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Posts Tagged ‘Taxes’

Let’s assume that tariffs are raised in the near future to 35 percent on the goods US corporations export to the United States from their manufacturing facilities abroad. What would happen? Think Nike, Ford, United Technologies, Microsoft, Dell, Campbell’s Soups and thousands of other corporations.

The corporate news media will lie to you and say prices would go up, or the economy would tank. Totally wrong. Lies.

If select tariffs were enacted, the stock market bubble would deflate since corporate profits would decline. On the other hand, the Parasites of Wall Street are now so big that they are sucking the life out of the 99 percent. This means the stock markets are going to tank anyway, and sooner than you might expect. See The New Recession Is Knocking at the Door, and It’s Going to Be Worst Than the Last One–JohnHIvely.Wordpress.com.

The things that make up the wealth of nations are the things that are manufactured. The stock markets are a tool to redistribute income from those who actually produce the wealth of nations to those who produce nothing save for political and financial power. A vast decline in the stock markets would redistribute economic and political power back to those who produce the wealth of the United States.

The bond markets would tank too, if select tariffs were enacted. That means wealth inequality would decline in the USA. Currently, the top 1 percent own more wealth than the bottom 90 percent. Wealth are the things that you own, like houses, stocks, bonds, gold, cars, toys, smart phones, etc…. The video above was made years ago and the statistics the moderator uses are skewed even more to the ultrarich now than when the film was produced.

US manufacturing jobs would come home, probably by the millions. Wages would be forced up with so many jobs coming home. Demand for goods and services would accelerate and power the economy forward. The days of the bubble economies would be over. In other words, it would give life to the host that the Parasites of Wall Street, including all those hedge fund managers, have been sucking dry.

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Income inequality would decrease because more people would have decent paying jobs, while the rich would see their share of income decline. The rich now steal roughly 36 percent of all the income created every year in the United States, up from 8 percent in 1980. That’s precisely why the current economic expansion is the worst in modern US history in terms of job and wage growth, as well as growth in the Gross Domestic Product.

Our social safety nets, such as social security, medicare and medicaid, as well as our roads, schools, and other infrastructure would be financially strengthened.

The rich would have less money to corrupt government and both political parties. Let’s face it. Income and wealth inequality is produced by political inequality.

Foreign governments would not need to retaliate since the products of their nation’s businesses would not be subject to the tariffs.

The time has come for placing tariffs on the goods of US corporations which have exported jobs to China, Mexico and elsewhere, and then exported the goods those jobs produce to the USA.

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Oregon is ranked dead last among the fifty states in corporate taxes. That’s why Measure 97 is on the ballot come election day in November. The top federal corporate rate is 35 percent, yet many corporations making billions of dollars a year each pay little or no taxes. In many cases, corporations receive federal tax rebates by the billions on taxes they never paid. That means the effective tax rate for many major corporations is negative. This explains another reality; US corporations are the least taxed of any major industrialized nation, regardless of the myths and lies thrown out by the Fox Propaganda and other networks.

Corporations like Nike currently own such Oregon politicians as Wall Street Senator Ron Wyden, Wall Street congressional representatives Earl Blumenauer, Greg Walden, Suzanne Bonamici and Kurt Schrader. These representatives are always voting to redistribute income from the 99 to the 1 percent on behalf of big corporations. Corporations should be made to pay higher state taxes in Oregon in order to pay the people of Oregon for the use of their politicians.

When you total up all the taxes businesses really pay, and compare that amount to the total corporate profits generated in the state, liberal Oregon is dead last. That’s the best way to compare effective tax rates. Other rankings, like those published by the Tax Foundation, ignore the actual amount of taxes companies pay and focus instead on incidental factors.

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Most state rankings have a fair degree of variability, with states jostling around a bit in the rankings year to year. That Oregon has remained at the bottom of these rankings for the past three years is a strong sign of just how little corporations pay in taxes in the state, compared to the profits they make in the state.

While Oregon lets big corporations skate by and pay low minimum taxes, the state’s schools and services remain critically underfunded. If Oregon’s corporate tax collections were in line with the rest of the country, Oregon would have the revenue it needs to fund strong schools and services that will grow our economy and help hard-working Oregonians get ahead, protect their health, and retire with dignity.

Measure 97 is the solution to Oregon’s low corporate taxes. By focusing a tax increase only on large C corporations, those doing more than $25 million in Oregon sales, Measure 97 will raise significant revenues for the investments that grow Oregon’s economy, all while protecting smaller businesses that are already paying their fair share.

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The European Union has ordered Apple Incorporated to pay over $14.5 billion in taxes it has been ducking illegally in Ireland. If Apple is forced to pay this amount, it will reduce Apple’s profits. That may drive Apple’s share prices and dividends downward, which will disappoint investors, such as hedge funds, Wall Street Investment banks, individual millionaire and billionaire investors, etc….

The New York Times reports,

“Europe’s competition enforcer said that Apple’s illegal deals with the Irish government allowed the technology giant to pay virtually nothing on its European business in some years. The arrangements enabled Apple to funnel profit from two Irish subsidiaries to a “head office” with “no employees, no premises, no real activities,” the commission said.

By doing so, Apple paid only 50 euros in taxes for every million euros in profit during 2014. As part of its ruling, Europe demanded that Ireland recoup 10 years’ worth of back taxes, some 13 billion euros, or about $14.5 billion, plus interest.”

Apple is sitting on a pile of cash, $230+ billion, so the $14.5 billion it has avoided in taxes is a drop in the bucket.

“’U.S. companies are the grandmasters of tax avoidance,” said Edward D. Kleinbard, professor at the Gould School of Law at the University of Southern California and a former chief of staff to the congressional Joint Committee on Taxation.'”

Naturally, the US corporate propaganda machine, such as the National Review, has viciously attacked the EU ruling. Apparently, the editors think only the little guys should pay taxes, and that US corporations should get a free ride in using the variety of infrastructure of Ireland and the rest of Europe that the 99 percent of Ireland pays for. Ireland’s government plans to appeal the EU’s ruling because it is claimed Apple owes much more in taxes.

In other words, the National Review supports redistributing income from the 99 to the 1 percent, and that rich should not pay any taxes.

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The corporate news media does not operate independently, especially of the influence of its advertisers, and its editors, and that is why they prefer to keep you ignorant of certain facts. For example, when China manipulates its currency, this increases the profits of US corporations manufacturing there, and exporting those products to the USA. See https://johnhively.wordpress.com/2016/02/12/the-trans-pacific-partnership-the-op-ed-the-liberal-and-conservative-corporate-media-doesnt-want-you-to-see/

That’s precisely why US government and Federal Reserve officials castigate the Chinese government for doing this, but then do absolutely nothing to counteract it. To do so would cut into the profits of Nike, Microsoft, Dell, Campbell’s Soups, and thousands of other US corporations making stuff in China for export to the USA. This would make thousands of CEO’s and rich investors angry enough to cut off campaign contributions to Republican and Democratic Parties and their politicians. It would also send stock prices tumbling big time. Sweet lobbying jobs after politicians leave office would end. Corporate paid vacations called fact finding missions would disappear for politicians, as would money under the table, and those sweet speeches at $200,000+ a pop would vanish.

The Oregon Democratic Primary is coming up in a couple weeks, and Bernie Sanders is leading in the polls here. Quite naturally, the Oregonian newspaper is blitzing its readers with anti-Sanders messages in the form of editorials and news stories. The editors are doing everything they can to shift the election to the Wall Street candidate.

There has not been one positive or even neutral story about Sanders in the newspaper in the last two months, which is most likely a symptom of why the Oregonian has been suffering from a continuously declining readership. The newspaper is just a ghost of what it once was because more and more Oregon citizens realize the newspaper is mostly propaganda for the 1 percent along with occasional legitimate news stories.

Over thirty-five million jobs have been exported from the United States over the last twenty-five years. The Oregonian editors, along with all other corporate news outlets, have been careful to not report this loss of jobs and the tax dollars that once came with them when they were still here. The tax dollars lost equal nearly a trillion dollars a year.

Everything that Bernie wants to finance; free college tuition, medicare for all, and more, would be easily financed if those jobs were still here, rather than in China, Vietnam and elsewhere.

Bernie Sanders is against those disastrous trade policies which have paved the legal road for exporting jobs overseas, and which has paved the legal road for creating jobs over there, instead of over here. So, quite naturally, the editors of the Oregonian are for them, and against Bernie. It would be in the interest of the vast majority of US citizens to put an end to these international income and political power redistribution scams, falsely marketed by the Oregonian editors and other supporters as international trade agreements.

But it would not be in the interests of the Oregonian advertisers and their rich investors to put an end to them. It also would force the Oregonian editors to be responsible and objective journalists. However, challenging cherished beliefs with critical thinking, logic, and facts is among the last thing many people want to do. That’s precisely why the Oregonian editors support the Wall Street candidate; Hillary Rodham Clinton.

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greg pallesen blue herron probably

Here’s the story.

Wall Street Senator Ron Wyden was elected to represent the people of Oregon in the US senate. Instead, the senator represents Wall Street, along with major out-of-state corporations. This is why Wyden is one of the major tools the rich use in the US senate in their war against the middle class.

That’s precisely why Wyden always votes to redistribute income from the 99 to the 1 percent via legislatively approved policies falsely marketed as free trade agreements. The latest Wyden income redistribution scam is called the Trans Pacific Partnership (TPP), the largest income redistribution scam from the 99 to the 1 percent in US history.

This month, thanks to Wyden’s votes in the senate, the Newberg Oregon Paper Mill will be closing, resulting in the loss of 250 family-wage jobs and the largest tax source for the Newberg community. In all likelihood, in the next few months most the paper mill closure will cause a domino effect, resulting in the loss of several times as many jobs as those that are lost at the mill, as families are no longer able to afford to go to restaurants, get the car fixed and more, hurting local businesses that these family-wage union jobs support. Offshoring in the private sector also means less tax revenue in the public sector, leading to budget deficits, furloughs and layoffs of public employees, as well as less money for schools, roads, libraries, fire-departments and other critical public services. Wall Street Senator Ron Wyden is directly responsible for this situation through his votes on international income redistribution votes in the US congress.

All products manufactured at the Newberg mill were 100% recycled paper products made from recycled paper and wood gathered from the greater Portland, Oregon area. This mill was one of the last paper recycling facilities in Oregon and the recycled paper and wood once processed there will now likely be shipped and processed in countries with weak environmental policies.

The difference between the old higher US wages and the new lower third world wages will go straight into the already fat pockets of the super rich via higher corporate profits, rising share prices and surging dividends, thanks to Wyden’s votes. And also thanks to Wyden, because the 1 percent are now stealing over 37 percent of all the income in the US, compared to 21 percent in 2008, and 8 percent back in 1980.

What could be worse than this?

The worse-than-NAFTA TPP threatens to offshore more Oregon and US jobs by the millions, further driving down wages and further harming the environment. Wyden has carefully rammed this disaster for Oregonians through the US senate, although most Oregonians oppose it.

Enough is enough. Click here to urge your Member of Congress to vote against the TPP and click here to RSVP for the carpool from Portland to the December 8th rally in Newberg against the TPP.

Join Oregon Fair Trade and other organizations, people and trade-displaced mill workers on Tuesday, December 8th — the anniversary of NAFTA (an income redistribution scam voted for by then Wall Street Congressman Ron Wyden)— to voice Oregon’s opposition to the worse-than-NAFTA income redistribution scam falsely marketed as the Trans-Pacific Partnership (TPP) Free Trade Agreement.

Tues, December 8th:

11:00 AM – Photo op outside closing Newberg paper mill

11:30 AM – Speaker’s panel with trade displaced mill workers

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The principal argument of the proponents of the Trans-Pacific Partnership international income and political power redistribution agreement (TPP) is that it will create jobs because new markets for US products will be opened up overseas. Nothing could be further from the truth.

Wall Street Senator Ron Wyden repeats this lie over and over again. Worse yet, Wall Street’s senator knows it’s a lie.

Twelve nations are nearly finished with negotiating the agreement. The USA has only a few miniscule trade impediments with these nations, which includes Japan, Mexico, Vietnam, and Canada. Vietnam has tariff rates of 15 percent or less depending on the goods shipped from the United States, and this is the highest rate among the TPP nations. Most have less than 5 percent tariffs, and in most cases the average tariff is 0 to 2 percent. In other words, currently, there is not a whole lot of impediments for shipping goods to the member states of the TPP. This means the number of US jobs created by the agreement will be miniscule compared to the number of US jobs the agreement will destroy.

It doesn’t take half a brain to figure out that trade is not going to increase much at all between the twelve nations. And this is why the TPP is mostly about things other than trade. The TPP has been negotiated to destroy the middle class, and redistribute the political power and income of the 99 to the 1 percent. Here’s how the TPP battle plan will work.

* TPP will give incentives for US corporations to export millions of US jobs. The Federal Reserve estimates that 28 million US jobs were exported between 1990 and 2010. Wyden wants to increase this number.

* TPP will increase US income and wealth inequality. The 1 percent have already taken 95 percent of all income growth in the United States since 2009. Currently, the 1 percent are stealing 36+ percent of all income produced in the USA, compared to only 8 percent in 1980. International trade scams and other federal legislation have brought inequality about. For example, when the above jobs were exported, the difference between the old higher US wages and the new lower wages will go straight into the pockets of the 1 percent via higher corporate profits, rising dividends and surging share prices. Wyden is a principle architect of this inequality.

* Those lost jobs will no longer be paying the taxes for our infrastructure, K-12 education, higher education (tuition and fees will go up), social safety nets, schools, fire, police, public transportation, social security taxes, but those lost jobs will push the stock markets higher.

* TPP will effectively eliminate your voting rights on local and state issues since it will unconstitutionally grant investors of the 0.01 percent special privileges to challenge labeling and health and safety local laws and regulations of the 99 percent, which most people call voter suppression, but in this case it should be called voter elimination.

* TPP will eliminate millions of jobs in Latin America, which will drive millions of more people illegally into the United States and depress wages here.

Yes, believe it or not, Wall Street Senator Ron Wyden supports this massive income and political power redistribution scam, and it’s not because the TPP will create a lot of export jobs, and he’s not the dummy he pretends to be in public. He know it won’t create jobs. And he knows the TPP will mainly destroy US jobs.

The senator also supports Fast Track Authority.

Congress can give the president fast track authority. Under this legislation, when it comes to the TPP, debate will be limited in the senate so as to not arouse the citizens of the United States. There can only be an up or down vote with no amendments to the treaty, and no senate filibuster’s will be allowed.

That’s precisely why the senator of Wall Street loves fast track. However, it won’t work this time. The senator is supposed to represent the people of Oregon, and those people have begun to organize like never before. They’re mainly organizing to oust him from his senate seat if he doesn’t vote against fast track and the TPP.

Last night, twenty-seven ministers from a variety of churches gathered together to oppose Wyden next election year by laying the groundwork for a grassroots campaign should the senator of Wall Street vote for the guys that ruined the economy again. This group has tripled in size in only a few weeks. They’ve reached out to teachers, the Sierra Club, the AFL-CIO, SEIU, and others. Their ranks grow.

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When the government increases taxes on the rich, they have less money to purchase politicians, which means government can pretty much follow policies the majority of voters want, such as creating jobs by spurring the demand for goods and services. Minnesota’s next-door-neighbor is Wisconsin. Governor Scott Walker slashed the state’s budget and programs in order to make room for millions of dollars of tax cuts for mostly out-of-state billionaires and millionaires. The result was a decrease in demand for goods and services and nearly last in the nation in job creation.

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