News Release

Wall Street and Washington Downgrade America

SCOTT KLINGER, scottklinger at businessforsharedprosperity.org
Klinger is Director of Tax Policy for Business for Shared Prosperity, a network of forward-thinking business owners, executives and investors committed to building enduring economic progress on a strong foundation of opportunity, equity and innovation.

He said today: “Wall Street and its Washington representatives downgraded America with disinvestment in Main Street, reckless speculation, bubbles and busts and misdirected bailouts. Large corporations are reporting record profits, sitting on record amounts of cash and paying less of their profits in taxes in recent years than they have since World War II. Restoring economic health will not come from more tax cuts, wage cuts, layoffs, cuts in public services and infrastructure. We need to end tax giveaways for wealthy individuals and corporations and get funds flowing to small business job creation, productive innovation and rebuilding our failing infrastructure.”