16 April, 2009

Willing Dupes

So the Teabaggers came out in force for their corporate overlords yesterday. A lot of sad, pathetic rubes protested they weren't quite sure what. Most of them were there because Faux News told them Obama's a fascist selling America into socialism, and they don't have enough self-awareness to see they're being used by corporate interests to maintain the status quo.

And what a status quo it is:
And here's another little something that should inform your teabagging friends that the tax on teabags is actually not the problem:

Even as the U.S. economy went into a tailspin, the median salary for CEOs of 200 large corporations increased by 4.5 percent to $1.08 million. On top of that, these corporations keep plying executives with generous freebies, despite the public outcry over private jets and other executive perks.

The 2009 AFL-CIO Executive PayWatch site, which launches today, points out that the perks for executives rose on average by 12.5 percent in 2008 to $336,248—or nine times the median salary of a full-time worker. Even more appalling is the practice of rewarding executives who drive their companies into the ground.


Here are other prime examples in the case studies of corporate failure:

  • While retirees worry over the fate of Deere & Co.’s pension surplus, which is shrinking because of stock market losses, the value of Deere CEO Robert Lane’s retirement income increased $5.5 million in fiscal 2008 to $22.5 million. Lane and other senior executives participate in not one but three different pension plans.
  • SunTrust Bank, which received $4.9 billion from the federal bailout fund, wants shareholders to approve a mega-grant of $7.7 million in stock options for James Wells, its chairman and chief executive officer, even as investors have lost billions.

Their arrogance knows no bounds:

In 2008, despite the worst economic meltdown in over 75 years, U.S. chief executives continued to take home over 300 times more pay than their workers. That’s a gap ten times wider than the gap between top execs and workers that existed just a generation ago.

Corporate boards of directors seem determined to keep this massive gap intact. Most corporations are refusing to make even symbolic gestures toward more common-sense executive compensation.

And they're using the poor ignorant teabaggers as cover. This "spontaneous" uprising has been anything but spontaneous. Their grassroots are pure plastic. I have to agree with the Rude One here:

Ah, fuck this. Fuck the puns and the mocking. It's just too fucking depressing. Somewhere, Karl Marx is laughing his bearded ass off. Because what is this but classic exploitation of the proletariat by the bourgeoisie? It's a bunch of rich fucks, beginning with that tool Rick Santelli on CNBC and ending with the slavering profitmongers at Fox "news," making the poor idiots, who are desperate from fear of or actual job loss and heath insurance loss and home loss, do their bidding. Look at the people attending. Bedraggled Joe the Plumber and Sarah Palin wannabes, clinging to the image of those who create the illusion of the working class without the work or the class. Ignorance is such bliss, man.

This movement's gonna die a horribly gruesome death. It really is just the last hideous gasps of a kind of right wing populism that's got nothing to do with actual populism and everything to do with a desperate scrabbling to preserve the status quo for the wealthy. It's ideological endgame, motherfuckers, and the checkmate ain't gonna be pretty.

Sad, pathetic people holding teabags for the rich. I'd feel sorry for them if they weren't such willing dupes.

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