aside Ben Cohen Of Ben and Jerry’s / TrueMajority.org Explains US Economy With Oreo Cookie

 

Listen to this video to get a real picture of the US economy. It is no wonder that so many peoples are so angry about their economic situation that they were willing to take a chance by voting for an outsider like Donald  Trump to become the US president in 2016. They felt they had nothing to lose.

This video also explains why conservative republicans are hard at work to create an alternative reality based on “fake news” because they wouldn’t dare share a dose of reality with the average Joe workers. Instead they provide the incentive for hard working Americans to blame “the other” by filling in the blank with names like illegal immigrants for us to use to explain our less than rosy economic conditions.

I recently saw a tweet where the author admitted to being White and unemployed. I responded that I empathized, but reminded him that a lot of folks of color also suffer unemployment, and according to the data, more often than their White brothers and sisters.

The sad fact is that blaming others and making excuses keeps us from facing what’s real so that “we the people” can become part of an active majority to fix things so that all of us are more fairly treated economically. We don’t have to sit back while the republicans in the White House and the US Congress pass a tax cut bill that mostly rewards very, very rich individuals and large corporations at the expense of the rest of us while they like Senator Chuck Grassley, blame us for not being rich.

Many of these huge profitable corporations like International Paper and General Electric have been paying -0- dollars towards the IRS federal taxes.

Here are Some Key Findings from a 3/9/17 ITEP study that evaluated profitable companies only for an eight year period  from 2008-2015:

  • “As a group, the 258 corporations paid an effective federal income tax rate of 21.2 percent over the eight-year period, slightly over half the statutory 35 percent tax rate.”
  • “Eighteen of the corporations, including General Electric, International Paper, Priceline.com and PG&E, paid no federal income tax at all over the eight-year period. A fifth of the corporations (48) paid an effective tax rate of less than 10 percent over that period.”
  • “Of those corporations in our sample with significant offshore profits, more than half paid higher corporate tax rates to foreign governments where they operate than they paid in the United States on their U.S. profits.”

“These findings refute the prevailing view inside the Beltway that America’s corporate income tax is more burdensome than the corporate income taxes levied by other countries, and that this purported (but false) excess burden somehow makes the U.S. “uncompetitive.”

Editorial cartoon on wages

Other Findings:

  • “One hundred of the 258 companies (39 percent of them) paid zero or less in federal income taxes in at least one year from 2008 to 2015.”
  • “The sectors with the lowest effective corporate tax rates over the eight-year period were Utilities, Gas and Electric (3.1 percent), Industrial Machinery (11.4 percent), Telecommunications (11.5 percent), Oil, Gas, and Pipelines (11.6 percent), and Internet Services and Retailing (15.6 percent). Each of these industries paid, as a group, less than half the statutory 35 percent tax rate over this eight-year period.”

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  • “The tax breaks claimed by these companies are highly concentrated in the hands of a few very large corporations. Just 25 companies claimed $286 billion in tax breaks over the eight years between 2008 and 2015. That’s more than half the $527 billion in tax subsidies claimed by all of the 258 companies in our sample.”
  • “Five companies — AT&T, Wells Fargo, J.P. Morgan Chase, Verizon, and IBM — enjoyed more than $130 billion in tax breaks during the eight-year period.”

In short, the large profitable corporations are sitting on so much cash that they could direct NOW towards increasing their front-line workers wages which have remained stagnant for at least 3 decades. Giving these entities more monies in the form of tax cuts won’t change this.02162017TrumpNoClothes

Blaming others won’t change our less than rosy economic conditions, either. Instead if we join together, our numbers create a force to be reckoned with that gives us average Joe workers tremendous power. This is what those on top would do just about anything to prevent. We do not begrudge the success of the rich but they have to learn that we cannot be ignored and easily deflected into blaming our fellow brothers and sisters who are traveling on the same boat, paddling upstream and getting nowhere They are going to have to share the spoils.

It is time for us who are part of the resistance to contact our US Congress representatives to stop this tax scam in its tracks before Christmas. One phone number is 877-650-0039.

Find Your Representative · House.gov – U.S. House of RepresentativesRelated image

TO FAX:  Resistbot will do it all for you. Text “RESIST” to 50409 or message Resistbot on Facebook and it will walk you through the steps to fax your Senator and will tell you when your fax has been delivered.

The main US Senate phone line 202-225-3121 (202-224-3121) or  YOU CAN FIND PHONE NUMBERS FOR EVERY SENATOR HERE. or U.S. Senate: Senators of the 115th Congress.

2 comments

  1. Reblogged this on Rcooley123's Blog and commented:
    Excellent essay that lays out some of the facts regarding our economy, taxing and spending used by our government to create the enormous economic inequality faced by the populace in this nature. Contradicts the constant narrative of the right wing politicians who successfully passed the most recent “tax reform” signed by President Trump in December 2017. Those hoping to retake our government from those determined to improve the lot of the wealthiest among us – both in terms of individual wealth and corporate profits – while making life more difficult for the rest of humanity need to start effectively spreading this message.

    Life in this country, and the world as a whole, does not need to remain so divisive and based on such enormous economic inequality. We need to pay less attention to the lies spread by the powerful in order to keep us from seeing that we have much more in common with each other than we do with them. Common sense, math, accurate assessment of where all the wealth is going, who creates it and how it gets stolen to benefit the few requires stopping the incessant blaming of the victims and turning the tables on the true perpetrators of the inexcusable inequality we see before us now. This inequality of income, wealth and opportunity is a construct forced upon us, not a natural outgrowth of personal characteristics by virtue of birth or “laziness”. Continuing to let government to coddle the wealthy while ignoring the effects of ignoring, or purposely oppressing the less privileged and thwarting any attempts they make at improving their individual or class interests will only make matters worse in the long run. We need to replace these representatives with people who better identify and seek to bring about governmental change to improve all our lives while simultaneously treating the planet in a manner more conducive to the long term interests of humankind and nature as a whole. – RJC

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    • Dear RJC,

      Thanks a million for your gracious feed back and for sharing my thoughts via your reblog.

      I am convinced that if we who are not in the top 20% of the income bracket , join together, we can make life more equitable for all of us. No one begrudges anyone their wealth but we who work for corporations awash in cash/ profits should expect to share in the spoils. We are the ones working so that the fat cats can reap these rewards.

      What we don’t want to see are people working 2 to three jobs just to get by and to where some of these hard working peoples still qualify for assistance. This picture is a lot different from the welfare queen myth.

      Hugs, Gronda

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