Read time: 1 minute

Spouse Of Former G.E. CEO: Corporations Move Jobs Overseas To Take Care Of 'Widows And Orphans' Shareholders

Who will look out for the poor widows and orphans people?

Who will look out for the poor widows and orphans people? No, this is not a parody. This is from an actual segment on Faux "news." During a discussion about corporate taxes supposedly being way too high in the United States on Fox's Bulls & Bears, wife of former General Electric CEO Jack Welch, Suzy Welch said this in response to one of the other guests, Nomiki Konst, bringing up the topic of corporations outsourcing their jobs overseas:

WELCH: Nomiki, they're moving overseas because they are seeking better tax treatment (crosstalk). And Nomiki, before you say this is just the fat cats who want to make more higher salaries, that's not the case. It's because they want to return higher returns to shareholders, who happen to be widows and orphans along with people of average means.

And so, yes the corporations are shopping for lower taxes, because we have a ridiculous tax code for corporations in the United States, and there's two trillion dollars that's overseas when it shouldn't be. That's yet another reason why we have to reform the tax code because we're losing corporate taxes here because of our terrible tax code.

Can you help us out?

For 17 years we have been exposing Washington lies and untangling media deceit, but now Facebook is drowning us in an ocean of right wing lies. Please give a one-time or recurring donation, or buy a year's subscription for an ad-free experience. Thank you.

More C&L Coverage


New Commenting System

Our comments are now powered by Insticator. In order to comment you will need to create an Insticator account. The process is quick and simple. Please note that the ability to comment with a C&L site account is no longer available.

We welcome relevant, respectful comments. Any comments that are sexist or in any other way deemed hateful by our staff will be deleted and constitute grounds for a ban from posting on the site. Please refer to our Terms of Service (revised 3/17/2016) for information on our posting policy.

Please Do Not Use the Login Link at the Top of the Site.

In order to comment you must use an Insticator account. To register an account, enter your comment and click the post button. A dialog will then appear allowing you create your account.

We will be retiring our Crooks and Liars user account system in January, 2021.

Thank you.
C&L Team