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A new website www.flipthedebt.org shows how much corporations and the top 1% owe the US. The answer: far more than what Congress is trying to cut from Social Security and Medicare.

This site is a response to the so-called “Fix the Debt” organization, which is just basically a bunch of wealthy Wall Street folks who instead of being willing to pay their fair share they want to get rid of social support programs.

Meanwhile,many of these very same corporations and their CEOs have contributed mightily to the national debt. The US has had to borrow over $1 trillion to pay for the 2001 and 2003 Bush tax cuts for the rich (incomes over $250,000). Additionally, since 2001 global corporations (many of them members of Fix The Debt, like GE) have dodged about $100 billion in taxes a year, thanks to using the “off shore tax system.” This $2.3 Trillion in “debt” that the super wealthy owe to the US is far greater than the $1.6 Trillion that Congress is now trying to cut from the deficit and which threatens the programs that support working families.

(Source: facebook.com)

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