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Old May 13th, 2013, 01:04 PM   #1
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The Biggest "Takers" and Societal Parasites Are the Rich, Not the Working Class and P

The Biggest "Takers" and Societal Parasites Are the Rich, Not the Working Class and Poor

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PAUL BUCHHEIT FOR BUZZFLASH AT TRUTHOUT

Ayn Rand's novel "Atlas Shrugged" fantasizes a world in which anti-government citizens reject taxes and regulations, and "stop the motor" by withdrawing themselves from the system of production. In a perverse twist on the writer's theme the prediction is coming true. But instead of productive people rejecting taxes, rejected taxes are shutting down productive people.

Perhaps Ayn Rand never anticipated the impact of unregulated greed on a productive middle class. Perhaps she never understood the fairness of tax money for public research and infrastructure and security, all of which have contributed to the success of big business. She must have known about the inequality of the pre-Depression years. But she couldn't have foreseen the concurrent rise in technology and globalization that allowed inequality to surge again, more quickly, in a manner that threatens to put the greediest offenders out of our reach.

Ayn Rand's philosophy suggests that average working people are 'takers.' In reality, those in the best position to make money take all they can get, with no scruples about their working class victims, because taking, in the minds of the rich, serves as a model for success. The strategy involves tax avoidance, in numerous forms.


Corporations Stopped Paying

In the past twenty years, corporate profits have quadrupled while the corporate tax percent has dropped by half. The payroll tax, paid by workers, has doubled.

In effect, corporations have decided to let middle-class workers pay for national investments that have largely benefited businesses over the years. The greater part of basic research, especially for technology and health care, has been conducted with government money. Even today 60% of university research is government-supported. Corporations use highways and shipping lanes and airports to ship their products, the FAA and TSA and Coast Guard and Department of Transportation to safeguard them, a nationwide energy grid to power their factories, and communications towers and satellites to conduct online business.

Yet as corporate profits surge and taxes plummet, our infrastructure is deteriorating. TheAmerican Society of Civil Engineers estimates that $3.63 trillion is needed over the next seven years to make the necessary repairs.


Turning Taxes Into Thin Air

Corporations have used numerous and creative means to avoid their tax responsibilities. They have about a year's worth of profits stashed untaxed overseas. According to the Wall Street Journal, about 60% of their cash is offshore. Yet these corporate 'persons' enjoy a foreign earned income exclusion that real U.S. persons don't get.

Corporate tax haven ploys are legendary, with almost 19,000 companies claiming home office space in one building in the low-tax Cayman Islands. But they don't want to give up their U.S. benefits. Tech companies in 19 tax haven jurisdictions received $18.7 billion in 2011 federal contracts. A lot of smaller companies are legally exempt from taxes. As of 2008, according to IRS data, fully 69% of U.S. corporations were organized as nontaxablebusinesses.

There's much more. Companies call their CEO bonuses "performance pay" to get a lower rate. Private equity firms call fees "capital gains" to get a lower rate. Fast food companies call their lunch menus "intellectual property" to get a lower rate.

Prisons and casinos have stooped to the level of calling themselves "real estate investment trusts" (REITs) to gain tax exemptions. Stooping lower yet, Disney and others have added cows and sheep to their greenspace to get a farmland exemption.


The Richest Individuals Stopped Paying

The IRS estimated that 17 percent of taxes owed were not paid in 2006, leaving an underpayment of $450 billion. The revenue loss from tax havens approaches $450 billion. Subsidies from special deductions, exemptions, exclusions, credits, capital gains, and loopholes are estimated at over $1 trillion. Expenditures overwhelmingly benefit the richesttaxpayers.

In keeping with Ayn Rand's assurance that "Money is the barometer of a society's virtue," the super-rich are relentless in their quest to make more money by eliminating taxes. Instead of calling their income 'income,' they call it "carried interest" or "performance-based earnings" or"deferred pay." And when they cash in their stock options, they might look up last year's lowest price, write that in as a purchase date, cash in the concocted profits, and take advantage of the lower capital gains tax rate.


So Who Has To Pay?

Middle-class families. The $2 trillion in tax losses from underpayments, expenditures, and tax havens costs every middle-class family about $20,000 in community benefits, including health care and education and food and housing.

Schoolkids, too. A study of 265 large companies by Citizens for Tax Justice (CTJ) determined that about $14 billion per year in state income taxes was unpaid over three years. That's approximately equal to the loss of 2012-13 education funding due to budget cuts.

And the lowest-income taxpayers make up the difference, based on new data that shows that the Earned Income Tax Credit is the single biggest compliance problem cited by the IRS. The average sentence for cheating with secret offshore financial accounts, according to theWall Street Journal, is about half as long as in some other types of tax cases.

. . .
I tell ya', if the right wing doesn't start seeing what's going on, they will have been the Nero's of the US, dancing while the country burns to the ground in poverty and pollution.

Tax the rich...it only has helped the economy when it was done in the past.
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Old May 13th, 2013, 01:26 PM   #2
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Government Spends More on Corporate Welfare Subsidies than Social Welfare Programs | Think by Numbers

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About $59 billion is spent on traditional social welfare programs. $92 billion is spent on corporate subsidies. So, the government spent 50% more on corporate welfare than it did on food stamps and housing assistance in 2006.

Before we look at the details, a heartfelt plea from the Save the CEO’s Charitable Trust:

There’s so much suffering in the world. It can all get pretty overwhelming sometimes. Consider, for a moment the sorrow in the eyes of a CEO who’s just found out that his end-of-year bonus is only going to be a paltry $2.3 million.

“It felt like a slap in the face. Imagine what it would feel like just before Christmas to find out that you’re going to be forced to scrape by on your standard $8.4 million compensation package alone. Imagine what is was like to have to look into my daughter’s face and tell her that I couldn’t afford to both buy her a dollar sign shaped island and hire someone to chew her food from now on, too. To put her in that situation of having to choose… She’s only a child for God’s sake.”

It doesn’t have to be this way. Thanks to federal subsidies from taxpayers like you, CEO’s like G. Allen Andreas of Archer Daniels Midland was able to take home almost $14 million in executive compensation last year. But he’s one of the lucky ones. There are still corporations out there that actually have to provide goods and services to their consumers in order to survive. They need your help.

For just $93 billion a year the federal government is able to provide a better life for these CEO’s and their families. That’s less than the cost of 240 million cups of coffee a day. Won’t you help a needy corporation today?
The rest of the article is a good reflection on how the republican war on the middle class has changed the Welfare Queens/Kings of this nation. It's a sad reflection of the rise of fascism and the nonexistent of Christian principles since the 1980's.
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Old May 13th, 2013, 10:41 PM   #3
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1029 billion dollars in welfar in 2011..


Highest during the Bush Adminstration was 675 billion

Corporate welfare.. <200 billion.. 90 billion went to Big Bankrupsy Green Energy. 2 billion went to Big Oil.
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Old May 13th, 2013, 10:46 PM   #4
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Originally Posted by Mrs. CJ Parker View Post
Government Spends More on Corporate Welfare Subsidies than Social Welfare Programs | Think by Numbers



The rest of the article is a good reflection on how the republican war on the middle class has changed the Welfare Queens/Kings of this nation. It's a sad reflection of the rise of fascism and the nonexistent of Christian principles since the 1980's.
I've asked you before...and you ducked out of answering just as many on the Left have done:

A rich guy has to cough up $200,000 more in taxes. What will not be able to get funding by that now evaporated $200,000??? Go ahead...pick anything you want...anything. What will go???

I already know...and take it for granted...there won't be an answer forthcoming...
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Old May 14th, 2013, 06:05 AM   #5
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Another idiots article claiming that those who pay the most taxes are parasites while ignoring the worst parasites on the planet; politicians who dupe gullible low information voters into voting for them by using idiot Marxist class envy tactics.

Par for the course with Liberals. Fascinating that we didn't see all these Gubamint is great threads when Bush was in charge. The irony and hypocrisy of leftist talking points suggests that Gubamint is only good when morons on the left are in charge.
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Old May 14th, 2013, 06:56 AM   #6
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The rich are laughing at us all from their rhinestone-studded golf carts.
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Old May 14th, 2013, 07:11 AM   #7
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Originally Posted by mytmouse57 View Post
The rich are laughing at us all from their rhinestone-studded golf carts.
Wrong; the political parasites are because low information sheeple think the rich are the problem and have bought the false Marxist class envy narrative hook, line and sinker.
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Old May 14th, 2013, 07:25 AM   #8
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Wrong; the political parasites are because low information sheeple think the rich are the problem and have bought the false Marxist class envy narrative hook, line and sinker.
Then, you're saying, the welfare-class is laughing at us all from their rhinestone-studded Hoverround chairs?
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Old May 14th, 2013, 07:30 AM   #9
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Then, you're saying, the welfare-class is laughing at us all from their rhinestone-studded Hoverround chairs?
Haha; Im fairly certain that the welfare class is too busy taking to pay attention who it is coming from or even know or care where it comes from.
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Old May 14th, 2013, 07:51 AM   #10
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We all benefit from society in one way or the other. Even "self-made" people had to drive on public roads, rely on the public police force, find help from people educated in public schools -- and so on and so forth.

The fact is, unless you live in a grass hut in a sub-tropical zone, where you can grow or hunt all your own food, and make for yourself what little clothing you need -- you rely each and every day on other people, as well as "the system."

A man might think of himself as King Sh*t. But without the little guy who cleans the bathroom for minimum wage, he'd be in a world of hurt.
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