POLITICAL PARTY POOPER

WE WON'T BE SAFE WHILE POLITICAL PARTIES ARE LEGAL

Posts Tagged ‘taxes’

Taxed Enough Already; The Real TEA Party Movement In Madison

Posted by politicalpartypooper on March 7, 2011

In the fall of 2008, and then again in early 2009 (TARP), Wall Street received a bailout.  Our elected officials lied to us.  They told us if we bailed these banks and insurance companies out, our economy would not collapse.  But that’s not where the lies started.  Our economy collapsed anyway, true, but more importantly, our elected officials told us repeatedly that this was a one-time tax, that taxpayers would take it on the chin this once and then our economy would bounce back and happy days would be here again and all the other fluff.

How was that a lie?

Unless you are a politician, and big-time banker, or wealthy, you’ve been paying for Wall Street’s “mistakes” for the last three years.  Yes, I know, it hasn’t been three years since we bailed them out.  However, when you factor in that the economy was already crashing before we bailed them out, and that sometime in March or April of 2008, it became clear that certain insurance firms and banks had made bad bets and were going to need massive life support, then it’s been three years.

How have we paid?  I’ve paid higher taxes.  Some of you have, too.  My State taxes went up in 2009 and 2010.  Due to budget shortfalls in my state, many companies “asked” their employees to take pay cuts.  “Asked”?  As if.  More like, “take it or leave it”.  Across the nation, the Middle Class has suffered repeatedly for Wall Street’s indiscretions; in essence, we’ve been taxed, re-taxed, and then taxed some more, just in case they didn’t get enough the first few times.  From jobs lost, to massive unemployment; from wages being cut to benefits lost; Americans have been taking it on the chin for three years, and there’s no end in sight.

How many of those banks and insurance companies that were bailed out saw a tax increase?  We know from the News that Bank of America had zero tax liability for 2010, so, nope, they didn’t have their taxes increased…but I’ll bet bonuses for their top earners were phenomenal.  How about major investors?  How about the guys who make almost ALL of their money through Capital Gains?  Did they see a tax increase?  As much as anyone, these traders and Mutual Fund managers were responsible for the get-rich-quick- or kill-the-American-economy-trying schemes that brought us down.  Did their taxes increase?  Ask your local Republican or Democratic representative about that.  You know the answer as well as I do.  How is it possible that a guy like Warren Buffet has a lower effective tax rate than his secretary?  Really?  Really???!!!!

Why is his secretary being taxed repeatedly for sins she didn’t commit?  Why are we?

Why are we taking it?  Taxed enough already?  TEA, anyone?  As in TEA party?

In 2010, the Tea party played an important role in the fight over health care reform.  But they are set against the folks in Madison who are feeling taxed enough already for the economic mess we were left with.  I’ve been taxed repeatedly for it.  Families have lost their livelihood, and if or when they go back to work, they go back earning much less than they did before.  The common American has given until he bled; there’s no more to give.  Yet Republicans marvel at recent polls which “suggest” that maybe protestors in Madison Wisconsin aren’t as “Liberal” as we thought they were.  Maybe many of them are just Taxed Enough Already.     Ω

 

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A Letter To Conservative Talk Radio Host, Charlie Sykes

Posted by politicalpartypooper on August 11, 2010

I sent the following email to Charlie Sykes, Talk Radio Host at WTMJ in Milwaukee, WI.  I’d explain the reason for it, but I think the email does a pretty good job of filling you in.  Anyway, here it is.  Let’s see what his response will be, if any.


Charlie,

I listened to your show today on the way to the airport from Two Rivers, WI.  Notably, the segment where you played the Union leader’s quotes for us regarding his belief that the deficit isn’t the main problem facing America, or even “a” problem..  Then you launched into a segment discussing the “bailout” of the public service sector, with it being paid for by tax increases on corporate America.

While I do not agree that the deficits aren’t a problem, I see them as a symptom of a much larger problem that we are still paying for.  On this issue, Charlie, you are out of touch with reality.  Your belief that these deficits are the results of massive out-of-control spending is false.  The proof?  The massive deficit increase came after the cause, not before it.  And what was that cause?  The Depression (let’s face it, if we’re not already in it, we’re headed there), the joblessness, and the meltdown of the housing sector and Wall Street.  Without all of the deregulation, or non-regulation of mortgage derivatives and Wall Street, do you really believe this recession would have been as catastrophic nationwide?  The facts are already in; this Depression was caused by the deep debt of Americans living beyond their means and above all, by the banks who gambled with American money like they were in Vegas.  Fannie and Freddie’s parts in this are well documented, but the bottom line is, the deficit is not a problem, it’s mostly a symptom, or the result of a previous cause.

Without the Housing Bubble and the following Wall Street meltdown, coupled with the tsunami of joblessness approaching, the so-called stimulus package that attempted to answer the economic collapse would not have been necessary.  Without that stimulus, our deficit would sit somewhere around $400-$500 Billion; not much different from the previous administration.  I’m not giving approval here to deficit spending, I’m just displaying the facts for you.  Yes, government spending needs to be reigned in, but the deficit is the result of a very specific set of events that have their origins even earlier than you suspect.

Here is where I answer your charge that raising taxes on corporations in the midst of a recession won’t create jobs.  My answer is, it depends on where those taxes are raised, and where the jobs are created.  There’s plenty of job creation going on right now, Charlie; it’s just all overseas, in places like China and India.  The argument against closing a tax loophole on American companies who ship jobs overseas is weak, Charlie.  In fact, you almost have to be a traitor to not understand why MOST of America wants those companies taxed higher.

I answered this problem on my blog, and you are welcome to go there and read it yourself.  I’ll leave a link at the end of this email for you.

But the point is, current law says that American companies who profit overseas still have to pay taxes on that profit…only they get to defer paying those taxes so long as that money stays out of America.  That’s the deferral part of it.  If that doesn’t sound like an incentive for American corporations to keep American money out of America to you, then you are probably being willfully ignorant.  The second part of the tax law states that American companies who earn profit overseas get a tax credit for paying foreign income taxes.  That part really gets me.  Are they American companies or not?  If they earn income ANYWHERE, it should be taxed, like the rest of us.  If I make a killing on a Foreign stock, Charlie, I get double taxed too, and I don’t whine about it.  But The Heritage Foundation just a few days ago wrote an article claiming that not only should they get a tax credit, but they should only pay taxes to the country where the income is earned.  In other words, they want the benefits of being an American company and all that goes with it, but they don’t want to pay the taxes for it.

They call it tax neutrality, and The Heritage Foundation claimed that most other nations are “moving toward it”, which is a lie.  No nation in this world operates under that system, and for very good reason.  If you eliminate the right of a nation to tax its corporations for profits earned overseas, you reduce the criteria for attracting industry in a nation to its lowest denominator; how cheap is the labor force?  That’s it.  That’s their goal.

All of that started occurring with NAFTA, and has proceeded with every free trade agreement since.  The tax deferral plus the tax credit that American companies are getting are giving them only one incentive; to move every job they can from here to overseas.  That’s why jobs aren’t coming back, Charlie.  Currently, of the corporations who hire labor overseas or outsource it, fully one-third of their workforce is foreign.  I don’t know what you call that, but I call it taking from the American Middle Class and giving it to a foreigner.  You seem to be against wealth redistribution in America.  I had no idea that you were all for spreading American wealth away to foreigners. The bill that was introduced to pay for those public sector “bailouts” only begins to fix that problem.

Go ahead and call it a tax increase. That’s what it is, and that’s what it should be.  I expect my American government to do very little, but the one thing I do expect them to do is to protect and fight for American jobs.  I expect that because I don’t want 30-40% unemployment, with half the nation living off of a safety net that raises your and my personal taxes to an unsustainable height.  You need to understand, Charlie, that the only corporations who will pay that “tax increase” are the very companies who shipped American jobs and American wealth overseas.  And the only way to FORCE them to bring some of those jobs back is apparently to tax the crap out of them, because no other reasonable request has been given attention.

Do I feel sorry for them?  Why should I?  It was their choice to ship jobs overseas and to do business there.  Why should my taxes go up so that these corporations don’t have to pay taxes on income earned overseas like I do?  The only jobs they are creating are overseas, anyway, so how does offering them a low tax rate or a tax credit loophole help America?

This is important, Charlie, and you need to understand it, before you continue to spout your Conservative “tax cuts create jobs” mantra.  Tax cuts for corporations that have, do, or will ship American jobs and wealth overseas DOES NOT CREATE JOBS HERE.  It only encourages them to ship more jobs and more of our wealth overseas.  That’s basic economics, Charlie.  You go where it’s cheapest to operate, and if the only consideration that is left is cheap labor, then you go wherever that is.  There’s far more to it than that, but I only have so much time.  Free Trade is about greed; it’s about gaming the system so that you can inflate profits for shareholders by cutting labor costs immensely.  While that’s good for shareholders, it’s bad for the American Middle Class who can’t partake in stock ownership if they don’t have jobs, which provide the money for that stock ownership. Currently, the American Middle Class is missing 15% of its jobs.  How are they supposed to get them back?  By giving tax cuts to the same companies that shipped their jobs overseas?

And Charlie, if they don’t have jobs, guess who pays for them?  You and me.  If you thought things were bad now, wait until real unemployment hits 30%.  They’ll take 50% of your wages, maybe even more.  And why?  Because you kept on allowing American corporations to ship American jobs and wealth overseas.  Pardon me, but I expect my government to fight for the American worker, not give his jobs and wealth to some foreign country where seventy-five cents an hour is the going rate.  Tell me, Charlie, how is any American worker supposed to compete with that?

That’s what this election should be about…American jobs and wealth.  That’s it. That’s where this whole mess started.  The deficit is here to stay, Charlie (and it will grow immensely) , until the jobs return from where they went.  If you don’t want to find yourself paying 50% or more in Federal taxes, then I suggest you start calling Paul Ryan and telling him to get those American companies who shipped our jobs overseas to bring them back.  Or, live with the consequences, but don’t whine on live radio about it when you could have made a difference.

Thank you,

Politicalpartypooper

Ω

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The Truth About Bush And Obama Taxes

Posted by politicalpartypooper on July 31, 2010

Take a look at this graphic from the Wall Street Journal, which displays the 2011 tax differences between keeping the Bush Tax Cuts and the Obama plan.

TAX CUTS FOR THE WEALTHY, OR MIDDLE CLASS?

You don’t need to be a math wizard to see where the Bush tax cuts have their largest impact.  Basically, any income below $300,000 sees an increase in taxes under the Bush plan, while incomes above $300,000 see an increase from the Obama plan.  Which do you prefer?  I would also point out that for incomes between $300,000 and $1,000,000 the Obama increase is 1.3%, not the 5 -10% that conservatives have been bandying about.  1.3%.  I’ll pay that.

One of my commenters made a good point about taxes, though.  There is no amount of taxes that I want to pay so long as our government is wasting them.  $9 Billion misplaced in Iraq, or shall I just come out and say it?  STOLEN.  That’s what you call it when money goes missing without a paper trail.

If a good group of honest business people got their hands on the actual budget, I’d bet we could cut 40% of it just by identifying waste and redundancy.  And maybe that’s what we ought to be doing.  It seems to me that the two parties have too many people to pay back, too many conflicted interests to be trusted with writing a budget.  No one in Washington really wants to be the bad guy; the responsible guy, the one who tells those extra ten thousand military consultants, “You’re no longer needed” or says to the bureaucrats running the one hundred fifty government oversight “programs” that we only need five of you.  If we could get our hands on the actual paperwork or computer files that show how each “program” works, how many are employed, and how much of it is reducndant…yeah, 40% cut to the budget instantly.     Ω

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Fox Conservative News Asks: Should People Who Pay No Taxes Be Allowed To Vote?

Posted by politicalpartypooper on July 28, 2010

Fox News thinks a good question is: With 47% of Americans not paying taxes, should those who don’t be allowed to vote?

Answer:  Well, Fox News and Conservatives, most of those not paying taxes are your conservatives, so I’ll bet when you find that answer out, you’ll change your tune, won’t you?  Nothing spells, “I shouldn’t be voting” like a hillbilly with a corncob pipe and two missing front teeth, who hasn’t held a job for ten years.

In essence, Conservatives, if people who paid no taxes weren’t allowed to vote, registered conservatives would go from 25% to about 10% of the population.

If you are so set on stealing American freedoms away from the middle class and the poor, maybe try imprisoning and enslaving everyone who earns less than say…$100,000.  Still, that would encompass about 9/10ths of your constituency, but we all know that they were never your constituency anyway, don’t we?

Here is a fact, and it is undeniable: Conservatives have exposed themselves yet again as the party most likely to go “Totalitarian”.  Congratulations.  You must be so proud.    Ω

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Charlie Sykes Calls Americans Who Earn Less Than $50k “Mooches”

Posted by politicalpartypooper on April 8, 2010

I was listening to the Charlie Sykes Show this morning on my way back from Appleton.  This would have been between, oh, 9:45 AM and 10:30 AM or so.  Charlie was griping about the 47% of Americans who paid no taxes last year, and if you know Charlie, you can, of course, understand that the more worked up he got about the issue, the more whiny he sounded.

During one segment of his show, he began taking calls, and the general theme was “Those damned losers aren’t paying any taxes!”  Charlie recited something about a family of four that makes less than $50k not paying taxes, and then jumps into calls, at moments calling people like that mooches, feeders at the Public Trough, and parasites. He then began complaining that America punishes the risk takers, while coddling the low-income earners.

According to Charlie Sykes and his callers, the only people in America who are hard workers are those earning enough to pay taxes.

And if you happen to whine for a living on national air waves, that makes you an expert about hard work, right  Charlie?

Atta Boy Charlie!

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