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Monday, April 30, 2012

Why Does Everyone, Me Included, Keep Shouting, Jobs, Jobs, Jobs................But Nobody Does Anything About It???????

We have talked here about our growing "Two Tier" economy and the income tax madness that is helping create it.  However, Michael (the guy who writes The Economic Collapse), makes the excellent point that if you don't have a job, it is damn hard to get into the 1%.  He also has some very interesting numbers about how the government is playing an increasing role in the lives of average Americans.  Here is part of his latest rant.

 
In a previous article, I detailed how many of the largest and most profitable corporations in America get away with paying absolutely nothing in taxes.

There is something very wrong with that.

Our income tax system should be abolished altogether, but if we do have to pay income taxes, then it is fundamentally unfair for some people and businesses to be able to pay little or nothing while the rest of us get absolutely obliterated by taxes.

But if you try to say that to many on the right, they will look at you in horror.
The other day, there was a New York Times article that detailed the extreme measures that Apple takes to avoid paying taxes.  It turns out that Apple sets up shell offices all over the globe in order to evade taxation....
As it has in Nevada, Apple has created subsidiaries in low-tax places like Ireland, the Netherlands, Luxembourg and the British Virgin Islands — some little more than a letterbox or an anonymous office — that help cut the taxes it pays around the world.
That same article talked about how Apple has become a model which hundreds of other companies have followed.  To giant corporations such as Apple, tax evasion has become an art form....
Apple, for instance, was among the first tech companies to designate overseas salespeople in high-tax countries in a manner that allowed them to sell on behalf of low-tax subsidiaries on other continents, sidestepping income taxes, according to former executives. Apple was a pioneer of an accounting technique known as the “Double Irish With a Dutch Sandwich,” which reduces taxes by routing profits through Irish subsidiaries and the Netherlands and then to the Caribbean. Today, that tactic is used by hundreds of other corporations — some of which directly imitated Apple’s methods, say accountants at those companies.
So what is the solution to all of this?

Raising income taxes won't work too well because the tax lawyers are always several steps ahead of our politicians.

The truth is that when taxes get raised it is always the middle class that gets absolutely clobbered and the wealthy always find more ways to reduce their exposure.

Just take a look at Mitt Romney.  He made more than 42 million dollars in 2010 and yet Romney had an effective tax rate of only 14 percent.

If I could find a way to have an effective tax rate of only 14 percent I would be jumping up and down for joy, and so would millions of other Americans.

Our tax system is deeply, deeply broken and needs to be thrown into the trash can.
Abandoning the current tax system would not solve all of our problems, but it would be a start.

Unfortunately, neither political party is willing to even consider this.

Instead, the Democrats want to raise taxes a little bit and the Republicans want to lower taxes a little bit.
But neither alternative will do much of anything to solve any of the real problems we are facing.

Our economy is dying and it is not producing nearly enough jobs for all of us.  When Barack Obama took office, the number of "long-term unemployed workers" in America was 2.6 million.  Today, it is 5.3 million.
At this point, an astounding 53 percent of all college graduates under the age of 25 are either unemployed or underemployed.

So where is all of the "change" that Obama promised?

Things just keep getting worse.

Since Obama has been in the White House, 14 million more Americans have gone on food stamps, and more than 25 percent of all American children are enrolled in the program today.
How will class warfare help those people?

Will blaming the wealthy make things better for them?

They are already receiving government handouts.

Will increasing those handouts a little bit more fundamentally change their lives for the better?
Of course not.

What those people need are good jobs.

But instead, both the Democrats and the Republicans continue to pursue the same job killing policies that have been destroying American jobs for decades.

Without good jobs, the number of Americans dependent on the government is going to continue to grow.
In a previous article, I detailed the explosive growth of social welfare benefits that we have seen under both Republicans and Democrats....
Back in 1960, social welfare benefits made up approximately 10 percent of all salaries and wages.  In the year 2000, social welfare benefits made up approximately 21 percent of all salaries and wages.  Today, social welfare benefits make up approximately 35 percent of all salaries and wages.
The goal should not be to rape the rich and give out even more social welfare benefits.

Instead, the goal should be to develop an economy that creates good jobs.

We need have an economy that empowers individuals and small businesses.

Instead, we have an economy dominated by big government and big corporations.

We have an economy that funnels the vast majority of the economic rewards to a tiny elite while most of the rest of us struggle.

Just consider the following statistics....
*Back in the 1970s, the top 1 percent of all income earners in the United States brought in about 8 percent of all income.  Today, they bring in about 21 percent of all income.
*The following is how income gains in the U.S. were distributed during 2010....
-37 percent of all income gains went to the top 0.01 percent of all income earners
-56 percent of all income gains went to the rest of the top 1 percent
-7 percent of all income gains went to the bottom 99 percent
*In America today, the wealthiest one percent of all Americans have a greater net worth than the bottom 90 percent combined.

*According to Forbes, the 400 wealthiest Americans have more wealth than the bottom 150 million Americans combined.

So what is the solution to that problem?

Is it to attack the rich and take away all their money and give more government handouts to the poor?

Of course not.

Rather, we need to change the rules of the game so that individuals and small businesses are empowered to succeed.

We need to decentralize economic power and dramatically reduce the undue influence that big government and giant corporations have over our economic system.

We need to create an environment where almost anyone that has a good idea and that is willing to work hard can succeed.

But instead of focusing on real solutions like shutting down the Federal Reserve, converting to debt-free currency, eliminating the income tax, shutting down the IRS, massively reducing the size of government and getting rid of thousands upon thousands of unneeded regulations, the mainstream media and our politicians are going to continue to try to get Americans to blame one another for our problems.
The efforts to divide America are working, and hatred is growing to unprecedented levels in this country.
Eventually this will lead to mass rioting in our major cities and that will make our problems far worse.
Hatred and division are not going to bring us a better future.

They are only going to destroy us from within.

We don't need hate.

What we need is more love and more solutions.

Unfortunately, our leaders are leading us down a very dark path, and we are heading for a future that is going to be a complete mess.

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