Corporate Crime Is Just ‘The Cost Of Doing Business’

Big business has made it a habit to privatize profits and socialize disasters. It’s time to put an end to their destructive pattern of behavior and the rules which allow them to get away with it.

“The cost of doing business.” That’s what corporations call it when they claim a deduction from their taxes for the damage they’ve done to people and the planet. It’s a cost of doing business all right; a cost to us, of doing business with them the way we currently do it, and it’s just one of the reasons so many people are calling for a whole new system.

To recap: on April 20, 2010, BP’s leased Deepwater Horizon rig exploded, killing eleven workers and spilling oil into the Gulf of Mexico. That rig kept spewing for 87 miserable days while reporters were kept away and the company told the public lies.

Five years on, BP’s has been found guilty of gross negligence and misconduct. They’ve been slapped with $42 billion in fines and damages. But the British behemoth’s not only threatening politicians they’ll pull out of the Gulf entirely if their fines aren’t reduced, they’re claiming a lot of that money back, thanks to a tax loophole that will enable BP to claim as much as 80 percent of the damages they’ve paid out so far as an ordinary business expense.

It’s not just BP either. Car makers, chemical companies, mine owners and banksters routinely deduct part of their court ordered payouts from their taxes…Which means that means we the people who sustain the damage, are also the ones subsidizing the damages.

It’s not just BP either. Car makers, chemical companies, mine owners and banksters routinely deduct part of their court ordered payouts from their taxes…Which means that means we the people who sustain the damage, are also the ones subsidizing the damages.