I received the following email from a friend. I really can’t add anything to it:
I just read the most ungodly economically ignorant article I have ever read. . . . It even beats out the $15 an hour minimum wage arguments, which at least are based on rational fantasy. [Bookworm here: Or maybe not so rational.]
Let me set this up: Bernie goes to Brooklyn, where he rails against all of the evil businesses he means to destroy, starting with Verizon. Bernie claims that Verizon has paid nothing in taxes, and that it is time for Verizon to pay its “fair share.” (I am starting to become violent every time I hear the word “fair” at this point.)
Sayeth the Bern, “[Verizon] is just another major American corporation trying to destroy the lives of working Americans.”
Verizon’s CEO responds calling Bernie an economic idiot in none too veiled language: “The senator’s uninformed views are, in a word, contemptible.”
After laying out all the facts, including the pivotal fact that, while an NY subsidiary lost money and paid no taxes, the parent company paid over $15.6 billion in taxes in just the past two years, the CEO states, “Nostalgia for the rotary phone era won’t save American jobs, any more than ignoring the global forces reshaping the auto industry saved the Detroit auto makers.”
Wonderful stuff. The CEO’s letter is worth a full read.