and forgotten. The corporations are looking to just make a profit.There are many other problems that are being caused by multinational corporations that are being over looked because they can not be measured by monetary means. These are the effects that the individual and society are noticing more and are trying to have to deal with. The first of these is