We were all children once, and if there’s one childhood experience in California we’d like to remember fondly, it’s going to Disneyland. After a day in that park, anyone would be justified in thinking that the people who put this place together truly care about all of us.
Sadly, we’ve learned more recently what the Disney Corporation really cares about: tax cuts. So much so, actually, that they’ve put in a million dollars to try and preserve tax giveaways that can be repealed by Proposition 24 in November. These tax breaks, if they aren’t repealed, are going to cost California $1.3 billion dollars annually, money that will be taken away from schools, social services and public safety. So you would think that Disney would have a very good reason to want to keep the tax cuts.
Unfortunately, when you look at the facts, it all just comes down to cash. Disney is not struggling to make ends meet- their net income in FY 2009 was $3.3 billion. They’ve found the money to pay their CEO well over $20 million in total compensation last year.
Maybe you’d argue that with a little more money, Disney will do good things that will in turn improve California’s economy. But that argument doesn’t hold water. Disney can’t seem to find $3 million that would drastically improve quality of life for its underpaid hotel workers in Anaheim. Disney has cuts thousands more jobs than it has created in recent years, according to one study. And just to make matters worse, Disney reported in July 2010 that it was sitting on nearly $3 billion dollars of cash equivalents.
That’s right. Nearly $3 billion. Double what Proposition 24 would restore to California’s budget, hundreds of times what’s needed to improve the lives of working Californians who call Disney their employer. Maybe Disney corporate executives are satisfied with their records and actions. But the rest of us can’t help feeling that Disneyland isn’t the happiest place on Earth, at least not anymore.
Start some real fireworks. Vote Yes on 24.
Learn more: www.paytheirfairshare.com