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The 1% Is Organized and Coming for Its Tax Cuts. Is the Resistance Ready?


#61

And the war on the 99% continues.


#62

That’s a damnable lie. What’s the gas tax? What’s the sales tax? What’s the alcohol tax, the marijuana tax or the other myriad hidden taxes that " nobody " pays? There are lots of hidden tax write-offs , built into so much of our tax law. What do the working class and working poor get to write-off? Mortgage interest payments, remodelling ( write offs ) home improvements, leased vehicle write-offs, etc.? Not so much! And, accelerated equipment depreciation write-downs…for Corps. Mileage write-offs…? Etc.:
advertising promotions, cdb ( cost of doing business ) tax write-offs, llc write-offs and on, and on, it goes.The tax code is an old LA phonebook thick, full of exemptions for the " job creators " who are still sending their best work offshore. The system is indeed rigged, the elites own all the rigging equipment, too. And, write that off, too. So it goes…


#63

Gas taxes and sales taxes are actually fair. Everyone pays them equAlly. And if you have no deductions you get the … wait for it… standard deduction (which was put in specifically to help people without other deductions).


#64

And you believe that? Just were did you come from???


#65

I don’t “believe” anything. Check it out for yourself.


#66

Sales taxes are very regressive. A rich man ($200K) buys a car for his daughter, for 15K. He pays a sales tax of 10%, but buys the car for cash. Licence, title, registation, insurance, etc. All that adds up to 17,6 to drive away. A working women buys the same car and finances it, putting $1000 down, pays all the same fees and finances the balance, including the sales tax. She’s taxed twice because the sales tax is attached to her amount financed. At 6%, with no write off for the interest paid to the lender, she’s paying an additional amount to the lender on her sales tax. Without a write-off of those types of interest charges, she’s paying a hidden sales tax of about $700-900, or more, depending on the term of the loan. Or, it’s the state cost-shifting profit ( the interest ) to the lending institution. Now, that’s regressive as hell and is not deductible, under your standard deduction, because you get that for buying nothing at all.


#67

Join us at DraftBernie.org if you haven’t done it yet. We need to get to the bottom of this mess. We need real change, not Obama change


#68

So raise the minimum wage to a livable wage $18hr. and more people will be paying taxes.


#69

Is such an absurd comment worth responding to-and just understand it is the wealthy who have had the power to influence real change----but the only thing that motivates the wealthy in the US today is GREED! Mr. Potter has won and America has become Pottersville.


#70

Thank you Jimmy Dore for your comments on the 100b increase on the “defense” budget voted on in the house and supported by democrats-----in a few weeks these aholes will be voting on raising the debt ceiling and we will hear all the BS about needed cuts to programs that really help people. This "defense"budget should be cut in half and they still would have a bloated budget.


#71

NWow, thank you narureboy for that web site. I will explore it thoroughly before recommending it, but this is the way to re-establish Democracy in an age of elite capital attack… I’m convinced. A broad, secure web presence, protected against Deep government interference, will allow The People to gather and Throw The Bums Out! If this site is for real, then it will serve as a model for the people’s interests worldwide. Many Thanks; and “Great Catch”.


#72

Almost all regulation totally unenforced!


#73

That may be true, but it isn’t a reason to give them additional tax breaks. Seeing as so few people hold more wealth than the bottom 60% of Americans, it’s clear to me they aren’t paying enough taxes–not by a long shot.
From the Institute for Policy Studies: Billionaire Bonanza: The Forbes 400 and the Rest of Us


#74

You must search the internet for these rude nasty tiolet mouths as I never encountered or heard them on TV but there are always a few bad apples and the media was determined as was NYT to brand Bernie as socialist not a democratic socialists and brand his followers. I ran into nasty Clinton supporters also. Here in Oregon and within his campaign they were hard workers and respected the process but loud mouths came out to these protests also. We’re they plants?


#75

Could you imagine in today;s prices (of course there is no inflation? ha! ha!) a family of four living off $30,000 a year? They are one landlord away from being homeless.


#76

How do you have time to post here? oh you are a paid poster. Wages have stagnated for the past 30 years and is why are middle class isn’t what it used to be.

and on your 1% pay 50% of the taxes which is true but they pay the same percentage of their wages well sometimes.

Our country was founded and fought for to get away from debtor prisons, serfdom and royals. Now we have our own bunch of royals that have bought off our government so they can’t get loopholes and beneficial tax treatment. The reason for the 90% tax was very simply put in there so our government would not let there be royalty in this country. All these corporations and people made good money and grew their companies and it was us consumers and workers that did that.
Us taxpayers also created what was once the greatest country in the world with topnotch infrastructure which has declined in the last 40 years, we haven’t even had the money to maintain it.


#77

Inflation is very low


#78

This isn’t our first rodeo with the robber barons, there was the gilded age of late 1800’s thru the 20’s until the crash of 1929 created by robber barons and banksters and then came FDR and the new deal which created prosperity for all for 40 years and yes WWII helped by putting everyone to work and FDR did not allow the war profiteers.

This is not just a US problem this is a world problem as all these .01 % want to rule the world raping and pillaging country after country and now there back to the good old US of A. Looking toward our national parks and forests.

Most of these industries should of been put to pasture 30 years ago as they had served their purpose and provided us with a better life just like the horse did for 100 years. But they won’t let go and they did not start innovating their business as they were hungrily taking in all the profits and not doing the research and development needed to keep them relevant.

But now we have a party that is helping them stay afloat but killing the planet.


#79

If the change means starting another losing third party, count me out. Its the best way for the Kochs to divide and conquer.


#80

agreed! the time is approaching when we will need to simply take away anything in excess of some arbitrary number e.g. 10 million per family member with a maximum of say 100 million.