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Fear, Uncertainty, and Doubt: Big Business's Tax Code Strategy

Fear, Uncertainty, and Doubt: Big Business's Tax Code Strategy | AUSTERITY & OPPRESSION SUPPORTERS  VS THE PROGRESSION Of The REST OF US | Scoop.it

Today's New York Times article titled "Major Companies Push the Limits of a Tax Break" strikes me as a microcosm of the challenges with the federal tax code.

It also reveals something else. It's a marketing strategy called FUD - Fear, Uncertainty, and Doubt - and it's being used by the rich and powerful to protect tax codes which benefit them by making the rest of us afraid to support efforts to change or eliminate those tax loopholes.

The article describes a 90-year old tax code modification supposedly meant to be helpful to farmers and small businesses. When discussing tax codes as "helpful" it's important to always remember that that help comes with a price tag. That "help" means that the government isn't taxing a transaction. That, of course, means less tax revenues into the federal treasury and, like it or not, we will not see our federal debt lowered and our federal budget come closer to balance unless both sides of the ledger - expenses AND revenues - are tackled.

Don't get me wrong. I don't oppose every tax code meant to help businesses, especially small businesses. What I vehemently oppose is what seems to have happened here. It appears from this article that this incentive originally intended to benefit farmers and small businesses was eventually expanded and perverted into something that the likes of JPMorgan, Wells Fargo, and GE may have abused.

How does that happen and why aren't we capable of doing something about it?

Perhaps this is one possible answer.

Whenever the topic turns to the economy, business, and taxation, we seem to allow the rich and powerful to control the discussion and to set the framework for what to do next. We allow the to do this by employing a strategy those of us in the sales and marketing profession know as FUD - Fear, Uncertainty, and Doubt. Here's how it works.

We allow them to manipulate and control us by controlling the discussion mostly through fear and with heavy doses of uncertainty and doubt. Too many of us are easily (and to some degree, justifiably) frightened by the threat of the loss of the most basic thing needed to survive in a modern society; namely and for starters, a job which pays enough (but not always enough) just for food and shelter.

The things that used to signal the arrival into the middle class - higher education, vacations, and even a little free time to pursue interests outside of two or three part-time jobs - are now available and affordable to fewer and fewer people. All this at a time when taxes are at historic lows, regulation on businesses of all types has been progressively shredded over the last 30 years, the wealth gap is wider than it's been since the Gilded Age, and the federal debt keeps ballooning.

When it comes to taxes, the rich and powerful use FUD to make the same argument they always make: the beneficial tax treatment of these "...asset exchanges spur investment and help create jobs." They frame the discussion about raising taxes and doing away with loopholes by saying that if they are taken away there will be less investment and fewer jobs. My response to that argument is pretty consistently this: if that's true then why is unemployment still just under 8% and why isn't the economy growing faster? You rich and powerful people are getting what you want and it's still not enough?

This is overly simplistic, I know, but I still believe it's a valid stance to take in this argument. It's still a legitimate way to tear down and take back the framing they want to use when it comes to the tax code. If tax breaks like this are so great, then why are we in the terrible state we're in and why aren't the rich and powerful investing more into a recovery? 

And when it comes to changing the tax code as a means for helping to reverse the federal government's mounting debt, the discussion must be first and foremost about the sort of code changes like this one that benefit GE and Wells Fargo long before even thinking about code changes such as eliminating mortgage interest deductions.

It's far past the time to end the corporate welfare system. That must begin with changes to the corporate tax codes. They must pay more, not less. Corporations have already proven they'll adapt and, besides, how much more is left for them to outsource overseas? They've refused to do anything except hold us all hostage through fear of job loss while they sit atop record-setting profits.

It's time to call their bluff.

One of the greatest challenges we face for reversing tax codes that benefit only the strong, the wealthy, and the powerful is our ability and willingness to call them out on their FUD strategy and to tell them that, "We're mad as hell and..."Well, you know the rest.

More than that, our elected officials need to know they can't use FUD on us either. If they have the courage to stand up to big money and the power elite, then they need to know that we will stand with them. We need more people like Bernie Sanders and Elizabeth Warren who seem to actually care about the middle class enough to stand up to Wall Street, big corporations, and the infinitesimally small number of wealthy people in America who already have rigged the system far too long and far too much to their advantage.

The wealthy aren't doing anything much to help the rest of us, so why should we keep kowtowing to them and their interests? Let's close tax loopholes that benefit large and wealthy corporations. It's a better place to start than with my home mortgage interest deduction.

Click here to find your Congressional Representative and tell him/her what you think. It's the only way they'll know.

Click here to learn more about and to get involved with Coffee Party USA and the work they're doing to restore our democracy.


Via John Cashon, Michael Charney
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AUSTERITY & OPPRESSION SUPPORTERS  VS THE PROGRESSION Of The REST OF US
GOP News, Libertarian news, Democratic News, World News and Reflections of Trends & Events that impact Austerity, Oppression or Progression of Societies.
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Female Inmates Should Soon Have This Basic Human Right Protected In California

Female Inmates Should Soon Have This Basic Human Right Protected In California | AUSTERITY & OPPRESSION SUPPORTERS  VS THE PROGRESSION Of The REST OF US | Scoop.it
Legislation sparked by a media report and a state audit that found female prisoners were being unlawfully sterilized in California's prisons heads to Gov. Jerry Brown's desk this week for the Democrat's signature.
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St. Louis Police Release Video Of Kajieme Powell Killing That Appears At Odds With Their Story

St. Louis Police Release Video Of Kajieme Powell Killing That Appears At Odds With Their Story | AUSTERITY & OPPRESSION SUPPORTERS  VS THE PROGRESSION Of The REST OF US | Scoop.it
The St. Louis Metropolitan Police Department released cell phone footage Wednesday of the police shooting of Kajieme Powell, a 25-year-old black man killed on Tuesday in St. Louis, according to St. Louis Public Radio.
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Wisdom Found in 1947 Law Could Save Belhaven's Hospital - YouTube

http://www.storyofamerica.org/deeds_and_misdeeds People in Belhaven have been asking themselves: what would our parents, grandparents and great grandparents ...
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Great story in progress! Check it out!

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Can the post office save itself by becoming a bank?

Can the post office save itself by becoming a bank? | AUSTERITY & OPPRESSION SUPPORTERS  VS THE PROGRESSION Of The REST OF US | Scoop.it
Everything you need to know about postal banking.
Monica S Mcfeeters's insight:

Ten percent of Americans have no checking account. Many have no access to a bank.

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Airstrikes Pound Islamic State Forces in Syria As Rebels Gain An Unlikely Ally

Airstrikes Pound Islamic State Forces in Syria As Rebels Gain An Unlikely Ally | AUSTERITY & OPPRESSION SUPPORTERS  VS THE PROGRESSION Of The REST OF US | Scoop.it
As Islamic State fighters sweep across northern Syria, airstrikes by the Assad regime may help beleaguered rebels hold them back.
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Here is an interesting development!

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New Federal overtime compensation law possible by the end of 2015 - DigiNews

New Federal overtime compensation law possible by the end of 2015 - DigiNews | AUSTERITY & OPPRESSION SUPPORTERS  VS THE PROGRESSION Of The REST OF US | Scoop.it
New Federal overtime compensation law possible by the end of 2015 DigiNews Learned Professional employee – work requires advanced knowledge, intellectual in character, and the job requires use of discretion and judgment, in a field of science or...
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Those working overtime may see the rules change before long.

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Labour: 'Unleash digital creativity to shift power away from Whitehall'

Labour: 'Unleash digital creativity to shift power away from Whitehall' | AUSTERITY & OPPRESSION SUPPORTERS  VS THE PROGRESSION Of The REST OF US | Scoop.it
After a three-month review into digital government, Labours strategists have been exploring ways of improving online tools Continue reading...
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Excerpt:

Labour’s policy chief has set out plans to transform digital services to increase public participation and customization, taking power away from Whitehall in what is described as “a new democratic revolution in which people have more power”.

Writing in the Guardian, Jon Cruddas and the shadow cabinet officer, Chi Onwurah, say that Labour’s extensive policy review has “seen a fundamental rethinking of the basic assumptions on which our party has been built for the last 30 years”.

“We know we must transform the way we do government. Big-state, top-down solutions just won’t work because to transform our country we have to help people be active participants, not helpless observers.

“The digital revolution should be about connecting people better, not about more command. It’s about sharing ideas and not imposing rigid rules, the freedom to create, not top-down control. We want people to use, create, consume, customize, play with, share, improve, inspire and own their digital services.”

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DemandProgress.tv

DemandProgress.tv | AUSTERITY & OPPRESSION SUPPORTERS  VS THE PROGRESSION Of The REST OF US | Scoop.it
Who controls the future of your food? Find out at a free online screening and discussion of the film GMO OMG on THURS 5/15. Space is limited to 2,000 people.
Monica S Mcfeeters's insight:

Important! Share broadly!

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Over 100,000 Homeless People Have Been Moved Into Homes & It Isn’t Stopping There! One Of The Most Profound Movements Ever!

Over 100,000 Homeless People Have Been Moved Into Homes & It Isn’t Stopping There! One Of The Most Profound Movements Ever! | AUSTERITY & OPPRESSION SUPPORTERS  VS THE PROGRESSION Of The REST OF US | Scoop.it
Whether you live in a major metropolis or a small town, chances are you’ve seen homeless people sleeping or wandering the streets at some point.
Monica S Mcfeeters's insight:

Wow! Great idea!

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Reciprocal inter-insurance exchange - Wikipedia, the free encyclopedia

Reciprocal inter-insurance exchange - Wikipedia, the free encyclopedia

A reciprocal inter-insurance exchange may be operated directly by its policyholders. In theory, a small group of individuals could band together to "cross insure" each other on an informal basis.

Monica S Mcfeeters's insight:

Why are we not talking about doing medical insurance this way? I really believe this was what medical insurance was more like in the pre-HMO days. Our Auto Insurance is this type. It is USAA. This would make the medical insurance system and health care of our nation truly consumer owned and controlled and for the most part leave the risk from too much government control and too much for-profit mooching out of the conversation. People with low or no income could elect with national or state medical voucher to buy in as subscribers like everyone else.

 

There could be more than one to choose from formed by various groups, but since the subscribers would be the voting co-op shareholders on how the business is run there really may be no need for various models.  For-profit insurance does not place their customers on their board of directors or give equal voice to them. The subscriber saving deposit could also build up as a burial policy with the excess being left to those designated as a small life insurance. This would solve another end of life issue for many.

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China reportedly blocked chat apps Line and Kakao Talk over terrorism concerns

China reportedly blocked chat apps Line and Kakao Talk over terrorism concerns | AUSTERITY & OPPRESSION SUPPORTERS  VS THE PROGRESSION Of The REST OF US | Scoop.it
Trouble has been brewing in China since last month with several foreign internet firms experiencing accessibility issues in the country, including chat apps Line and Kakao Talk.
Monica S Mcfeeters's insight:

Blocking connections without reason means blocking the connection of everyone and treating everyone as criminals.  There is a very thin line between protection and oppression.

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Will Donetsk be the next Grozny? - Al Jazeera America

Will Donetsk be the next Grozny? - Al Jazeera America | AUSTERITY & OPPRESSION SUPPORTERS  VS THE PROGRESSION Of The REST OF US | Scoop.it
Will Donetsk be the next Grozny? Al Jazeera America “There is a Russian way of warfare, which you see a lot more in the [Chechen] '99 war and which you also see in Georgia, that tends to privilege artillery a lot,” says Olga Oliker, senior...
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Monica S Mcfeeters's insight:

You get the chance here to look at Russia from another view.

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Republicans vote to sue Obama

Republicans vote to sue Obama | AUSTERITY & OPPRESSION SUPPORTERS  VS THE PROGRESSION Of The REST OF US | Scoop.it
The Republican-led US House of Representatives has cleared the way for a lawsuit against Barack Obama.
Monica S Mcfeeters's insight:

NO time to vote on Ambassadors or do their real job but they find time to sue Obama because he appointed people while the congress failed to and went on vacation instead. Now they find time to vote on suing him but not to vote on appointees to slots left open for years.Well if Obama is getting  sued anyway because he appointed some people to actually due work, he needs to appoint some more people while congress takes this month long vacation instead of staying to vote in people to fill very many much needed positions.

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The Huffington Post Is Not Leaving Ferguson

The Huffington Post Is Not Leaving Ferguson | AUSTERITY & OPPRESSION SUPPORTERS  VS THE PROGRESSION Of The REST OF US | Scoop.it
What happens in Ferguson and the St. Louis metro area the day after everybody leaves?
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HUFFPOLLSTER: North Carolina's Senate Race Remains Competitive

HUFFPOLLSTER: North Carolina's Senate Race Remains Competitive | AUSTERITY & OPPRESSION SUPPORTERS  VS THE PROGRESSION Of The REST OF US | Scoop.it
The North Carolina Senate race is close. Gallup finds a racial gap in views of the police. And four political scientists argue that presidential poll swings are largely the artifacts of who chooses to respond to surveys.
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Congressman and Mrs. Paul Ryan Working Together To Dismantle The Postal Service

Congressman and Mrs. Paul Ryan Working Together To Dismantle The Postal Service | AUSTERITY & OPPRESSION SUPPORTERS  VS THE PROGRESSION Of The REST OF US | Scoop.it
Paul Ryan's wife, Janna Little Ryan, is not exactly the typical stay at home Mom that is portrayed by Mr Ryan . Until their marriage she was a successful tax attorney and by the time she was 30 a high-priced lobbyist. Mrs. Ryan worked for Big Pharmaceuticals, Big Oil, and health care  corporations. Interestingly she was also a key lobbyist for UPS.  Her lobbying team was paid $220,000 in 1998 to lobby against the interests of…
Monica S Mcfeeters's insight:

Interesting facts about more revolving doors of influence.

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Ebola Out of Control: Quarantines, Hunger and Death in Liberia - Newsweek

Newsweek Ebola Out of Control: Quarantines, Hunger and Death in Liberia Newsweek BOYA Liberia/DAKAR (Reuters) - To try to control the Ebola epidemic spreading through West Africa, Liberia has quarantined remote villages at the epicenter of the...
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Update on a risky international situation!

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Jakarta Could Be Getting Its First Ethnically Chinese Governor

Jakarta Could Be Getting Its First Ethnically Chinese Governor | AUSTERITY & OPPRESSION SUPPORTERS  VS THE PROGRESSION Of The REST OF US | Scoop.it
Jakarta, a city once hit by horrific anti-Chinese riots, could be getting its first ethnically Chinese governor, .
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Interesting take on a new leader.

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Why Elaine Chao, Wife of Mitch McConnell, Could Help Sink his Re-election Bid 2 / 3 | Nomadic Politics

Why Elaine Chao, Wife of Mitch McConnell, Could Help Sink his Re-election Bid 2 / 3 | Nomadic Politics | AUSTERITY & OPPRESSION SUPPORTERS  VS THE PROGRESSION Of The REST OF US | Scoop.it
In the first of the three-part post on Ms. Elaine Chao, wife of Senator Mitch McConnell from Kentucky, we took a look at her rise.
In this installment we shall be examining her philosophy and her performance as Labor Secretary during the Bush years.
Monica S Mcfeeters's insight:

Very interesting post about a person I knew little about and this is worth a read and some serious thought!

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Australia's Jobless Rate Should Worry Fed - Bloomberg View

Australia's Jobless Rate Should Worry Fed - Bloomberg View | AUSTERITY & OPPRESSION SUPPORTERS  VS THE PROGRESSION Of The REST OF US | Scoop.it
Australia's Jobless Rate Should Worry Fed
Bloomberg View
In Australia, Prime Minister Tony Abbott's austerity push seems at odds with global trends, and with the experience of many Australian households and businesses.
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Excerpt:

"The biggest risk to Australia -- a weaker Chinese economy -- may soon be the world's, too. A slower pace of gross domestic product is assured as President Xi Jinping reins in a credit bubble and weans the economy from exports. There's growing alarm about a fast-spreading property slump around the country, which is already beset by ghost cities. In the first half of 2014, home sales fell 9.2 percent from a year earlier."

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Why This Century-Old Cartoon Could Have Been Printed Yesterday | Nomadic Politics

Why This Century-Old Cartoon Could Have Been Printed Yesterday | Nomadic Politics | AUSTERITY & OPPRESSION SUPPORTERS  VS THE PROGRESSION Of The REST OF US | Scoop.it
A cartoon from the 1912 presidential campaign depicts the Republican party's relationship with special interests and corporate monopolies.
Monica S Mcfeeters's insight:

A picture says a thousand words. A picture can also show history repeating events.

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Gaza Cease-Fire Ends! Ibrahim Is The First Killed

Gaza Cease-Fire Ends! Ibrahim Is The First Killed | AUSTERITY & OPPRESSION SUPPORTERS  VS THE PROGRESSION Of The REST OF US | Scoop.it
“We know too well that our freedom is incomplete without the freedom of the Palestinians” –Nelson Mandela
Palestinian officials say at least 1,875 people have been killed since Israel launched Operation Protective Edge on 8 July.
Monica S Mcfeeters's insight:

Gaza fighting starts up again.


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The Neoliberal Turn in American Health Care | Jacobin

The Neoliberal Turn in American Health Care | Jacobin | AUSTERITY & OPPRESSION SUPPORTERS  VS THE PROGRESSION Of The REST OF US | Scoop.it
The failings of the Affordable Care Act are rooted in a long shift away from the idea of a truly universal health care.

Monica S Mcfeeters's insight:

This article looks interesting! I'm collecting it here because I didn't have time to read this morning when I ran across it and plan to be able to fine it quick on this link for an afternoon or break in the day read.

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Don't call it 'student' debt

Don't call it 'student' debt | AUSTERITY & OPPRESSION SUPPORTERS  VS THE PROGRESSION Of The REST OF US | Scoop.it
Van Jones of CNN's "Crossfire" says "student debt" should be called "education debt" because entire families are paying the cost of a broken system.
Monica S Mcfeeters's insight:

This message is on target and filled with truth! How can we fix it? Let's do this!

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School hit as Israel pounds Gaza

School hit as Israel pounds Gaza | AUSTERITY & OPPRESSION SUPPORTERS  VS THE PROGRESSION Of The REST OF US | Scoop.it

TFifteen Palestinians sheltering inside a UN-run school in Gaza have been killed by Israeli shelling.

Monica S Mcfeeters's insight:

There is a thin line between sad and sick.

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