MasterCard, Inc. forces Americans into high credit card debt by making it convenient to open and use a charge account. Worse, MasterCard invites unflattering parallels between irresponsible citizens and the federal government. Looks like we’ve found another corporation to participate in Sherrod Brown’s tax-hikin’ solution to America’s $1.62 trillion 2011 budget deficit!
Now Soaking: MasterCard, Inc.
- Reuters lists MasterCard CEO Ajaypal Banga’s compensation as $11,855,800. Banga has only been a MasterCard executive for a few years… but he was a Citi exec for more than a decade before that, so he’s got enough money. Banga’s $11,855,800 will be much better spent by Sherrod Brown and Barack Obama!
- MasterCard’s 2010 income statement lists $910,000,000 in corporate income taxes. MasterCard’s net income was more than twice that amount, so clearly they paid too little income tax! Let’s take another $910,000,000, lest spending cuts damage Sherrod Brown and Barack Obama’s rip-roaring economic recovery.
- All said and done, doubling MasterCard’s corporate income taxes and taking their CEO’s pay will reduce the 2011 U.S. budget deficit from $1,620,000,000,000 to $1,619,078,144,200.
Fear not: a massive spike in MasterCard’s taxes won’t make life more expensive or less convenient for responsible cardholders. Although a “free market” is nothing more than evil fat-cats cheating helpless saps out of money, Sheriff Sherrod’s patrolling these parts! Supply, demand, risk, cost, and reward are shadows from the dark old days.
None of MasterCard’s 5,600 employees will lose their jobs if Sherrod Brown and Barack Obama work their not-at-all-socialist magic. Last and least, the only funds & individuals holding any of MasterCard’s 121,000,000 outstanding shares of stock who suffer will be the ones who deserve to.
We, The People who support Sherrod Brown’s fiscal policies, hold these leftist conceits to be self-evident.