Monday, November 28, 2011

Illinois workers pay taxes to their employers, not to the state. read on.


If that headline had you confused- here it is again.
Some companies in Illinois have convinced the government to let them pocket their workers taxes.

In other words, if you work for one of these companies, the taxes that are deduced from every paycheck don’t go into the governments coffers- they go to the company you work for.

Tax dollars that would normally flow into the state treasury to pay for education and other necessary state services never make it there- instead these taxes go towards CEO bonuses. The corporations that get these sweet deals get to keep the money from their employees that would normally go to the state free and clear.

Why would the government agree to this?

The Illinois government was desperate to keep companies in state, so they went looking for a solution that could reward the job creators.

Usually states offer tax incentives, to entice companies to stay, trouble is- these companies either pay zero state taxes, or the minimal amount they pay on taxes weren't enough of an incentive to stick around.

The Illinois government knew that if it had to write a large check to these companies to stay in state, it would look ugly. Some might call it a kickback, others might say it was extortion.

Either way, the solution was to let the businesses retain worker paid for taxes as they were generated.

Sounds like the people that work for these companies, aren't getting necessary services for their tax dollars. You know, little things, like police, fire departments, roads, schools. Oh well, who needs the police anyway. Better that those tax dollars contribute to the corporations profits. Call me cynical, but it sounds like the workers are actually paying their employers for the privilege of having a job.

funny that, i thought the job creators were supposed to pay employees.
call this what you will, but this isn't capitalism, it isn't a free market.

If this continues- you need to know that it isn't a zero sum game.
As the federal government cuts back financial aid and subsidies to states, it will starve the states of revenue.

Every single republican running for president wants to eliminate capitals gains taxes, and corporate taxes.
If they do that, the states will have to raise tax rates on corporations. Businesses will threaten to move from one state with high taxes, to a state with lower taxes. Finally, when the tax rate is zero in every single state, the job creators will still demand larger and larger kickbacks.

When that isn't enough if an incentive- what then?

read more here.
you can view the story here.

Paying the corporate overseers for the privilege of having a job, sounds like feudalism doesn't it?

Admittedly, I was slow to catch on; but if you look at those on the far right, namely the Koch brothers, Cain, Perry, Bachman, and Paul Ryan, they all pay lip service the Constitution, to freedom, but- what they really want- is to make us all serfs!

If we are the serfs, who would the feudal lords be?

Call what the far right believe in- feudalism, corporatism, fascism- it doesn't matter, what does matter is that they do not believe in democracy.

CNBC: Is this Michelle Caruso Cabrera? Happier days.

You can get her book here.



Many people seem to think this is her- I'm not so sure.
I report- you decide.

Thursday, November 10, 2011

Compare and contrast.

this clip speaks for itself- it makes a sharp point.

How can an American watching the republican candidates not weep for the country.
The republican debates are a race to the bottom- they spout meaningless, mindless, soundbites wrapped in a vitriolic wrapper meant to appeal to baser instincts.

There isn't even one republican at the debates that can compare to ANY of the democratic nominees back in 08.

Politics aside, the entire democratic field wipes the floor with these republican baboons.

Tuesday, November 8, 2011

Who really owns the debt?


Spiegel


Time to put another republican lie to bed.
As you can see from this chart, the bulk of debt and deficit load belongs to Bush.

Take note, The Federal fiscal year runs from OCT 1 to Sept 30.
The day Obama took office, he was running on the Bush budget from Oct 1 2010 (the previous year), till Sept 20 2011. The debt accumulation during this first year in office belongs to the prior congress and president.

Further, it’s important to remember that a large portion of the debt Obama inherited can be blamed on the recession.

How much of this debt is due to the recession? It’s hard to quantify, but it’s a significant amount.
No matter who inherited the White House in 2009, the debt was going to go parabolic.

If you look at the debt with a critical eye, the facts are what matter, just the facts.
The deficit and the debt were going to explode during this massive recession.
You can’t rip the housing sector out of the economy without a colossal hit to collected tax revenues.

The recession led to an increase of unprofitable + bankrupt corporations + Job loss = decreased tax receipts.
Couple the above with an increase of unemployment benefits + assistance programs to help larger numbers of out of work citizens= a guaranteed explosion in the debt and the deficit.
Bake in lower consumer spending in 2009 and 2010 to the overall equation = less demand = fewer hires = even less tax revenues.

Blame Obama if you want- but you are being intellectually dishonest if you do. The debt and the deficit were going to increase no matter who was in charge.
The bottom line:
The bipartisan recession owns a very large part of this debt.

If the stimulus created or saved jobs, even temporarily- it cost less than the 800billion price tag.
There is way too much partisanship on issues in this day and age.
We need more logic, not hatred and biased taking points.

Thursday, November 3, 2011

Massive income inequity.

These graphics speak for themselves.



There are two simple ways to fix this attack on the middle class.
Tax the rich- do it right away!
Raise the Minimum wage!

Tuesday, November 1, 2011

Gov cuomo would rather tax the poor instead of taxing the millionaires.

Anyone that lives in New York City know that the mta is going to jack rates up by at least 30% in the next three years.
The mta needs serious funding for new operations and maintenance over the next few years.

Since the federal government, and the New York state government decided to cut back on funding for the MTA, the MTA had no choice but to raise rates 17% last year. Add that 17% hike with another 30% increase over the next two to three years and that is some serious pain for minimum wage workers.

Instead of taxing millionaires tax one single penny, the Gov is going to tax the poor and the middle class a pound.

These massive MTA hikes are nothing more than painful regressive taxes on the working poor and the middle class.

Cuomo got a lot of good will with his support via the gay marriage issue, but that doesn't forgive his plans on taxing the poor instead of the rich!

I said it before, and i will say it again: millionaires aren't going to leave their Manhattan penthouses and Brooklyn townhouses to move to the suburbs.

New York state and city have become more regressive due to Cuomo and Bloomberg. The Middle class in New York pay the highest state and local taxes as a percentage of their income in the entire nation!

The rich in NY were getting a good deal even with the millionaires tax in place, now they are getting a free ride- courtesy of Cuomo and Bloomberg.

Cuomo needs to be shamed for this disgusting move.