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companies profit when 'emplyoees' die.. wow.
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I don't know if the company actually profits. The company pays tens of thousands a year to insure all of their employees, so if they get $300 000 back it's  probably not a big profit. Note that is a big if, what are the chances that a working age person is just going to drop dead all of a sudden? Not very likely, so you won't be seeing that $300 000 often. Now this would be a big problem if the companies "work you to death" or indirectly kill you faster. Nonetheless, this is a very creepy and controversial topic since it involves profit and loss based on humans dying.
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Company-owned life insurance = employer tax breaks worth billions to banks & used as a measure of their ability to withstand financial shocks. Company paid premiums r tax free as r any investment returns on policies & death benefits. Companies & banks say earnings r used to cover healthcare & pensions when in fact they can use them however they please. Dems ended the tax deduction in 06. The IRS went after Winn-Dixie 4 using policies as tax avoidance schemes. Walmart & others had to settle class action suits.
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Hah? All the Moore reason Mike gets called socialist, anti-American by Bircher Republicans. All the names the T-Party calls Obama. The T stands 4 Big Tobacco not Tea.Too smart for Tea? Feel better, say u'r libertarian. Coughcough. Never hesitate to exceed dosage. Ayn Rand always did, objectively speaking, with her prescription speed pils. She would say the above companies are operating out of self interest which according to her, is the only reason for being in biz & for being alive. The NY Times article today on employer-owned insurance used Aaron Kushner of "Freedom" Communications mgmt. as the defender of their use. Kushner is the guy who was admitted to Harvard only after his father made a multi-million dollar donation. The guy who married into, where else, the Trump family after his & Trumps R/ E investments ran into trouble. In Trumps case the word is AGAIN. He's been TBTF since the 1980's which is why he had to create Trump University doing TV ads, "you too can be rich" along with Jordan Belfort of "Wolf of Wall Street" infamy. Trump as a result had to marry into the Republican Party as a leading spokesman for wingbat birthers against Obama.
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...................was that claire SHITman????????????
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why did not most of america get her health insurance?   plus get her job back?
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Rohan Blake Shared on Google+ · 1 year ago
Michael Moore be exposing all the shady shit. Employer profiting off your death "We Were Stunned When We Saw This in Michael Moore's Latest Film" — Claire Shipman of ABC News
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The abuse of the tax break is the real scandle here.
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@GoodTimesChopShop Ignorance robs you of power, take responsibility and learn, if i can understand it, you can. This is simply sensationalist, misleading, garbage news. also monetary system relates to currency not insurance policies - and this is just basic logic
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@allanhill1 It is not for you or anyone else including me to question this practice. When I said that this is why our country is so great, I did not mean that I am in favor of this practice or that I am for the moral decay of the U.S. What I meant was more abstract than that. Parties should be able to contract however they see fit and these contracts should be enforced by law. If there is a market for a practice it should be left to thrive whether or not I or anyone else approves.
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Wow, capitalism at its finest. Yet another way the rich can make money off of simply having lots of money.
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REPUBLICONS DESTROYED AMERICA IN 1929
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@Bren565 ......buy a semi-truck, insure it for accidents, then hire a driver and make sure the steer tires are cheap; when the tire blows, and the driver is killed, you now will have 1.5 million to buy more trucks and life insurance; repeat this step over and over; you now are a billionaire; (we live in a sick society were there is no value to human life except PROFIT;) Knowing what I now know, i don;t trust any employer whatsoever;
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Wow way to miss the point. First off, is it really a terrible injustice for someone to buy something that doesn't affect you in any way? Secondly, if you believe this is immoral, the culprit is NOT capitalism, but government. If government didn't force a highly complicated tax system with nonsensical loopholes on us, this never would have happened. If you find this immoral the answer is to shrink government and restore the real capitalism which we have been losing at a rapid pace.
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I have two sisters who are overweight, can I take out life insurance policies on them without their permission, and thereby profit from their death?
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Citizens bank has repeatedly (maybe 14 times so far?) a free life insurance policy offer, with possible upgrades for a monthly rate. Now I know why. It seems absurd that a selfish bank that profits off of overdrafts would be so generous, knew there was a hidden motive to this shit.
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@swirlcrop Star Whackers is so hard to believe also "Randy Quaid get out of my joo office, you are worth more dead than alive"- Kosher Mafia Shalom
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@accountNo9 If you went to the walmart where I live, you'd think otherwise. When I was unemployed I applied there 20 times and didn't get a job, and I'm an intelligent, fit, strong, hardworking young man. They've got 99 year old women working there and people in wheel chairs working there.. Now if you don't see something fishy there, well wake up and smell the chemtrails or something man. They've got people looking like they'll die any minute working there.
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@accountNo9 We're not supposed to understand the monetary system.
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@leizuoer The relationship between an employer and an employee is also based on consent. Also, the wife doesn't need the consent of the husband for her to buy life insurance for him. Besides, the only reason businesses are doing this in the first place is because it is a way for them to avoid higher taxes. And finally, what harm have they actually done anyone? If you invest in life insurance for me, it doesn't make me any worse off. Nothing wrong has been done.
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@netster007z But who is the government? Congress. Bribed by who? oh , rich multinational corporation leaders. Yeah, it's coming back to me now, they tell the president that if they do not provide tax cuts for the rich, or I dunno try to stop it's domination that the president will lose, since they control the money.
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NO JUSTICE ! NO PEACE ! OCCUPY WALL STREET
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Ron Paul or shhot your brains out.
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That's all they see you as, peasants.
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Politician: We rule you. Rich businessman: We make money out of your misery. Religious leaders: We fool you. Law enforcment: We stop you from changing the system. Average worker: We work for all, we feed all.
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companies: don't insure your employees without letting them know about it and an opportunity to reject it. loved ones of dead employees: by taking the insurance money from the employers you are doing nothing different than the employer. you are taking what is not yours. employers paid for the insurance, you didn't. companies invest in capital...that includes knowledge capital that employees own. period...greed works both ways here people.
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America now has worse healthcare than Cuba, that's just proves that America needs universal health care.
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if u think about it, its not a total 'profit' i mean.. insuring the death of an employee they have to train and replace them.. i mean if the employeeis important? it makes sense, although its " strange " it makes sense. its not 'making a buck' its actually compensating from the loss of an employee who is important to the company.
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This is America, Everything has Value, even life, you want capitalist, this is it. so don't complain.
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Am I the only sane person watching this. I don't see a problem a company can insure all sorts of assets why not it's employees. It takes a lot of investment to higher a new long term employee especially if its a professional job. The company is paying the premiums so yea it gets the payout. Them having a policy doesn't prohibit the person from having their own. "It's Creepy" isn't a legal justification for banning something only if it is doing actual harm to an individual, or their property
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my employer has a $50k policy but who knows if there's more
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Welcome to the beauty of the private sector. I'm fuckin' happy to live in the province of Québec in Canada, where A LOT of things are public : Électricity, lottery, alchool, the health care system, child care etc... None of these things have profit for a goal (except lottery & alchool but the profits are either going on the debt or on financing public services) and I can assure you that all intelligent people like it, and most stupid people hate it. That's how you know that something is good.
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@fosterchild4523 Now let me get this right. I want to be clear on this. The company decided that they cannot pay the employee more. Caznt afford it I guess. But...they can spend the money to insure this employee with the company as beneficiary. Do you not think that maybe offering the insurance as a benefit to the employee as part of the salary package? It seems the expense was not out of the question. Please think before you answer as I prefer an intelligent debate. Thank you
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Do this. Everyone insured at their place or business, wear a red flag on top of your head.....all those who aren't insured, wear a white flag......now, they can "easilier" pick you outta the crowd.
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Sometimes this "greatest country in the world" amazes me!
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We need to simply start killing the owners of corporations that do such things. Take out life insurance policies on them first. The owners of such corporations should be treated as murder suspects in the death of any employee as they have motive to kill employees for profit.
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America because of the money become immoral. what's the different with the suicide bomber ?
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YEAH LIKE WE NEED A BULLIT IN THE HEAD DUMMY
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@Thirstd7 Numb nutted retards like you ....the insurers love you
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save yourself 4min. and go watch mike's film
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@davis849 You are right. Most of us have lost our moral sight in this country and we tout the words, "bottom line" and "profit motive" as if they were a gift from God.
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@allanhill1 I have absolutely no doubt! Have seen companies throw away millions and millions and refuse to compensate those who made them rich.
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anybody find it ironic that in your post its highlighted wall street for an ad about stocks....
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I was a truck driver, my employer refused to change a bad steering tire on the semi-truck, I quit my job; The truck sat in the yard, from mon to thursday; On friday another driver drove the truck out onto the highway with no load, the steer tire blew and the semi-truck / trailer was pitched into the oncoming lane, luckily no one was coming, because cars always lose when hit by semi-trucks head-on at highway speeds; I reported this to government occupational safety and no investigation was held;
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We love the bottom line, we live for the bottom line and we will starve for the bottom line. For the bottom line, we are willing to see our children suffer, our parents struggle and be the laughing stock of the rich.
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Moore is a deceptive manipulator & his movies are mostly bullshit but even a broken clock is right twice a day. This is fucked up. I dont understand how you could take out a policy on someone without their consent. They say the law has now changed but how the fuck was it that way before.
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The whole thing is dumb. I don't see why the family should get the payout. I don't see why this should be legal either though. Creepy is pretty accurate.
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Incredible, we must bet on the CEO and executives lives also
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You people are fucking idiots. The only thing wrong about this whole exchange is the fact that corporations are writing off these insurance policies as tax deductible. There is no net gain on the corporations' part for the actual disbursement should an employee die. The higher the insurance, the higher the premium. It's a zero-sum game, as insurance companies won't let other corporations fleece them.
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@vava54own Michael Moore: I placate you. Good politician: I can't do anything because nobody knows i exist. Inventer: I hope someone appretiates my invention enough to pay me for it. Tycoon: I make large scale operations possible. If i need you, i pay you. Law enforcement: I am the will of the people - self destruction. Religious leader: We should all think of the group, before our selves. Average worker: I work hard enough to be entitled to your money.
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nice, guys!!! if u think your bussiness goes to bankrupt on the next3 years, ensure your employeesss an poison them slowly!!!!! u can save your company !!!!! Money is all,!!!!!! Mother fuckers!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
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Am I supposed to be outraged about the concept of life insurance?
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So, by your standards, if it's a cold, careless motherfucking family that already owns millions of dollars, it's okay? Are you the pot or the kettle?
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this is bullshit filled with misleading statements about a "free market" the same thing goes on in russia and china so its not about capitalism.
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@Doorocker Why should employers have anything to do with a person's health insurance? It is much better for the employee to get his pay in cash with which he can buy whatever insurance he thinks is best for his specific circumstances. The only reason employers offer health insurance plans (the cost of which must logically come out of the employee's pay check since it is part of the cost to hiring him) is to avoid having to pay higher taxes. It doesn't benefit employees at all.
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Who defines what fairness is? The government - I don't think so
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Shipman's assertion that "no body's really being hurt" is ficitious & ingorant. The billions of life insurance companies collected, are pay-outs that affect all people in society. That money doesn't drop from the sky. Granted, life insurance, like stock buying, is a pyramid scheme. But ordinary families "insure" members to get through major crises; companies insure to purely profit from ordinary folks (their former employees & those on OTHER side of the insurance scheme, the losing side).
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The sad thing is that a news show needs to watch a documentary to report anything that even sort of resembles news. News shows have become complete fluff, completely worthless.
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@dannyhill1971lives so you don't find it creepy or morally corrupt that these business not only get a tax break but can profit from employee deaths?
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ok heres my issue, every demotard on this page is screaming bloody murder about this but i found a hole in this little problem... they said "as of 2006 employees must give consent by federal law" so we all know what admin was in charge in 06, now the question is when did this life insurance scam start??? i know the answer and the truth is going to hurt alot of liberals if they pursue the answer, but there not because its so much easier to be a socialist puppet screaming anti americanism.
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@kn9ioutom FDR destroyed the US during his three term rule.
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I feel that the problem with these life insurance policies is that they create an environment in which your employer wishes you were dead. This leads to them denying you health insurance, not caring if you work in hazardous environments, and an overall lack of value on the workers.
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@Aliothemage come on, most of the people they insure cannot afford to buy in to the plans themselves, meaning they are being exploited, you don't see anything wrong with exploitation?
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Why do these people even care? They didn't pay for the premiums.
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@sheemsheem You don't think Capitalism has something to do with the situation in the middle east?
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"It doesn't cost the employee anything." The employee doesn't pay the monthly premiums, so why should the surviving family expect a payout?
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@leizuoer A wife can get an insurance policy for a husband without him knowing. And why should it be illegal, it doesn't violate his rights of life, liberty, or his pursuit of happiness. It does absolutely no harm to him. You can't make someone work for or marry you without consent because that would violate their right to liberty. Buying insurance policies for them does not violate any of their rights. And the businesses buying this kind of life insurance didn't come up with that term...
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Thats what they tried to do to me, Harrassed me, harrassed me, they tried to send me back during the summer, to a job, where it was soo hot, that people were suffering from heat exhaustion indoors, and yes some died. Oh yes it was union also, so much for living better. USA, United Slave Agreements End Greed now!
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We need more liberals commenting on my Ron Paul videos ! (Come over here and bash them so I can get more views)
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How is this wrong? Life insurance has always really been about someone benefiting from the death of someone else. It's simple another lottery, for goodness sake, just like every other insurance.
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@rahn45 So very true. Very sad really. People can acquire wealth while sharing with others. The business model of the USA is such that CEO's and administrations only serve the shareholders. Nothing and I mean nothing else is important. Profits and share values are the only thing for them. Shame they cannot see what effect it has on the society of the US. How can these p[eople seem so intelligent in running a business but be so blind about the consequences of their actions?
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From Australia but this is 21st century society where nobody knows each other so that close knit cimmunity feel doesn't really extend past the house next to yours :P the united states census bureau supplies stats like "Charity Contributions--Average Dollar Amount and Percent of Household Income, by Age of Respondent and Household Income" which show that the bottom income bracket only donate a whopping 2% more to charity than the other income brackets so even the poor r "heartless"
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These cockroaches should be in jail. They should be in jail in Malaysia.
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@Berelore okay, lets see if you react the same way when your wife dies and you unknowningly watch as you are scammed by her employer when they collect the life insurance and you recieve nothing for someone you loved.
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If the company payed for the insurance... of course they're the ones who are going to benefit? But there's something i don't understand here. If you could run a scheme of buying insurance for a big group of people and expect to profit off of it, that would mean the insurance company would lose money. Insurance companies in general obviously avoid that possibility, but what's different about insuring your employees that it would then be profitable? My guess is nothing, and this is just BS.
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This is such nonsense. The employer certainly has a financial interest in the employee LIVING, and it is reasonable for them to protect themselves from the COST to the business of the employee dying. That is a far cry from "wishing they were dead". Shame on you for such biased reporting. How about horse breeders? They insure the horse (just in case) - but does that mean they wish it dead?
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@ouivalerie the only reason that the companies are paying these people for an insurance policy that they rightfully owned, is because the justice system that we have created is flawed... we have stupid people as jurors we are manipulated by emotions. it is legally and rightfully the companies money, they invested their money in the policy, if the family wanted money, they should have bought a policy. Simple and straight forward...
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They been doing this for years on contractors working over here in war zones. The last company I worked for the going rate if we bite it they get 100,000.00
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Haha you're just a fucking ignorant uneducated redneck american. The only reason your pathetic ass slurps martini in the weekends, is that a lot of people are dying and starving because of fucktards like you. If you absoulutely have to bring up Human Nature, then you would know that human beings are meant to be in a pack. We are animals just like other animals basically. In the old times like millions of years ago you would feed an equal amount to the people you had in your group. Like a family.
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Who the fuck does it hurt? If your detached from the person that dies, who in truth would not take the money for that, they paid the premiums. Of course it's different for a family then it's usually referred to as blood money. But this is Capitalism and I see nothing wrong with it as such. If you can find something wrong with this, you may be a liberal :)
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People are so money hungry and evil... This money money money ideology is just vain imagination.
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This will piss a lot of people off, but, if you would also like to profit from your loved ones death then why dont you take out your own insurance policy on them. Just as the corporation did. It works both ways. The insurance that your loved one pays for will go to the benficiaries. In this case, the corp. insures the life of its valuable employees. Therefore the corp. gets paid.....because they paid the insurance. I see no problem here.
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Mike MEYERS? As Archie Bunker once said, "Good night Nurse, one of THAT tribe" Hey, anyone can insure anyone else and as long as THEY pay the premiums, they collect. You and I can do it to! It may be unethical, but it's perfectly legal.
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@AroundSun No shit. Too bad the liberal media is trying its damndest to paint Libertarians as no-government anarchists. The judge who handed down the Prop. 8 overturning in California was a libertarian! I tried explaining to a couple gay guys I know that right-wing ideology is what made this happen, but naturally they were completely unable to accept this fact.
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I wonder if any of the corporations who engage in this activity refused raises to employess but found the funds to insure the employee for insurance profit. Just another example of the decay of morals in this former great society. Greed not freedom reigns !!!!
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This sort of activity will motivate employers to not carry health insurance if you are worth more to them dead.
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"The only problem with capitalism is capitalists- they're too damned greedy." -Herbert Hoover
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Yes it hurts people!!! It hurts families that have unpaid bills and debts outstanding and the employers that are doing this are exploitive scum sucking off the average Jane and John Public trying to support themselves and their family. Sweatshop mentality!!!
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@kennyyy921 Looks like he hit pretty close to the mark.
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@Onneff69 I believe in the capitalist system but the corporations are at a point where they are totally without social conscience. The system is suffering from out of control greed. Unfortunately laws and restrictions must be put into place to force CEO's of large companies to do what they should have done on their own. Very sad really......
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@Figgy2Socks For the record, unions outspend businesses (even after Citizens United)*. Absolutely many politicians are corrupt and give businesses special favors. They give subsidies, favorable regulations, tax loopholes... This is exactly why we need a free market. If we were to, as Milton Friedman suggested, pass constitutional amendments protecting the free market, businesses would have nothing to gain bribing politicians.
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a lot of the corporations who support dead peasant life insurance are based out of israel. do the research.
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They been doing this for years on contractors working over here in war zones. The last company I worked for the going rate if we bite it they get 1,000,000.00 Sorry off by one zero.
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wait a sec, you could argue this is amoral, however this is really sensationalist. The insurance policy is not designed for companies to profit from employee death, but rather as a compensation method for the company's for loss of a valuable employee - in a very similar way that a family is compensated for loss of a loved one.
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@bobo "socialist puppet" Get out of my country you evil scumbag. Let America be free of Corporation tyranny! Go Michael Moore
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@allanhill1 USA has many jooos with power, how about Canada ? We give you guys 12 million Zionist Supremicist joos and we see Canada turn into a monster hated by the world, and when you guys mention joos we will call you guys stupid fascis Nazi's looking for scapegoat like those stupid Germans. Shalom
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We also need to kill off the far right asshole filth who support this kind of crap and think its just fine.
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you will be sued for providing faulty equipment to your workers
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