JTB
16th April 2011, 02:39
At the same time that the tax burden has shifted away from the wealthy, this same top income group has enjoyed massively disproportionate income gains. Between 1992 and 2007, a time in which income for the average household and top one percent grew 13 percent and 123 percent, respectively, the income for the top 400 households grew fully 399 percent.
The massive unemployment rate, in which more than 25 million U.S. workers are unemployed or underemployed, is cutting deep into America’s once vibrant middle class. But until corporations—which are sitting on $1.93 trillion in cash—start creating jobs, the U.S. income gap will only worsen
http://blog.aflcio.org/2011/04/14/taxes-go-down-for-the-wealthy-income-gap-worsens/
How much has that tax burden shifted? Consider that many large corporations not only manage to pay no taxes on their profits (http://thinkprogress.org/2011/04/13/tax-dodging-lobbying-congress/), but even receive tax incentives from the lawmakers whose re-election campaigns they fund.
Of course, we're told by the politicians that in order for those jobs to be created, we must do more of the same
We are being manipulated to give government handouts to the very same big banks and corporate scam artists that crashed our economy in the first place. We are told that what is good for big business is good for America. But these so-called “job creators” are only creating jobs for yacht manufacturers and maids. Check the math. The profits of our nation’s (and the world’s) largest corporations are rising, as are the salaries and bonuses paid to executives. Are they creating jobs? No.
http://www.alternet.org/economy/150535/the_budget_hoax:_it%27s_about_showering_wall_stree t_with_tax_dollars
This, my friends, is a corporatocracy
The upper 1 percent of Americans are now taking in nearly a quarter of the nation’s income every year. In terms of wealth rather than income, the top 1 percent control 40 percent. Their lot in life has improved considerably. Twenty-five years ago, the corresponding figures were 12 percent and 33 percent. One response might be to celebrate the ingenuity and drive that brought good fortune to these people, and to contend that a rising tide lifts all boats. That response would be misguided. While the top 1 percent have seen their incomes rise 18 percent over the past decade, those in the middle have actually seen their incomes fall.
http://www.vanityfair.com/society/features/2011/05/top-one-percent-201105
Perhaps that's why Americans now hold a less favourable view of capitalism today than the Chinese (http://www.globalpost.com/dispatches/globalpost-blogs/macro/the-death-capitalism)
Meanwhile, they continue to march us down the same path (http://www.seiu.org/2011/04/us-colombia-free-trade-agreement.php)
Think it over... (http://libcom.org/library/think-it-over-introduction-industrial-workers-world-tin-acott)
(http://libcom.org/library/think-it-over-introduction-industrial-workers-world-tin-acott)
The massive unemployment rate, in which more than 25 million U.S. workers are unemployed or underemployed, is cutting deep into America’s once vibrant middle class. But until corporations—which are sitting on $1.93 trillion in cash—start creating jobs, the U.S. income gap will only worsen
http://blog.aflcio.org/2011/04/14/taxes-go-down-for-the-wealthy-income-gap-worsens/
How much has that tax burden shifted? Consider that many large corporations not only manage to pay no taxes on their profits (http://thinkprogress.org/2011/04/13/tax-dodging-lobbying-congress/), but even receive tax incentives from the lawmakers whose re-election campaigns they fund.
Of course, we're told by the politicians that in order for those jobs to be created, we must do more of the same
We are being manipulated to give government handouts to the very same big banks and corporate scam artists that crashed our economy in the first place. We are told that what is good for big business is good for America. But these so-called “job creators” are only creating jobs for yacht manufacturers and maids. Check the math. The profits of our nation’s (and the world’s) largest corporations are rising, as are the salaries and bonuses paid to executives. Are they creating jobs? No.
http://www.alternet.org/economy/150535/the_budget_hoax:_it%27s_about_showering_wall_stree t_with_tax_dollars
This, my friends, is a corporatocracy
The upper 1 percent of Americans are now taking in nearly a quarter of the nation’s income every year. In terms of wealth rather than income, the top 1 percent control 40 percent. Their lot in life has improved considerably. Twenty-five years ago, the corresponding figures were 12 percent and 33 percent. One response might be to celebrate the ingenuity and drive that brought good fortune to these people, and to contend that a rising tide lifts all boats. That response would be misguided. While the top 1 percent have seen their incomes rise 18 percent over the past decade, those in the middle have actually seen their incomes fall.
http://www.vanityfair.com/society/features/2011/05/top-one-percent-201105
Perhaps that's why Americans now hold a less favourable view of capitalism today than the Chinese (http://www.globalpost.com/dispatches/globalpost-blogs/macro/the-death-capitalism)
Meanwhile, they continue to march us down the same path (http://www.seiu.org/2011/04/us-colombia-free-trade-agreement.php)
Think it over... (http://libcom.org/library/think-it-over-introduction-industrial-workers-world-tin-acott)
(http://libcom.org/library/think-it-over-introduction-industrial-workers-world-tin-acott)