The obvious solution is to lower corporate income taxes and expand corporate welfare.
Joel Send a noteboard - 02/03/2011 01:30:46 AM
It's old news, really; the Greedy Old Party rails at welfare mothers all day long and insists we can't feed starving kids with SCHIP or pay emergency responders for saving lives in a terrorist attack, but the REAL sacred cow isn't the routinely assaulted Social Security or Medicare system, it's corporate welfare, which is never even considered when it's time for another round of budget cuts. Corporations have more rights and privileges than you or I but pay less taxes, as I've said many times only to hear fierce denial from people who live in denial. Expecting big business to contribute anything like the share of the tax burden they face in the many industrialized nations whose economies have been doing much better than ours for decades is un-American: Patriotism means imploding your nations economy, repeatedly. After all, supporting big business increases federal revenue by increasing coporate income taxes--even though US corporate income taxes are a pathetic joke and the industry lobbyists masquerading as politicians are constantly demanding they be lowered.
The bottom line is we've bought back into laissez-faire economics even though everyone else on the planet not only knows it doesn't work but can cite chapter and verse on its repeated and consistently catastrophic collapses (exhibit A is usually the global depression of the '30s that prompted desperate masses to elect genocidal maniacs promising nationalist glory but delivering the bloodiest war in history). Thirty years of moving to the right has resulted in deregulation, privatization, union busting, tax cuts etc. that brought America to her knees and sent most of her industry to China, yet the proposed solution is to move even FURTHER right (just a few weeks ago former House Majority Leader Dick Armey suggested axing Medicare because, according to him, most Americans have TOO MUCH health insurance). It's like a 60 pound heroin addict who smells like a landfill and has three teeth left but is CONVINCED that all he needs is a little more junk to put him right. At some point you either accept that you need to make some major changes or denial kills you. Perhaps the most ironic thing is that the big winner in the laissez-faire liquidation of America is "Red" China.
However, as long as people buy into the big lie that they're poor because Uncle Sam is taking too much of their taxes rather than because the "ownership society" basically means "you're on your own" nothing's going to change. Most individuals tax burden is primarily local rather than federal anyway, but until budgets get cut to the point that people start to see up close and personal just how much government actually does they won't value it, and will continue insisting we'll all be better off with lower taxes. As always, the first in line for those tax cuts will be the people (particularly the "people" who exist nowhere but on paper) who need them least. We've become convinced that the American Dream means "do whatever you have the power to do" and that's great if you're at the top of the food chain, but pretty awful if you're anywhere else.
The bottom line is we've bought back into laissez-faire economics even though everyone else on the planet not only knows it doesn't work but can cite chapter and verse on its repeated and consistently catastrophic collapses (exhibit A is usually the global depression of the '30s that prompted desperate masses to elect genocidal maniacs promising nationalist glory but delivering the bloodiest war in history). Thirty years of moving to the right has resulted in deregulation, privatization, union busting, tax cuts etc. that brought America to her knees and sent most of her industry to China, yet the proposed solution is to move even FURTHER right (just a few weeks ago former House Majority Leader Dick Armey suggested axing Medicare because, according to him, most Americans have TOO MUCH health insurance). It's like a 60 pound heroin addict who smells like a landfill and has three teeth left but is CONVINCED that all he needs is a little more junk to put him right. At some point you either accept that you need to make some major changes or denial kills you. Perhaps the most ironic thing is that the big winner in the laissez-faire liquidation of America is "Red" China.
However, as long as people buy into the big lie that they're poor because Uncle Sam is taking too much of their taxes rather than because the "ownership society" basically means "you're on your own" nothing's going to change. Most individuals tax burden is primarily local rather than federal anyway, but until budgets get cut to the point that people start to see up close and personal just how much government actually does they won't value it, and will continue insisting we'll all be better off with lower taxes. As always, the first in line for those tax cuts will be the people (particularly the "people" who exist nowhere but on paper) who need them least. We've become convinced that the American Dream means "do whatever you have the power to do" and that's great if you're at the top of the food chain, but pretty awful if you're anywhere else.
Honorbound and honored to be Bonded to Mahtaliel Sedai
Last First in wotmania Chat
Slightly better than chocolate.
Love still can't be coerced.
Please Don't Eat the Newbies!
LoL. Be well, RAFOlk.
Last First in wotmania Chat
Slightly better than chocolate.
Love still can't be coerced.
Please Don't Eat the Newbies!
LoL. Be well, RAFOlk.
You Have More Money In Your Wallet Than Bank Of America Pays In Federal Taxes
02/03/2011 12:55:30 AM
- 740 Views
The obvious solution is to lower corporate income taxes and expand corporate welfare.
02/03/2011 01:30:46 AM
- 478 Views
Presumably, the CEO's paid income tax on the compensation they receive.
02/03/2011 01:42:55 AM
- 385 Views
So the corporations are effectively compensated through their constituent employees?
02/03/2011 02:33:15 AM
- 425 Views
I think it's a great idea because it eliminates the notion of non-person entities as quasi-citizens. *NM*
02/03/2011 01:52:39 PM
- 153 Views
even though corporations have "personhood" they are not required to pay *income* taxes
02/03/2011 02:09:40 AM
- 399 Views
Re: You Have More Money In Your Wallet Than Bank Of America Pays In Federal Taxes
02/03/2011 02:33:54 AM
- 568 Views
I would be far more irritated if these companies' executives didn't pay taxes, either.
02/03/2011 02:34:46 AM
- 408 Views
This. Its to bad you don't skype chat. I was just dicussing this with Luke and Dan *NM*
02/03/2011 02:56:04 AM
- 152 Views
If a company doesn't make a profit, what exactly can you tax them on? *NM*
02/03/2011 08:31:36 AM
- 156 Views