By voting to not jump off the cliff today, all we did was postpone the decisions that must be made on how to make our economy sustainable. I have some grave doubts that we'll find a good way out because of several factors.
1. While we already had a government bought by Corporate interests, the Citizens United decision just accelerated the decline of democracy. This administration already sucks up to the multi-national corporations, while the Republicans sold out to them ages ago.
2. Multi-National corporations and the 1% already earn an average of $500,000 (a fifth of all earnings) but that's not the real story. The top 1% now own a third of all American wealth according to the NY Times. My conclusion, we're screwed, they call the shots given their practically unlimited resources.
3. With tax cuts now made permanent, there are fewer options to gain a balanced budget, given that Defense is a sacred cow, waste and all, and corporate welfare appears untouchable as well.
Showing posts with label fiscal scam. Show all posts
Showing posts with label fiscal scam. Show all posts
Saturday, January 5, 2013
Wednesday, January 2, 2013
Fix the Debt Scammers
Our corporate friends at the well funded "Fix the Debt" campaign are still hoping to get "their" tax-cut too. The Institute for Policy Studies tells how. Fix the Debt leaders lamented that “Washington missed this magic moment
to do something big to reduce the deficit, reform our tax code, and fix
our entitlement programs.” in their Press Release. What they aren't saying is that they're hoping for HUNDREDS OF BILLIONS in "tax reform" measures that they're pushing. These are the richest of the rich, with companies that pay their CEO's more than they pay in US taxes!
IPS comments "The hypocrisy was stunning. We documented, for example, how many of the campaign’s leaders had contributed massively to the national debt through tax-dodging tricks. Twenty-four of them had even paid their CEOs more in 2011 than their firms paid in corporate income taxes. We also calculated that the average Fix the Debt CEO calling for cuts to Social Security themselves had pension assets of $12 million, enough to garner a $65,000 monthly retirement check starting at age 65. "
IPS comments "The hypocrisy was stunning. We documented, for example, how many of the campaign’s leaders had contributed massively to the national debt through tax-dodging tricks. Twenty-four of them had even paid their CEOs more in 2011 than their firms paid in corporate income taxes. We also calculated that the average Fix the Debt CEO calling for cuts to Social Security themselves had pension assets of $12 million, enough to garner a $65,000 monthly retirement check starting at age 65. "
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