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Rescooped by Monica S Mcfeeters from The Middle Ground
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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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Scooped by Monica S Mcfeeters
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2014 will be the most expensive midterm election ever

2014 will be the most expensive midterm election ever | AUSTERITY & OPPRESSION SUPPORTERS  VS THE PROGRESSION Of The REST OF US | Scoop.it
The biggest growth area? Outside group spending.
Monica S Mcfeeters's insight:

Both sides are spending big....But who is investing and what are they expecting? How much did you invest and what do you think you will get for your investment? Nothing for nothing? Please Vote! Voting is a wise investment and can take on the biggest spenders without spending a dime. Just look past the big money ads and do your own homework. These big spenders aren't paying to have these people work for you and most of the biggest money is coming from a small group of very extremely wealthy individuals that intend to continue to redistribute everyone's resources and wealth into their pockets and control.


Excerpt:

That spending, as they note, does not include nonprofit 501(c)(4) groups like the Koch brothers-aligned Americans for Prosperity, which have spent heavily on the election. "Overall, it’s likely that at least $100 million in spending is not being counted, and that money leans distinctly to the right, records filed with the Federal Communications Commission indicate. If that’s an accurate estimate, any advantage the liberal outside spending groups have over conservative ones will be washed away by Election Day," reads the memo.

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Rescooped by Monica S Mcfeeters from European Union - Justice and Home Affaires
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EU Crime Alert: Shell firms might have to disclose owners as EU tackles money laundering, terrorism

EU Crime Alert: Shell firms might have to disclose owners as EU tackles money laundering, terrorism | AUSTERITY & OPPRESSION SUPPORTERS  VS THE PROGRESSION Of The REST OF US | Scoop.it
Companies would be forced to disclose their ultimate owners on a public European Union-wide register under plans being pushed by European Parliament lawmakers to tackle money laundering, tax evasion and terrorism.
Via Marc Van den Broeck
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Rescooped by Monica S Mcfeeters from State of Freedom
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NYC doctor being tested for Ebola went bowling, used Uber taxis

NYC doctor being tested for Ebola went bowling, used Uber taxis | AUSTERITY & OPPRESSION SUPPORTERS  VS THE PROGRESSION Of The REST OF US | Scoop.it
A 33-year-old Doctors Without Borders physician who recently treated Ebola patients in Guinea was rushed in an ambulance with police escorts from his Harlem home to Bellevue Hospital on Thursday, s...

Via wanderingsalsero
Monica S Mcfeeters's insight:

The only one in America to die that was sent home with meds when he became sick and the only Black guy to come back with the disease was accused of deliberately spreading the disease and threatened with arrest had he lived.....But he was not this man.add your insight...

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wanderingsalsero's curator insight, October 23, 9:52 PM

Yeah sure, the government and the CDC know what they're doing....yeah sure...they know how to handle it. Yeah sure....it's OK to let flights into the US from Ebola countries because we wouldn't want to offend anybody.

 

Yeah sure.....you're dead.

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George W. Bush’s Revenge: A Federal Appeals Court Goes on the Rampage

George W. Bush’s Revenge: A Federal Appeals Court Goes on the Rampage | AUSTERITY & OPPRESSION SUPPORTERS  VS THE PROGRESSION Of The REST OF US | Scoop.it
This post first appeared at Mother Jones.
Former President Bush shakes hands with Texas Supreme Court Justice Priscilla Owen, his choice to serve on the U.S.
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Rescooped by Monica S Mcfeeters from Coffee Party News
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North Carolina on track to have costliest Senate race ever

North Carolina on track to have costliest Senate race ever | AUSTERITY & OPPRESSION SUPPORTERS  VS THE PROGRESSION Of The REST OF US | Scoop.it
The flood of advertising dollars into North Carolina symbolizes the growing influence of outside groups in political campaigns. Overall spending for the Senate race in the Tar Heel State could surpass $100 million.

Via Coffee Party USA
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Rescooped by Monica S Mcfeeters from Coffee Party News
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States Ease Interest Rate Laws That Protected Poor Borrowers

States Ease Interest Rate Laws That Protected Poor Borrowers | AUSTERITY & OPPRESSION SUPPORTERS  VS THE PROGRESSION Of The REST OF US | Scoop.it

Lawmakers in several states have voted to increase the fees or the interest rates that lenders can charge on personal loans used by millions of poor or financially struggling borrowers.


Via Bobby Rodrigo
Monica S Mcfeeters's insight:

Is this a step in the total wrong direction? Anyone that has ever been caught in the borrower trap knows how hard it is to ever break that cycle. This will make it even worse to pull out of a debt. These companies have already been operating like bandits and vampires or mafia Godfathers.

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Pressure on Obama to Quickly Resolve Centuries-Old Sunni-Shiite Conflict - The New Yorker

Pressure on Obama to Quickly Resolve Centuries-Old Sunni-Shiite Conflict - The New Yorker | AUSTERITY & OPPRESSION SUPPORTERS  VS THE PROGRESSION Of The REST OF US | Scoop.it
WASHINGTON (The Borowitz Report)—Congressional leaders left the White House on Wednesday “deeply frustrated” that President Obama had not found a swift resolution to the conflict between Sunnis and Shiites that began in the seventh century A.D. After meeting for more than an hour with the President in the Oval Office, Senate Minority Leader Mitch McConnell expressed disappointment that Mr. Obama “came up empty” when asked for a plan to heal the rift between the two religious groups, which began in the year 632.
Monica S Mcfeeters's insight:

Speaking of people that seem to think Obama is a Savior .....it doesn't get better than this.....

Excerpt:After meeting for more than an hour with the President in the Oval Office, Senate Minority Leader Mitch McConnell expressed disappointment that Mr. Obama “came up empty” when asked for a plan to heal the rift between the two religious groups, which began in the year 632.

“All we ask of this President is that he do one thing: settle a religious conflict that has been going on for a millennium and a half,” McConnell said. “What did he offer today? Nothing.”

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Rescooped by Monica S Mcfeeters from Coffee Party News
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Where the Tea Party Rules

Where the Tea Party Rules | AUSTERITY & OPPRESSION SUPPORTERS  VS THE PROGRESSION Of The REST OF US | Scoop.it
Lima, Ohio, has been struggling for decades – and the GOP’s radical policies are making it even worse.

Via Marianne Castiglia
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Ben Swann “Breaks the Set” Talking About the Suppression of Alternative Candidates

Ben Swann “Breaks the Set” Talking About the Suppression of Alternative Candidates | AUSTERITY & OPPRESSION SUPPORTERS  VS THE PROGRESSION Of The REST OF US | Scoop.it
Washington D.C.- Ben Swann was a guest on RT America’s Breaking the Set, Thursday to talk about the state of alternative candidates

Via Coffee Party USA
Monica S Mcfeeters's insight:

Thought this would be great to post as these days one would think the country only has two choices that are far too much alike more than they are different.

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Dark Money Hits $100 Million With Help from Single-Candidate Groups — popularinitiative.org

Dark Money Hits $100 Million With Help from Single-Candidate Groups — popularinitiative.org | AUSTERITY & OPPRESSION SUPPORTERS  VS THE PROGRESSION Of The REST OF US | Scoop.it
Spending by groups that don’t disclose their donors in the 2014 midterm elections has crested $100 million

Via Marianne Castiglia
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U.S. airdrops weapons to fighters in Syria despite Turkish objections

U.S. airdrops weapons to fighters in Syria despite Turkish objections | AUSTERITY & OPPRESSION SUPPORTERS  VS THE PROGRESSION Of The REST OF US | Scoop.it
Time’s up for the Turks. Over their objections, the U.S.
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“More Money Than I Could Count”: Mitch McConnell’s Very Special Relationship With Lobbyists

“More Money Than I Could Count”: Mitch McConnell’s Very Special Relationship With Lobbyists | AUSTERITY & OPPRESSION SUPPORTERS  VS THE PROGRESSION Of The REST OF US | Scoop.it
This post first appeared at Mother Jones.
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PHOTOS: Palestinians watch harvest season disappear before their eyes | +972 Magazine

PHOTOS: Palestinians watch harvest season disappear before their eyes | +972 Magazine | AUSTERITY & OPPRESSION SUPPORTERS  VS THE PROGRESSION Of The REST OF US | Scoop.it
In the village of Salem, as elsewhere in the West Bank, Palestinians are forced to harvest their olives according to the whims and restrictions of Israeli authorities. Photos and text by: Ahmad Al-Bazz/Activestills.org As every…
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Rescooped by Monica S Mcfeeters from Women's Economic Empowerment, Women and Development, Gender Equality
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Infographic: UNWomen Overheard at the UN General Assembly, 69th Session

Infographic: UNWomen Overheard at the UN General Assembly, 69th Session | AUSTERITY & OPPRESSION SUPPORTERS  VS THE PROGRESSION Of The REST OF US | Scoop.it
[Click on image to enlarge infographic]

Via Dr Lendy Spires
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Rescooped by Monica S Mcfeeters from Peer2Politics
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Open Source Politics/Open Source Design: Observatory: Design Observer

Open Source Politics/Open Source Design: Observatory: Design Observer | AUSTERITY & OPPRESSION SUPPORTERS  VS THE PROGRESSION Of The REST OF US | Scoop.it
A review of the identity for the radical new Danish political party, Alternativet.

Via jean lievens
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Carlos M. Raposo's curator insight, September 13, 12:48 AM

Todos São Chamados ao Design

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The Least of These My Brothers: Homelessness and the Moral Test of Government | Nomadic Politics

The Least of These My Brothers: Homelessness and the Moral Test of Government | Nomadic Politics | AUSTERITY & OPPRESSION SUPPORTERS  VS THE PROGRESSION Of The REST OF US | Scoop.it
A higher sense of moral development has always been the unsaid tenet behind American exceptionalism. But when it comes to our treatment of the homeless, where is the moral superiority?
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Where Is the Investigation Into Financial Corruption at the NSA?

Where Is the Investigation Into Financial Corruption at the NSA? | AUSTERITY & OPPRESSION SUPPORTERS  VS THE PROGRESSION Of The REST OF US | Scoop.it
Earlier this year, when Keith Alexander resigned as head of the National Security Agency, he began trying to cash in on expertise he'd gained while in government, pitching himself as a security consultant who could protect Wall Street banks and...
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Rescooped by Monica S Mcfeeters from Coffee Party News
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Concern Over New-Voter Registration In Georgia Ahead Of Election

Concern Over New-Voter Registration In Georgia Ahead Of Election | AUSTERITY & OPPRESSION SUPPORTERS  VS THE PROGRESSION Of The REST OF US | Scoop.it

A lawsuit in Georgia claims more than 40,000 voter registration applications are missing weeks before the November midterm election. Lawyers say they belong to new African-American, Latino and Asian-American voters.


Via Bobby Rodrigo
Monica S Mcfeeters's insight:

In case you had not seen or heard of this here are the details.

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Afghan corruption a tougher job after taking on the mafia - Stars and Stripes

Afghan corruption a tougher job after taking on the mafia - Stars and Stripes | AUSTERITY & OPPRESSION SUPPORTERS  VS THE PROGRESSION Of The REST OF US | Scoop.it
John Sopko says taking on the Mafia in Ohio as a young federal prosecutor was less daunting than his current job rooting out waste and corruption in the U.S.- financed attempt to rebuild Afghanistan.
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Sam Brownback tried to create a conservative utopia—and put Kansas in play for the Democrats

Sam Brownback tried to create a conservative utopia—and put Kansas in play for the Democrats | AUSTERITY & OPPRESSION SUPPORTERS  VS THE PROGRESSION Of The REST OF US | Scoop.it
How the Kansas governor's red-state experiment sparked a Republican rebellion.
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Rescooped by Monica S Mcfeeters from Coffee Party News
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Arkansas Supreme Court becomes latest to strike down voter ID law

Arkansas Supreme Court becomes latest to strike down voter ID law | AUSTERITY & OPPRESSION SUPPORTERS  VS THE PROGRESSION Of The REST OF US | Scoop.it
The seven-member court delivered an unusual decision Wednesday that was at once unanimous and split 4 to 3.

Via Coffee Party USA
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Rescooped by Monica S Mcfeeters from Coffee Party News
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The Secret Casualties of Iraq’s Abandoned Chemical Weapons

The Secret Casualties of Iraq’s Abandoned Chemical Weapons | AUSTERITY & OPPRESSION SUPPORTERS  VS THE PROGRESSION Of The REST OF US | Scoop.it
The Pentagon kept silent as munitions left over from Saddam Hussein’s war with Iran found new targets from 2004 to 2011: American and Iraqi troops.

Via Coffee Party USA
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Kobane: Turkey to allow some Kurds to help defend city against Islamic State

Kobane: Turkey to allow some Kurds to help defend city against Islamic State | AUSTERITY & OPPRESSION SUPPORTERS  VS THE PROGRESSION Of The REST OF US | Scoop.it
The battle for the ethnic-Kurdish city of Kobane on the Turkish-Syria border could see Iraqi Kurds join the fray in greater numbers after Turkey's decision, a reversal of its previous policy. 
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The NSA's Moonlighting Problem

The NSA's Moonlighting Problem | AUSTERITY & OPPRESSION SUPPORTERS  VS THE PROGRESSION Of The REST OF US | Scoop.it
In Washington, the revolving door between government service and more lucrative ventures is common, if not expected.
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Families of British aid workers executed by ISIS promote 'acts of unity'

Families of British aid workers executed by ISIS promote 'acts of unity' | AUSTERITY & OPPRESSION SUPPORTERS  VS THE PROGRESSION Of The REST OF US | Scoop.it
The families of two British aid workers who were executed by ISIS militants are promoting “acts of unity” in memory of their slain loved ones.
Monica S Mcfeeters's insight:

How different it might be If only everyone could spread understanding and compassion instead of hate around the world.

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