Top Of My Head

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Tag: Corporations

Tax Receipts By Source 1934 – 2011

I saw the below image on Facebook.  It was posted by a group called the Other 98%.  I wanted to see, before I shared it, if it was true.  So, I went looking for the data.  I found a spreadsheet on The White House U.S. Office of Management and Budget. I didn’t find any data to support the picture, but I did find something else just as interesting.

$0.22 for every dollar paid by the American Worker.

Sad Tax Data

In 1934, the tax receipts totaled (not including Social Security)  $784 million dollars – 53.57% was Individual Income Taxes and 46.43% was Corporate Income Tax.  In 2011, the tax receipts totaled (not including Social Security) $1,272,558 million – 85.77% was made up from Individual Income Tax and only 14.23% came from Corporations.

I don’t believe they’re paying their fair share, do you?

 

You have been fooled…

If you’re even thinking for a second about voting for a Republican, then you are a fool.  You’ve been hoodwinked and you don’t even know it.  You don’t know enough about the history of this country to make a proper decision.  You don’t understand enough about economics, moral hazards and deregulation to make the right decision.

It’s not your fault.

For the last thirty + years in this country, we have been told over and over again that what is good for business is good for America.  You know, I feel sorry for Ronald Reagan.  By all accounts, he was a nice man.  Tip O’Neil and him would have beers in the White House after a hard day debating.  He was easy going, soft-spoken and he believed what he said.

But, he was wrong.

Let me explain business to you.  Business isn’t a game, Businesses are not people and they don’t give a damn about you, the environment or your children.  The men and women who run businesses could give a rat’s ass about you.  Sure, there are some few and far between exceptions, but they’re, well, few and far between.

People go into business for one reason: to make money.

That’s it – nothing more.

I love my job, but quite frankly, I am there for a paycheck and health benefits.  If I could support my family by not working, I would.  Don’t get me wrong, I really love what I do and I’m good at it – so I’m lucky, I work a job I actually love, but love doesn’t make the world go around – money does.

Continuing on, what caused the economic crisis cannot be summed up in just one sentence.  There are many factors – predatory lenders, housing bubble, too much credit to the wrong people, deregulation and the list goes on.  But, the jobless recovery?  That’s easy: Companies are making huge profits because they aren’t hiring you.  And, the companies that are hiring, are paying the lowest wages possible.

Because?

Well, it’s easy…Businesses want profits, the higher the profits; the better the business.  The stock market rewards the businesses with the highest profits, by keeping their stock prices high.

Somebody’s getting rich – it’s just not you.

The GOP wants to dismantle the rest of the regulations that keep us safe at work, that help the environment and keep our food safe.  The GOP wants to dismantle the safety nets for the people who do the real work – you and me.  They want to lower taxes on businesses, because they say that will cause businesses to start hiring.

It’s not true.

The GOP wants to continue their destruction of America.

Don’t let them.

American Workers – Unite!

There was a time in America where you graduated from high school, started a job at a local business, worked there for thirty years and retired – with a full pension and, in some cases, medical benefits.  That was back when American Corporations still cared about their employees.  It was back before the Supreme Court stated that Corporations are people and should have the same rights.  It was back when unions were strong in this nation.  It was back when “the average CEO of a major corporation made 42 times the average hourly worker’s pay”. (Quote link)

Sadly, those days are gone.

Those of us who are not among the wealthy have been handed a bunch of malarkey from our leaders – the politicians, the management at many companies and even our talk show hosts.  We’ve been told that what’s bad for business is bad for jobs.  We’ve been told that moving factories to Mexico and importing goods from China is good for American companies and, therefore, good for those of us who work for a living.  We’ve been told that tax cuts for the rich and lowering the corporate tax rate will help bring jobs back to our neighborhoods.   We’ve been told that regulating the financial market is bad and deregulation is good.

All of this has been one great big lie.  Case in point: tax cuts.  Corporations are paying lower taxes than they have in half a century and, yet, they didn’t keep people on the payrolls.  Wonder why?  Another case is the financial market breakdown.  We’ve spent the last 30 years (and especially the last eighteen years) dismantling the regulations enacted during the depression that were designed to prevent the exact kind of meltdown our financial market suffered in 2008.  And, we’ve been told it was a good thing.

Now, Mitt Romney, in an opinion piece in USA Today, claims that people on unemployment don’t really want to work.  Does this man have a clue?  Does he get it?  He says (and I’m quoting because unlike Glenn Beck and Sarah Palin, I don’t make shit up!), “The indisputable fact is that unemployment benefits, despite a web of regulations, actually serve to discourage some individuals from taking jobs, especially when the benefits extend across years.”

I’ve been on unemployment three times in my life – never for more than six months – it was some of the worst times.  The idea that an American worker prefers unemployment is absurd.  My salary on unemployment would drop by 72%.  I can’t make my bills on that.  Now, I’m very fortunate – I am employed and in the last nine years, I have been unemployed for a grand total of one week – and I was paid by my ex-employer for that week and the one after it.  I have a friend who has been unemployed for a year and a half.  I can tell you that she’d rather be working.  In fact, I do not know one unemployed person who has said, “Gee, I love my unemployment insurance!  I guess I won’t look for a job!”

Romney is trying to convince the American Public that the unemployed are lazy and don’t want to work.  Where have we heard that before?  (Hint: Rush Limbaugh)

He goes on to say this (and the emphasis is mine):

“The system is also not designed for a flexible economy like ours in which some employees move from job to job for short periods, and are therefore ineligible for unemployment compensation when they are faced with a protracted spell without work.

To remedy such problems we need a very different model, perhaps establishing individual unemployment savings accounts over which employees would exercise direct control when they lose their jobs, or putting in place financial incentives for employers to hire and train the long-term unemployed.”

How many people in our economy really “move from job to job for short periods”?  I’m betting not many.  Even contractors work for just one company and, apparently Mitt has never been on unemployment, it is tracked for all of your employment.  Every state is different, but most states ask about your work history for the previous year and then you’re covered.  I believe he’s way off base.

But, his idea of unemployment savings accounts?  What is his problem?  So, now we’re responsible for our own retirement (no company pensions) and we’re going to have to come up with money to put aside in case our employer lays us off?  Just where is the average American worker supposed to get the money?  American Families are hard pressed for cash now, imagine them trying to save for college, health care, retirement AND unemployment.

As far as put in place incentives for employers, please – big eye roll – they all ready have plenty of incentives.  But, I do have a plan – triple their taxes and give them a tax break for every new hirer.  Take away their profits in taxes unless they hire more people.  Make companies that earned a profit, but laid off employees pay 85% of the profit in taxes unless they hire back 50% of the laid off employees.  How’s that for an incentive?  Start putting high tariffs on products made overseas and imported here – include American companies in the mix, so they have an incentive to build plants here.

American companies have had it easy for the last thirty years and take a good look at where it’s gotten us.  It’s time for the American Workers to take back the wheel and drive this bus!

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