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dreamdancer

Greedy Corporations and the Wealthy Fatten Themselves on the Rest of Us -- Join "We Are One" Rallies to Stop the Freeloaders

By dreamdancer, in Speakers Corner

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Amazon    7

Amazon
Quote

>So... shall we say about 5 days after the next CME event.

I don't recall the riots after the last one.



Not a lot of color TV's after the last one

How long do you think it will take Americans to cope with living as they did in the 1850's... since none of what makes this the modern world will be unaffected

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DaVinci    0

DaVinci
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That is an amazing article in Vanity Fair.



Makes some assumptions in the article.

"In a nutshell, this theory associated higher incomes with higher productivity and a greater contribution to society. It is a theory that has always been cherished by the rich. Evidence for its validity, however, remains thin"

And any other process has ALSO shown to have problems. Look at how taxing the rich in England lead to an exodus out of the Country... Same thing in NJ.

"First, growing inequality is the flip side of something else: shrinking opportunity."

A guy that was born a bastard to a single mother is now President of the US. Even the most poor have refrigerators and color TV's... Many have cars. Education has never been as accessible as it is right now... you could go to school instead of posting and end up with a degree.

And "shrinking opportunity" does not jive with this sentence a few inches down the page ,"To give just one example, far too many of our most talented young people, seeing the astronomical rewards"

"Third, and perhaps most important, a modern economy requires “collective action”—it needs government to invest in infrastructure, education, and technology."

Total speculation... Pushing an agenda.

"Of all the costs imposed on our society by the top 1 percent, perhaps the greatest is this: the erosion of our sense of identity, in which fair play, equality of opportunity, and a sense of community are so important. "

I would say the same about welfare.

Quote

I do wonder how long it will be till the riots in this country begin.



Too bad most will be disarmed huh?

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diverborg    0

diverborg
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the facts are the rich are freeloading of the rest of us - and they need to pay their fair share of tax...



Was this meant to be sarcasm? If not...

1. Have you ever looked at a tax book on what the tax rates are per income level in this country? Do that first before you make any more comments about what a "fair share" is.

2. Please elaborate on how a "wealthy" family that pays their fair share of taxes (see #1), that provided a service to earn that wealth is freeloading off of anybody.

3. Do you think that a family with 3+ kids in the public school system that make around $30,000 a year pay their fair share in taxes? Enough to cover the cost of their childs public education, children that they brought into the world (rich people didn't make them have babies)? hint... see #1 for clues to this answer

4. Guess what, even though I don't have kids and pay a much higher tax rate on a much higher income, I'm more than pleased to help pay for their education. You know why? So maybe they can grow up to actually contribute themselves. (so call me selfish if you want to)

5. Notice I'm playing nice here, and I won't even touch the issue of welfare and medicaid.



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billvon    3,180

billvon
> the facts are the rich are freeloading of the rest of us - and they need to pay
>their fair share of tax...

I agree! Let me check here -

Looks like the richest 10% of Federal taxpayers pay over 70% of the taxes in the US! And when you get higher they pay even more. The richest 1% pay more than the bottom 90%.

So the next time you see a rich guy on the street - might want to thank him for reducing your tax burden.

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dreamdancer    0

dreamdancer
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huge global companies such as Verizon, Boeing, ExxonMobil, and Bank of America also pay no taxes. These artful dodgers aggressively solicit government subsidies and use accounting tricks to move money to overseas tax havens like the Cayman Islands. They pretend to earn their profits offshore and then report their paper losses here in the United States–so they don’t have to pay the IRS a dime.

Wealthy individuals have also benefited from a half-century of tax reductions. If U.S. millionaires and billionaires paid taxes based on 1961 tax rules, we would have raised an additional $231 billion in federal revenue this year.

By reversing years of tax giveaways to America’s rich and the corporations that enrich them, Congress could raise trillions in revenue. We could fund the public structures that safeguard our families and our future.

There are four revenue raisers that Congress could institute tomorrow that would generate $400 billion a year–or $4 trillion over the next decade. Such programs would restore greater fairness to our tax system and reduce the extreme levels of inequality polarizing our society.

Congress could levy a modest financial transaction tax on the transfers of stock, currency, and speculative investments that do little to strengthen the real economy. This would generate $150 billion a year while exempting smaller investors.

Lawmakers could reduce corporate tax dodging by closing overseas tax havens and requiring companies to pay U.S. taxes on the profits they actually earn in this country. This could generate as much as $100 billion a year.



http://blogs.alternet.org/speakeasy/2011/04/04/400-billion/
stay away from moving propellers - they bite
blue skies from thai sky adventures
good solid response-provoking keyboarding

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Kennedy    0

Kennedy
So you complain about companies working for their own benefit in the framework set up by lawmakers, and then you want lawmakers to change things. You do realize that companies react much faster than lawmakers, and so always work to tilt the playing field in their favor.

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Congress could levy a modest financial transaction tax on the transfers of stock, currency, and speculative investments that do little to strengthen the real economy. This would generate $150 billion a year while exempting smaller investors.



Or it would devastate the financial sector, particularly damaging individuals and small investment firms.

Quote

Lawmakers could reduce corporate tax dodging by closing overseas tax havens and requiring companies to pay U.S. taxes on the profits they actually earn in this country. This could generate as much as $100 billion a year.



Or it could cause US companies to go under as other countries retaliate. Do you ahve any idea whatsoever how international trade actually functions? Or is the extent of your understanding limited to the idea that "the people with more money than me need to pay for things I want"?

I also noticed you left out the other two "revenue raisers" listed in the article. What have you go to say about
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Congress could establish new top tax rates on households with annual incomes over $1 million, which could generate another $100 billion a year. Under our current tax system, a person earning $374,000 a year pays the same top tax rate as someone earning $10 million a year.

Lawmakers could institute a progressive estate tax on fortunes over $5 million, with higher rates on billionaire estates. That would generate $45 billion a year.


witty subliminal message
Guard your honor, let your reputation fall where it will, and outlast the bastards.
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mnealtx    0

mnealtx
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Or is the extent of your understanding limited to the idea that "the people with more money than me need to pay for things I want"?



No more callers, folks...we have a winner!
Mike
I love you, Shannon and Jim.
POPS 9708 , SCR 14706

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dreamdancer    0

dreamdancer
some economic facts for you...

Quote

Households with incomes over $1 million in 1961 paid an average 43.1 percent of their incomes in federal income taxes. Today, households with $1 million income pay 23.1 percent, almost half as much, adjusting for inflation.

If households with income over $1 million today paid their federal income taxes at the same rate that comparable households paid taxes in 1961, we would this year raise an additional $231 billion.
If U.S. corporations paid at the same effective tax rate that they paid in 1961, the additional tax revenue would total $485 billion.

In 1961, small business owners and individuals paid twice as much in federal income taxes as large corporations. By 2011, small business owners and individuals will be paying nearly five times in taxes what corporations pay.

Congress and special interest lobbyists have made mincemeat of our tax code, losing hundreds of billions in revenue. Worse, lawmakers have averted their eyes as corporate lobbyists drill new tax loopholes and extract new corporate welfare subsidies.

That’s how a profitable company like General Electric aggressively avoids taxes. Since 2006, General Electric has reported over $26 billion in profits, yet paid not one penny in U.S. taxes.

Other huge global companies such as Verizon, Boeing, ExxonMobil, and Federal Express also pay no or very low taxes. These artful tax dodgers use accounting gymnastics to move money to overseas tax havens like the Cayman Islands or Ireland. They pretend to earn their profits offshore and then report their paper losses here in the United States—reducing their responsibility to Uncle Sam.




http://www.alternet.org/economy/150550/we_don%27t_need_to_shut_down_the_government%3A_tax_the_wealthy_and_deadbeat_corporations_to_close_budget_gaps/
stay away from moving propellers - they bite
blue skies from thai sky adventures
good solid response-provoking keyboarding

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mnealtx    0

mnealtx
1961, you say? Let's see what people had to say about the issue during that time period...

"Lower rates of taxation will stimulate economic activity and so raise the levels of personal and corporate income as to yield within a few years an increased – not a reduced – flow of revenues to the federal government."

– John F. Kennedy, Jan. 17, 1963, annual budget message to the Congress, fiscal year 1964

"A tax cut means higher family income and higher business profits and a balanced federal budget. Every taxpayer and his family will have more money left over after taxes for a new car, a new home, new conveniences, education and investment. Every businessman can keep a higher percentage of his profits in his cash register or put it to work expanding or improving his business, and as the national income grows, the federal government will ultimately end up with more revenues."

– John F. Kennedy, Sept. 18, 1963, radio and television address to the nation on tax-reduction bill
Mike
I love you, Shannon and Jim.
POPS 9708 , SCR 14706

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funjumper101    15

funjumper101
***
A guy that was born a bastard to a single mother is now President of the US.
***

Id10T crap here.

Are these your own words, or a cut and paste from some other source?

Fatcs are really stubborn. No matter how much the 25% or more of idiots (right wing conservatards) don't like it, the POTUS is a US citizen who was born to parents that were legally married.

From Wikipedia, could have been from any FACTUAL source>>>

Obama's parents met in 1960 in a Russian language class at the University of Hawaii at Mānoa, where his father was a foreign student on scholarship. The couple married on February 2, 1961, separated when Obama Sr. went to Harvard University on scholarship, and divorced in 1964.

<<< End

In regard to taxation, Taxes in terms of a percentage of income has gone DOWN drastically for the highest income folks in the USA. Facts, not sheeple opinions generated by the massive marketing machine that is the corporate media.

The percentage of income taxes paid by corporations in the fifties, out of the total collected, was about 35%. In 2010, it was less than 10%. Once again, FACTS, not sheeple opinions generated by the massive marketing machine that is the corporate media.

If we really want to go back to the fifities when times were good, black folks knew their place and could not marry white women, unmarried women could not own property in their own names, lets get the tax system back to that time as well.

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funjumper101    15

funjumper101
Apparently you haven't read very much of the fact deficient crap posted here by the conservatards.

The IDIOTS who are still falling for the "birther" bullshit need to be shouted down and embarassed publicly for their ignorance.

Contrary to the RWC mentality that has become rampant since the Reagan presidency, ignorance is something to be ashamed of. Continuing to spew ignorant LIES must be challenged at every opportunity.

Unfortunately, these days, it is like shoveling against the tide. None of the RWCs these days can tell the difference between fact and fiction. Facts are completely immaterial to them. All that matters is how they "think" things are, as fed them by the corporate media. Prime example, the ACORN issue. The morons can't tell the difference between "voter fraud" and "voter registration fraud", much less understand the relative risks to the voting system.

Ignorance is NOT bliss. It is dangerous to a system of government that relies on an informed populace to vote intelligently. The current budget debacle is the current example of the power of ignorance over fact. When the government shuts down due to the Rescumlicans, the mass medai has managed to convince 1/2 the population that the Democrats share the blame. The FACTS are that the rescums are 100% responsible. Fact, not opinion. Just like when the rescums did it in the 90s.

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