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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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John McCutcheon - Christmas In The Trenches - YouTube

I did not put these pictures together, nor would I want to take any credit for it. John McCutcheon - Christmas In The Trenches. My name is Francis Tolliver. ...
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This is the John McCutcheon song about a Christmas event 100 years ago….

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A New Resistance

A New Resistance | AUSTERITY & OPPRESSION SUPPORTERS  VS THE PROGRESSION Of The REST OF US | Scoop.it
Forty years ago, a chemical was born. It's in our food, water, air, soil, blood, urine and breast milk.
Are you Roundup Ready? Or ready for a New Resistance?
Watch the trailer
Monica S Mcfeeters's insight:

Here is a link to the trailer of a new film on round-up

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Paul Krugman warns severe austerity measures are pushing countries to brink of fascism

Paul Krugman warns severe austerity measures are pushing countries to brink of fascism | AUSTERITY & OPPRESSION SUPPORTERS  VS THE PROGRESSION Of The REST OF US | Scoop.it
Monica S Mcfeeters's insight:

Inequality has always come at a severe price to everyone in the end. That cost was paid by the rich as well as the poor. The backlash of inequality in recent history was Soviet Russia and Castro in Cuba. The cost to the wealthy was tax of 100% when everyone got sick of the  their dominance, greed and control took everything they had to the State which at least fed, clothed, educated people, provided a place to live, kept the lights and water on and even treated the sick and provided jobs.  That is starting to sound desirable right ????  We need to reel our rich individuals and companies in before they mess everything up for everyone including their own rich families. Those rich of the past were either killed or forced to run out of the country with what rices they could take. Nowadays there will be no where for the rich to run as the austerity has gone global.  


A blend of capitalism and socialism has served us well during the last century….The extreme of either of these two opposing ideas of capitalism and socialism has not served us well. Once the rich succeed in their harvest of resources, power and wealth  then the backlash sets in and it has never been pretty or played out well for the rich. The desperate don't have time to be understanding or nice to the rich they feel stepped on them, took unto themselves the gains made from everyone's labor and efforts.. That backlash of extreme socialism did help the poor and working class…. But it also limits their power and rights as well as well.

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1,892 US Veterans Are Thought to Have Committed Suicide Since January 1, 2014

1,892 US Veterans Are Thought to Have Committed Suicide Since January 1, 2014 | AUSTERITY & OPPRESSION SUPPORTERS  VS THE PROGRESSION Of The REST OF US | Scoop.it
'Nearly 1,900 military veterans are thought to have taken their own lives in just 2014 alone, according to an estimate from Iraq and Afghanistan Veterans of America.' Paul Szoldra, Business Insider
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Will the CIA's 'torture report' pose a threat to Americans?

Will the CIA's 'torture report' pose a threat to Americans? | AUSTERITY & OPPRESSION SUPPORTERS  VS THE PROGRESSION Of The REST OF US | Scoop.it
As the CIA is poised to release its first public report on the agency's own use of torture on Al Quaida detainees, the U.S. security community braces for possible backlash abroad.
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Taming corporate power: the key political issue of our age | George Monbiot

Taming corporate power: the key political issue of our age | George Monbiot | AUSTERITY & OPPRESSION SUPPORTERS  VS THE PROGRESSION Of The REST OF US | Scoop.it
Big business and its lobbyists have taken control of our politics. But there is an alternative. In the first of a new series, here’s how we can take on the fat cats
Does this sometimes feel like a country under enemy occupation?
Monica S Mcfeeters's insight:

Amen!

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How people have come to depend on food banks to survive

How people have come to depend on food banks to survive | AUSTERITY & OPPRESSION SUPPORTERS  VS THE PROGRESSION Of The REST OF US | Scoop.it
A former army nurse and a mother of three talk about how food banks have been the last line of support • Tories seek to avert rift with Church of England in wake of food bank reportBarbara Tolley has been involved in the community all her life,...
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Report from England

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Communes still thrive decades after the '60s, but economy is a bummer, man - Al Jazeera America

Communes still thrive decades after the '60s, but economy is a bummer, man - Al Jazeera America | AUSTERITY & OPPRESSION SUPPORTERS  VS THE PROGRESSION Of The REST OF US | Scoop.it
Modern utopias -- or intentional communities, as their proponents prefer -- still have to deal with dystopian finances
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Southern Democrats urging a return to party basics - SFGate

Southern Democrats urging a return to party basics - SFGate | AUSTERITY & OPPRESSION SUPPORTERS  VS THE PROGRESSION Of The REST OF US | Scoop.it
ATLANTA â€" Southern Democrats are joining others in the party who say that a return to advocating to lift people out of economic hardship and emphasizing spending on education and public works will re-energize black voters and attract whites as...
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Canal Boats: The Last Option For Affordable Living In London Is Causing Problems

Canal Boats: The Last Option For Affordable Living In London Is Causing Problems | AUSTERITY & OPPRESSION SUPPORTERS  VS THE PROGRESSION Of The REST OF US | Scoop.it
One issue most people who live in the center of metropolitan cities encounter is rising prices.
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US strikes target Islamic State forces in Syrian towns of Raqqa and Kobane (+video)

US strikes target Islamic State forces in Syrian towns of Raqqa and Kobane (+video) | AUSTERITY & OPPRESSION SUPPORTERS  VS THE PROGRESSION Of The REST OF US | Scoop.it
The expanding US-led campaign against the Islamic State in Syria saw a wave of bombings today.
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Can Ferguson spark new civil rights movement? How times have changed. (+video)

Can Ferguson spark new civil rights movement? How times have changed. (+video) | AUSTERITY & OPPRESSION SUPPORTERS  VS THE PROGRESSION Of The REST OF US | Scoop.it
The protesters who have gathered in Ferguson and beyond want to start a national movement. But the changes ushered in by the civil rights movement mean today's issues are more deep-seated.
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Hidden fees are eating up your 401(k)s

Hidden fees are eating up your 401(k)s | AUSTERITY & OPPRESSION SUPPORTERS  VS THE PROGRESSION Of The REST OF US | Scoop.it
Robert Hiltonsmith says if you knew that 30% of your retirement savings are chipped off, you would probably be outraged.
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How We Came to Accept Police Brutality as the Norm 1/2 | Nomadic Politics

How We Came to Accept Police Brutality as the Norm 1/2 | Nomadic Politics | AUSTERITY & OPPRESSION SUPPORTERS  VS THE PROGRESSION Of The REST OF US | Scoop.it
With all the protests around the country about abusive law enforcement, it is a good time to ask how we as a country got into this situation. Is it simply a matter of racism permeating police departments or does it go deeper?
With all of the safeguards hard-wired into the Constitution, how could we have allowed it to happen?
Monica S Mcfeeters's insight:

Twelve year olds are shot or arrested for nothing, a 17 year old possibly hung and a man warning police he could not breath was allowed to die…All these show we need to take a real look at where we are today.

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What’s in the spending bill? We skim it so you don’t have to

What’s in the spending bill? We skim it so you don’t have to | AUSTERITY & OPPRESSION SUPPORTERS  VS THE PROGRESSION Of The REST OF US | Scoop.it
The bill has 1,603 pages. From changes to the Affordable Care Act, to potatoes, and wolves, we found some gems.
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Back from the Brink: Heroin's Antidote (Excerpt)

Back from the Brink: Heroin's Antidote (Excerpt) | AUSTERITY & OPPRESSION SUPPORTERS  VS THE PROGRESSION Of The REST OF US | Scoop.it
In this excerpt, VICE News visits parent support group Learn2Cope as Mary Jane McHenry speaks to parents of children with opioid addictions.
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▶ Sen. Warren Calls on House to Strike Repeal of Dodd-Frank Provision in Funding Bill - YouTube

Senator Elizabeth Warren spoke on the Senate floor on December 10, 2014 to call on the House of Representatives to remove from the government funding bill a ...
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How will Hong Kong protestors respond to shut-down?

How will Hong Kong protestors respond to shut-down? | AUSTERITY & OPPRESSION SUPPORTERS  VS THE PROGRESSION Of The REST OF US | Scoop.it
Hong Kong's student protestors erected barricades in the city's street over two months ago, to demand democratic elections; they must now decide how to prepare for a court-ordered dismantling of these sites, planned for Thursday.
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Why more smart devices won't help the poor - New York Post

Why more smart devices won't help the poor - New York Post | AUSTERITY & OPPRESSION SUPPORTERS  VS THE PROGRESSION Of The REST OF US | Scoop.it
New York plans to build one the largest municipal Wi-Fi networks in the world, delivering Internet access to poorer areas and, Mayor de Blasio boasts, “bridging the digital divide.” Setting aside h...
Monica S Mcfeeters's insight:

New York is reaching out to include it's poor into the technology age!

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Mass surveillance exposed by Snowden ‘not justified by fight against terrorism’

Mass surveillance exposed by Snowden ‘not justified by fight against terrorism’ | AUSTERITY & OPPRESSION SUPPORTERS  VS THE PROGRESSION Of The REST OF US | Scoop.it
Report by Nils Muižnieks, commissioner for human rights at the Council of Europe, says ‘secret, massive and indiscriminate’ intelligence work is contrary to rule of law The “secret, massive and indiscriminate” surveillance conducted by intelligence...
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U.S. employers add 321,000 jobs in November

U.S. employers add 321,000 jobs in November | AUSTERITY & OPPRESSION SUPPORTERS  VS THE PROGRESSION Of The REST OF US | Scoop.it
U.S. employers added a robust 321,000 jobs in November — the biggest jump in three years.
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Hong Kong protesters and police face off as violent exchanges continue

Hong Kong protesters and police face off as violent exchanges continue | AUSTERITY & OPPRESSION SUPPORTERS  VS THE PROGRESSION Of The REST OF US | Scoop.it
Police use batons and pepper spray against pro-democracy activists as night of confrontation continues into Monday

Hong Kong: clashes escalate between pro-democracy protesters and police Continue reading...
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Democracy protesters clash with police in Hong Kong

Democracy protesters clash with police in Hong Kong | AUSTERITY & OPPRESSION SUPPORTERS  VS THE PROGRESSION Of The REST OF US | Scoop.it
Mostly young protesters battled with security forces after they tried to surround the Hong Kong government headquarters.
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Pope Francis fails to find common ground in Turkey (+video)

Pope Francis fails to find common ground in Turkey (+video) | AUSTERITY & OPPRESSION SUPPORTERS  VS THE PROGRESSION Of The REST OF US | Scoop.it
Francis said the rise of the Islamic State militant group in Iraq and Syria is a threat to the region's Christian minority. Turkey's President Erdogan said the fault lies with the West.
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The Retirement Cafe

The Retirement Cafe | AUSTERITY & OPPRESSION SUPPORTERS  VS THE PROGRESSION Of The REST OF US | Scoop.it
Monica S Mcfeeters's insight:

This is a helpful retirement blog designed to include plans for those with moderate income and retirement funds.

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