We're sorely missing the servant leadership of America's CEOs on matters of corporate taxation.
As Congress contemplates trillions in budget cuts that will worsen poverty and undermine the quality of life in America, consider these findings from a new report that I co-authored, "Massive CEO Rewards for Tax Dodging," by the Institute for Policy Studies.
Last year, the compensation of 25 CEOs at major profitable U.S. companies was larger than the entire amount their company paid in U.S. corporate taxes.
These 25 include the CEOs of Verizon, Boeing, Honeywell, General Electric, International Paper, Prudential, eBay, Bank of New York Mellon, Ford, Motorola, Qwest Communications, Dow Chemical, and Stanley Black and Decker.
Earlier this summer I attended a church service where the pastor, a man struggling with what appears to be his final bout with cancer, preached about the hope that Jesus promises to those who trust in him. After describing the returning Jesus brandishing a sword and dripping with the blood of all our vanquished enemies, he invited the audience to share what they saw as the hope that this Jesus promises. The responses ranged from no cancer, to no pain, to no worries about paying the bills, to the promise of an upgraded body -- all of course in heaven someday after we die. The congregation was encouraged to find contentment in the present from the possibility of realizing these promises someday. Our souls are what matter; the body just has to endure until our souls reach heaven. No mention of help with how to pay this month's rent or what it means for a cancer-ridden body to be the temple of the Holy Spirit, just the spiritual promise that someday all will be well.
The debate we have just witnessed has shown Washington, D.C. not just to be broken, but corrupt. The American people are disgusted watching politicians play political chicken with the nation's economy and future. In such a bitter and unprincipled atmosphere, whoever has the political clout to enforce their self-interest and retain their privileges wins the battles. But there are two casualties in such political warfare: the common good and the most vulnerable.
So how will vulnerable people fair under this deal? "The Circle of Protection," a diverse nonpartisan movement of Christian leaders, has been deeply engaged in the budget debate to uphold the principle that low-income people should be protected. But it is hard to evaluate a deal that averts a crisis when the crisis wasn't necessary in the first place. Over the past few weeks, our economy has indeed been held hostage as politicians negotiated the price of the release. Ultimately, I think most of us wish that no hostages had been taken in the first place, and this was no way to run a government or make important budget decisions.