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The Rich Are Different From You and Me - They Pay Fewer Taxes


US Politics & Gov't  (tags: abuse, americans, bushadministration, congress, constitution, corruption, democrats, dishonesty, economy, elections, ethics, freedoms, Govtfearmongering, healthcare, housing, lies, media, military, obama, politics, propaganda, republicans, socialsecurity )

Kit
- 918 days ago - truth-out.org
Benjamin Franklin, who used his many talents to become a wealthy man, famously said that the only things certain in life are death and taxes.



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Kit B. (276)
Friday April 13, 2012, 3:03 pm
Photo: Occupy Together posters

Benjamin Franklin, who used his many talents to become a wealthy man, famously said that the only things certain in life are death and taxes. But if you're a corporate CEO in America today, even they can be put on the back burner - death held at bay by the best medical care money can buy and the latest in surgical and life extension techniques, taxes conveniently shunted aside courtesy of loopholes, overseas investment and governments that conveniently look the other way.

In a story headlined, "For Big Companies, Life Is Good," The Wall Street Journal reports that big American companies have emerged from the deepest recession since World War II more profitable than ever: flush with cash, less burdened by debt and with a greater share of the country's income. But, the paper notes, "Many of the 1.1 million jobs the big companies added since 2007 were outside the U.S. So, too, was much of the $1.2 trillion added to corporate treasuries."
****


By Michael Winship and Bill Moyers, Truthout | News Analysis


Please read full article.

 

Roger Garin-michaud (64)
Friday April 13, 2012, 3:11 pm
noted thanks !
 

Val R. (244)
Friday April 13, 2012, 3:48 pm
And the gap is larger every day and the rules too.
 

MmAwayAwhile M. (456)
Friday April 13, 2012, 3:54 pm
Oh Kit sooo true and SOOOO SAD!!! Thank you so much, but it just makes me Crankier!
 

Jae A. (323)
Friday April 13, 2012, 4:40 pm
...and here I was starting to beleive what the GOPers are saying that there are no differences between us and them and we should support their every desire at our expense. You sure popped my bubble on that thought with this post KIt :-)....while rasing my 'eeeeeeeeeeeeeeeeeer' button at the same time.

I read the full article and at this time..it's the first paragraph that said so much right away ..but the rest of it was needed for clearification/details as to just how much of a difference and why ! Great read all the way around and throughout the entire article Kit..thanks for the sharing...even if it did set of my 'help I've fallen and don't want to get back up just yet, so leave me alone world' alarm !
 

Jae A. (323)
Friday April 13, 2012, 4:53 pm
Ok, so I did decide to get back up....and somewhat quickly !

I've heard this phrase all my life..."You are either Rich or Poor'' , and I believe that it is being proved to be true with each passing day. The 'middle class' , what's left of it are and always have been in denial apparently..or so I think. It was the middle class that grow on a false economy and now...back to that ol saying for certain...sooner perhaps than later for too many people while the rich keep getting richer on the tax dollars of the rest ...what happens when all are either rich or poor who's going to keep paying the way for the richest I do wonder.....can they really get the last drops of blood from the poor ? They must think so...me thinketh..
 

Rose NoFWDSPLZ (276)
Saturday April 14, 2012, 2:26 am
A great post Kit
 

Marlene Dinkins (234)
Saturday April 14, 2012, 3:00 pm
interesting
 

Kit B. (276)
Saturday April 14, 2012, 3:11 pm

Yep, some are born with that silver spoon and have no real way of ever relating to the life lived by what was once the middle class and lower incomes. The gap has grown so large that the rich actually show their disgust with us by supporting the privatization of this country. They want, desire to have it all while we pay the dues. Time for a revolution my friends.
 

Bob G. (0)
Saturday April 14, 2012, 4:07 pm
I totally disagree. Everyone has the opportunity to use the tax code to their advantage. You all do too. Do you take a deduction for your property taxes and mortgage? If yes, then you are not paying your full taxes. Do you take advantage of a 401K? Same again. Many wealthy folks earn more in capital gains than in salary (Steve Jobs earned $1/yr in salary) which is taxed at a different rate than regular earnings. Everyone who wants to tax the wealthy within an inch of their lives do not realize two things:
1) If they took EVERY PENNY owned by every 1%'er, it would still not put a dent in our national debt. Taxing them at 30 or 50% would make less impact yet, and most likely keep them from investing in the growth of our business and environmental climate, which leads to:
2) Whether you believe it or not (I don't care), a large number of 1%'ers actually do invest in environmental causes (Like Randy Payter).
 

. (0)
Saturday April 14, 2012, 4:08 pm
Noted.
 

Diana Bair (7)
Saturday April 14, 2012, 5:10 pm
MONEY IS NOT THE ROOT OF ALL EVIL..........THE LOVE OF MONEY IS THE ROOT OF ALL EVIL!!!!!!!!. I do NOT love my money I need it for food,bills medication,rent. now the very RICH like romney LOVE their money as do the koch brothers and others we have been fighting just to SURVIVE all these months it seems the republicans are having a MAJOR affair with THEIR money, catering to the rich and BIG corps. wanting to take away social programs,etc. you GET it , "right". a vote for gop/teaparty is a vote of love of money. and not caring for the majority of americans, so VOTE your CIRCUMSTANCES, not CONTROL. Diana
 

Kit B. (276)
Saturday April 14, 2012, 5:36 pm

Bob G - The profile you are looking for could not be found = TROLL!

 

Max P. (6)
Sunday April 15, 2012, 4:50 am
Actually I thought Bob's comments were excellent. And by any measure the people with high incomes (rich by your definition) pay most of the federal income tax - even those who are only paying capital gains tax rates and not regular income taxes.
I am not one of these "rich" although I wish I were - and working hard to become one someday. But the deficit problems in this country are not caused by the "rich" or anyone else paying too little tax. It is purely the result of the government spending - and often wasting - too much.
The demonization of high acheiving people in this country is scary.
 

Kit B. (276)
Sunday April 15, 2012, 9:07 am

Strap on your seat beat because the demonizing of the extreme wealthy sucking the life blood from all of the rest of us. So enjoy your worship of the wealthy are not heroes or helpers for the rest of us. Earn their money from theft of our labors.
 

Kit B. (276)
Sunday April 15, 2012, 9:09 am

*** Strap on your seat beat because the demonizing of the extreme wealthy sucking the life blood from all of the rest of us, is just beginning.
 

Bob G. (0)
Sunday April 15, 2012, 12:49 pm
Thanks Max, at least someone understands the message. Asfar as trolling, I do not need to troll. Kit's response is exactly the reason that my profile is not populated. I do not need some youngster pasting my info all over the social networks just because I do not agree with their opinion. I am a charter member of Care2 from 1998. I own a series of environmentally resposible service organizations. I pay and treat my people extremely fairly. Instead of "earning my money from the theft of their labor", I am helping them become wealthy with me. So please try not to let the facts stand in the way of your opinion. Good Luck!
 

Kit B. (276)
Sunday April 15, 2012, 12:59 pm

Yes little troll, we all understand you obedient pedagogy and burning desire to be among the 1%, but it will not happen, so continue to bend over. Yes, little man you are most definitely a troll. Not profile - lots of excuses, still no profile = troll.
 

Lydia Weissmuller Price (181)
Sunday April 15, 2012, 2:11 pm
Andrew Jackson's and William Henry Harrison's wisdom and reality combined to create the catchphrase "The rich get richer and the poor get poorer."
 

Bob G. (0)
Sunday April 15, 2012, 2:37 pm
It is unfortunate that people in your situation only know personal attack and insult to try to make an argumemt. If that's all you have, you will have a very difficult time in life. Too bad. Good Luck!
 

KS Goh (0)
Monday April 16, 2012, 6:18 am
Thanks for the article.
 

Nancy L. (139)
Tuesday April 17, 2012, 4:54 pm
Excellent posts Bob and Max.
 
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