'Ralph Nader’s Solution to Debt Crisis: End Corporate Welfare and Corporate Tax Loopholes'

from democracynow......

"As negotiations continue on a debt deal, we ask longtime consumer advocate Ralph Nader for his solution. Nader says, “Now we have the situation with the deficit and the debt and spending and jobs. And it’s not that difficult to get out of it. The first thing you do is you get rid of corporate welfare. That’s hundreds of billions of dollars a year. The second is you tax corporations so that they don’t get away with no taxation. The Citizens for Tax Justice put out a report recently. They had 12 major corporations, like Honeywell, Verizon, General Electric, and in three years, they made $167 billion in profit, paid zero tax, and got $2.5 billion back from the Treasury”..............READ MORE 


here is more from ralph.........


"Cutting the huge amount of redundancy and waste and out-of-date weapons programs in the Pentagon, again, another one. Bringing back the soldiers from Europe and East Asia, 65 years after World War II. What are they doing? Defending prosperous countries, like England and Germany and Italy and Japan, against what? Inner Mongolia or Moldova?"


on the debt ceiling raise............'It will be lifted, because Wall Street has written a letter, with many corporate executives signing on and the Business Roundtable, and they’re basically telling the Republicans, "On this one, you’ve got to grow up." These Republican delinquents are rattling a catastrophic cage of international confidence in the dollar and U.S. credit. And, of course, Moody’s and Standard & Poor are rattling, it might downgrade the U.S. debt. Imagine, these crooked rating companies, who helped fake the valuations on Wall Street and bring down the economy, are now evaluating the U.S. government’s credit. But be that as it may, it’s almost 100 percent certain that very soon, whether in two, three, four days, they will agree, both Republican and Democrats, to raise the debt limit, probably without any conditions. I think the McConnell plan, however unconstitutional it is, shifting the decision entirely to the executive branch, when last I heard that that was a constitutional authority of the Congress, I think that’s probably going to be the fallback position".