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Not all of us are paying taxes...thanks to those republicans...
A Little Patriotic Sacrifice
By Bill Moyers
Saturday 16 October 2004
There are moments when you see suddenly crystallized in a particular event, a threat to democracy as ominous as the smoke rising from Mt. St. Helens.
This week it was that enormous payoff to big corporations by their subjects in Congress. I say payoffs advisedly. Business elites provide politicians with the money they need to run for office. The politicians pay them back with a return on their investment so generous it boggles the mind. That legislation enacted this week is worth $l37 billion in tax cuts for corporations. One company alone - General Electric - will receive over $8 billion, despite earnings last year of over $15 billion. Many companies - Microsoft, Oracle, Hewlett-Packard, Eli Lilly, among others - have been parking profits overseas rather than bring them back to America where they are taxed. So Congress has now blessed them with a one-time "tax holiday" during which they can bring home the bacon at about one-seventh of the normal tax rates.
These plums are usually couched in such language they would defy a Delphic oracle to interpret them - all the more to hoodwink us. What's behind those hieroglyphics in Section 713, Subsection A and B, Page 385? Why, a multimillion dollar windfall to Home Depot for importing ceiling fans made by serfs in China. And that little clause written in Sanskrit so tiny it would take a Mount Palomar telescope to read? Nothing less than a $27 million tax present to foreigners who bet at American horse and dog tracks. On and on it goes, the pillaging and plundering by suits with Guccis.
In a time of war, terror, and soaring deficits, you would think the governing class would be asking these corporate aristocrats to make a little patriotic sacrifice like that asked of single mothers or our men and women in Iraq. Instead they're allowed to pass their share of the burden to workers and children not yet born. At the least they ought to be required to remove the flag from their lapels and replace it with the icon they most revere - the dollar sign.
@ stinky
So Congress has now blessed them with a one-time "tax holiday" during which they can bring home the bacon at about one-seventh of the normal tax rates.
Looks like your story is talking about the IRS's attempt to induce these corps to start moving their investments in a domestic direction...not necessarily a bad thing. 1/7 of something is a lot more than 7/7 of nothing.
Regarding the current tax rates - there's nothing nominal about them when you stroke the check - it's painful as hell.
Why is the irs having to solve this problem? Isn't it economic treason?
And don't conflate your pain with theirs chief...i'm sure yours is more genuine...
LOL
Very true....on both counts.
HOLY SHIT! We agree!
See, your turning into a free-thinking, free-loving independent after all! Now, VOTE NADER!
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The top 6 percent of American citizens own 97% of the entire wealth of the country. These households have an average wealth of $10.2 million and pay only 3.5 percent of their wealth in taxes. By way of comparison, the bottom 40 percent of taxpayers have an average wealth of $1,100 and pay 163 percent of their wealth in taxes.
If all taxpayers paid the same 10.5 percent of their wealth in taxes as median income families pay, the taxes of the lowest 40 percent would be cut by 94 percent while the taxes of the wealthiest would triple.
AMERICA IS AN OLIGARCHICAL PLUTOCRACY DISGUISED AS A REPUBLIC. THE CONCEPT OF AMERICA BEING A DEMOCRACY IS EXPOSED AS A COMPLETE FRAUD.
From 1984 to 2002, the government collected $1.7 trillion more in Social Security taxes than it paid out. The extra money was supposed to go into a fund to help pay for baby boomers' retirements but instead was used to fund tax cuts for the wealthy.
Our country is being controlled by a miniscule few people who are exercising monopolistic fascist rule over the citizenry. For freedom's sake we must do all we can to abolish the Republican Party facade and the lie that it is perpetrating upon America.
http://www.osjspm.org/101_taxes.htm#8
TYPICAL EXAMPLE OF BUSH'S SATANIC LIES BELOW!
An analysis by the Annenberg Public Policy Center's FactCheck.org debunking Bush's claims that Kerry's plans to raise taxes on the richest Americans would increase the tax burden on 900,000 small businesses.
The analysis found that the Bush campaign is counting every rich person who has even $1 of outside business income as a small business owner, even if they have no employees.