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Robin Hood was not a Republican (Update x 2)

Sometimes it helps to state the obvious. Remember that dude from lore, Robin Hood? He took from the rich and gave to the poor. He was loved by the masses. Well, today, in America, we have the reverse. We have folks taking from the masses and giving that money to the rich.

From EPI:

So, we have the tax cuts which were passed last December. They weren’t paid for. We simply took money our of the government’s accounts and gave the money to the top 1 – 2% in America. Now. that’s really cool. And to make matters worse the Republicans don’t think that giving money to the rich is bad policy. They want to double down on that policy by making it harder to be poor in this country. They want to cut services (which disproportionately benefit the poor) by billions of dollars.

Update: the attack on middle-class America should be obvious to anyone making less than $250,000 a year. Republicans have said very clearly that the reason that you are stuck in the middle class and sliding quickly into the lower class is because that you’re lazy. You simply aren’t working hard enough. This is the take-home message. Republicans are stated they want to reward those who are “working hard” which seems to be the large corporations and CEOs. Just look at the news lately, GE and Exxon Mobil, two large multinational corporations with billions of dollars in profits, are paying nothing in taxes this year. Exxon Mobil’s gross profit, according to MorningStar, is well over $100 billion for 2010. General Electric’s gross profit, again, according to MorningStar, is just under $81 billion. The fact that these two corporate giants are paying zero in federal taxes is obscene.

This is the system that we have designed. We, the American people, have signed onto tax cuts for the rich and a lump of coal for the poor. We, through our representatives, have designed a tax system that is so complex and riddled with so many loopholes that multibillion dollar corporations campaign nothing in federal taxes and it can be legal.

The middle class feels that they’re drowning in debt and taxes because their wages are stagnant. There’s no extra money. There is no savings. We need to make our system work for us. It used to work for us. We need to make it work for middle-class America, working America, again.

Update 2: Did you see this freshman congressman complaining that he is having trouble getting by on $174,000/year? I’m having trouble typing this because I’m crying for this poor freshman Congressman. The average American family is taking home approximate $42,000 per year. He is making four times what the average American is making and he is complaining about it. C&L has more.

By |2011-03-31T05:53:34-04:00March 31st, 2011|Budget, Economy, Taxes|Comments Off on Robin Hood was not a Republican (Update x 2)

What is wrong with us?

In the United States, we believe in equality. We like to believe that everybody has a chance at the American dream. We love to hear rags to riches stories. Whether it is Cinderella or the Prince of Persia or even Bill Gates, we’d all like to believe that we can be sitting at the head of that huge boardroom table. Yet, at the same time, we allow a system to exist where corporations get breaks that the rest of us don’t. We justify this dichotomy by saying, “well, they create jobs.” For some reason, this small phrase “justifies” our allowing corporations to get every break imaginable. They are allowed to consistently thwart our rules and regulations and yet we still defend them. Does this mean we’re schizophrenic or just insane?

More from Arianna:

You want Exhibit A of two sets of rules? According to the White House, in 2004, the last year data on this was compiled, U.S. multinational corporations paid roughly $16 billion in taxes on $700 billion in foreign active earnings — putting their tax rate at around 2.3 percent. Know many middle class Americans getting off that easy at tax time?

In December 2008, the Government Accounting Office reported that 83 of the 100 largest publicly-traded companies in the country — including AT&T, Chevron, IBM, American Express, GE, Boeing, Dow, and AIG — had subsidiaries in tax havens — or, as the corporate class comically calls them, “financial privacy jurisdictions.”

Even more egregiously, of those 83 companies, 74 received government contracts in 2007. GM, for instance, got more than $517 million from the government — i.e. the taxpayers — that year, while shielding profits in tax-friendly places like Bermuda and the Cayman Islands. And Boeing, which received over $23 billion in federal contracts that year, had 38 subsidiaries in tax havens, including six in Bermuda. (more…)

By |2010-06-03T07:38:10-04:00June 3rd, 2010|Business, Taxes|Comments Off on What is wrong with us?
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