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Because of tax "loop holes", wealthy Americans and Corporations pay very little to no taxes at all, which mean everyday, average Americans must shoulder the tax burden.  Is this fair?

In reality, Loop holes are just another way for the wealthy to lie and cheat and get around the law.  And, should loopholes be legal in America?  And, what does that teach us about shouldering our fair share and being responsible or not responsible?  And why have we put up with this lying and cheating for so long?  What are we going to do about it?

The Republican Party, pretends that they want to lower taxes for the American people but they know full well that the loopholes they created means that Corporations and wealthy Americans will escape from paying their fair share and that every-day Average Americans will Shoulder the tax burden. Is this fair?

The Republicans pretend they want jobs here in  America.  But because of loop holes thousands of jobs have moved to China and India.  Why do they support these loopholes so that companies invest in China and India and not here in the United States?  Again, is this fair?  And, is this cheating?  I know it cheats the American people.   Everyone knows that to create jobs, you have to invest in America.  America's infrastructure, schools, technology, high-speed rails, cities and towns.  You cannot continue to cut and cut, and not put anything back, after awhile you will have nothing left at all but desolation and decay.  

One current example of a destroyer is the Republican Governor of New Jersey, currently proud of cutting the budget (education and services) but he will not Fund the tunnel which would have created thousands of jobs for his state.  To put something back, just not desolate the state.  

The Pretenders, "mission" is to sell to the American people the "bill of goods" that we Need less government, after all, government will only get in the way of their fraudulent schemes and try to hold them accountable to people and not to corporations!   Less Government, means No Regulations and no one to keep them from their dirty deeds.

They pretend they did not "bail out Wall Street.  But because of no regulations and policing, they already bailed out Wall Street!  Thank God for those sensible government officials who realized that in order to save our economy the bail out was necessary or the whole economy would have collapsed, because Bush & Co. waited until the last minute, when they were ready to get out of dodge and the collapse was imminent, to tell the American people just how badly they had squandered our economy with phony and fraudulent real-estate deals and in funding the phony and unnecessary Iraq War!

If you vote Republican or if you do not vote at all on November 2nd, and in the future you still continue to carry the tax burden while the wealthy get tax breaks, again while paying no taxes, or if you find that your Social Security benefits will be tied to the stock market because of privatization,or if you find that your Unemployment Benefits are put on Freeze while your medical premiums are going up.  If you continue to see that more jobs are shipped overseas, while our country decays from neglect and further delines into a third-world country, then you have no one to blame but yourself!

Originally posted to bacalove on Fri Oct 29, 2010 at 04:35 AM PDT.

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Comment Preferences

  •  Congressional big business stooges create (1+ / 0-)
    Recommended by:
    koNko

    a complex tax code which, as you say, allows the wealthy and corporations to avoid paying their fair share and then these stooges, abetted by the corporate press, run against our overly complex tax system.
    The fact is, if you work for wages, taxes are withheld and wage earners file each year in a fairly straightforward way with little or no room to cheat. For the majority, the federal tax system is not a maze. It's only a maze for those who want it that way and have the tax supported CPAs and lawyers to exploit the loopholes they paid to have enacted.
    Milo Minderbinder: It's the best system we have.

  •  Google (0+ / 0-)

    Has made $11.1 Billion overseas since 2007 and paid only 2.4% in taxes, one of the lowest effective tax rates of any US corporation. They did so through a complicated but clever scheme to transfer profits from division to division ending in Bermuda.

    Think about that the next time Sergi Brin says "Do no evil".

    Every time you hit the search button the cash register goes clink.

    Source: Bloomberg

    What about my Daughter's future?

    by koNko on Fri Oct 29, 2010 at 06:15:10 AM PDT

    •  bzzt. (2+ / 0-)
      Recommended by:
      koNko, VClib

      Google's tax rate was between 22% and 28% for the past three years.

      The 2.4% rate is the rate only on income that it manages to pass to its Irish subsidiary.

      •  As noted in my comment. (0+ / 0-)

        Has made $11.1 Billion overseas since 2007 and paid only 2.4% in taxes ...

        I think my statement is accurate and clear, but thanks for underlining that.

        Note futher my response to VClib below.

        What about my Daughter's future?

        by koNko on Fri Oct 29, 2010 at 07:19:59 PM PDT

        [ Parent ]

    •  koNko - that's just not true (0+ / 0-)

      Get the real facts. Read their financial statements filed with the SEC.

      "let's talk about that"

      by VClib on Fri Oct 29, 2010 at 12:13:13 PM PDT

      [ Parent ]

      •  Certianly True (0+ / 0-)

        Go back and read my statement carefully. This for foreign income.

        Please note Goggle declined to comment on this to Bloomberg, if they disagreed with the facts surely they would have offered a correction.

        Such accounting measures cost the US Government more than 60 Billion a year and other governments as well.

        Why Google got singled out is their rate is exceptionally low, something uniquely available to software driven industries that run, essentially virtual enterprises based on license fees that can be set artificially low.

        Suggest you research this a bit more.

        Goggle actually has very parasitic business practices and little respect for rule of law, and other examples is their appropriation of copyrighted materials for Goggle Books which they compiled without authorization and then used hardball tactics to obtain the lowest possible royaltypayments, far below standard rates.

        Still another is Goggle Streets which they executed globally without consideration of national laws and now has them in hot water in several countries due to invasion of privacy due to local laws.

        But if you research the details I quoted I think you will find this accurate.

        What about my Daughter's future?

        by koNko on Fri Oct 29, 2010 at 07:17:44 PM PDT

        [ Parent ]

        •  koNko, Google's obligation is to its shareholders (0+ / 0-)

          I did not understand your comment accurately, and while you do refer to foreign income you don't make it clear that the tax rate is soley for the foreign income, or give a more complete picture by stating Google's actual effective US tax rate as noted by burrow owl. It really doen't matter what political philosophy its founders have, as a public company Google has a fiduciary duty to its shareholders to pay the minimum amount of US corporate income taxes. I noted a famous quote in one of my comments above that does a great job of explaining the obligations of US taxypayers (both individual and corporate), but I'll repeat it here:

          One of the most famous appellate judges of his generation, and a well know progressive, said it best in a 1947 case, Gregory v Halvering 69 F.2d

          "Anyone may arrange his affairs so that his taxes shall be as low as possible; he is not bound to choose that pattern which best pays the treasury. There is not even a patriotic duty to increase one's taxes. Over and over again the Courts have said that there is nothing sinister in so arranging affairs to keep taxes as low as possible. Everyone does it, rich and poor alike, and all do it right, for nobody owes any public duty to pay more than the law demands."

          Judge Learned Hand
          U.S. Court of Appeals  

          "let's talk about that"

          by VClib on Fri Oct 29, 2010 at 08:17:47 PM PDT

          [ Parent ]

  •  Loopholes don't exist on income (0+ / 0-)

    They exist for ownership, financing, dividends, etc.

  •  bacalove - cheating through the use of loopholes (0+ / 0-)

    As long as someone follows the tax law they cannot lie and cheat the American people. Be critical of the tax laws, but not the taxpayers. One of the most famous appellate judges of his generation, and a well know progressive, said it best in a 1947 case, Gregory v Halvering 69 F.2d

    "Anyone may arrange his affairs so that his taxes shall be as low as possible; he is not bound to choose that pattern which best pays the treasury. There is not even a patriotic duty to increase one's taxes. Over and over again the Courts have said that there is nothing sinister in so arranging affairs to keep taxes as low as possible. Everyone does it, rich and poor alike, and all do it right, for nobody owes any public duty to pay more than the law demands."

    Judge Learned Hand
    U.S. Court of Appeals  

    "let's talk about that"

    by VClib on Fri Oct 29, 2010 at 12:22:51 PM PDT

  •  bacalove - Social Security & the stock market (0+ / 0-)

    I have not seen anyone propose that current Social Security trust fund assets be placed in the stock market. What I have seen proposed is the voluntary option of having a portion of the amounts deducted from our paycheck placed in a 401K type account which would have several investment choices. And no one has proposed cutting the current benefits of people who have already retired and are receiving Social Security.

    "let's talk about that"

    by VClib on Fri Oct 29, 2010 at 04:48:39 PM PDT

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