A guy whose blog I “follow”…

…and who often makes a lot of very sound points very intelligently, if y’all ask me. I will eventually contact him about what I am proposing "We the people…" all ought to do.https://stephenpruis.wordpress.com/2017/04/26/dishonesty-about-taxes/

A quote from the above linked essay:

The US Tax Code is a bloated document, not because of statutes that address personal income but because of the myriad tax breaks that sometimes only single companies get. This is why businesses spend money lobbying Congress, it really pays off in tax perks. Somebody recently calculated that for each $1 a company spent in lobbying Washington, it got a return of $28. That is one hell of an investment! According to the GAO “In each year from 2006 to 2012, at least two-thirds of all active corporations had no federal income tax liability.” So much for corporations paying their fair share.

There used to be a tax principle that said that people who make money by investing money (the “you know who”) should pay more in taxes than people who made money by the sweat of their brow. This has been reversed so that if you work for a living, you pay more in taxes than those who simply move money around (proportionately, not absolutely). Another tax dishonesty: “The rich pay more in taxes that you!” yeah, 10% of 100 million dollars is a lot more money than 10% of $50,000 but it is still 10%.

It used to be the case that companies paid more tax than individuals. That was back before the companies realized that they could buy the government and stack the deck in their favor.

These are same people who back the claim that corporations are people. Now they want to establish that corporations are better than people. (They worship them and want us to also.

and a quote from:
https://stephenpruis.wordpress.com/2011/08/05/progressive-failure/

There used to be an unwritten morale principle that taxes on investment income should never be lower than the taxes on money earned by the sweat of your brow. Ronald Reagan agreed that investment income (capital gains) should be treated as “ordinary income” with regard to taxation. This was not acceptable to the Bush administration, though, which pushed capital gains taxes back to 15%, which corresponds to the rate on the very lowest income bracket. (This is the opposite of progressive taxation; this is regressive taxation.) This is a primary cause of the very wealthy paying taxes at the same rate as the poor. Much of their income comes from investments.

Consequently, the rich are getting richer and . . . well, you know the rest.

The rich are accumulating wealth at an astonishing rate. And they are using that wealth to buy politicians of all stripes to make sure that the rules don’t change, or if they do they only change to be more in their favor.
The very wealthiest Americans are earning an even greater share of the total income of the country. The middle class has seen its real income (corrected for inflation) shrink. And with the shrinking income of middle class people, we are buying less and less and hence we have a “demand problem” in our economy, e.g. not enough customers. Which is the excuse that corporations use to lay off even more people and squeeze their remaining employee’s wages to extract even greater profits than they were.

If you project this pattern into the future you will find a country whose government is of rich people, by rich people, and for rich people. And the rest of us will just have to be happy we have jobs at all.

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Posted in Random Miscellaney

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