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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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Public Service Commission

Public Service Commission | AUSTERITY & OPPRESSION SUPPORTERS  VS THE PROGRESSION Of The REST OF US | Scoop.it
Common Cause Nebraska has discovered that 76% of campaign financing from identifiable donors for incumbent Nebraska Public Service Commissioners comes from the industries they regulate or people directly connected to those industries
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Keep your eye on the money behind the policy.....

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The Trans-Pacific Partnership clause everyone should oppose

The Trans-Pacific Partnership clause everyone should oppose | AUSTERITY & OPPRESSION SUPPORTERS  VS THE PROGRESSION Of The REST OF US | Scoop.it
The Investor-State Dispute Settlement provision would undermine U.S. sovereignty.
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How the Military Will Fight ISIS on the Dark Web - Nextgov

How the Military Will Fight ISIS on the Dark Web - Nextgov | AUSTERITY & OPPRESSION SUPPORTERS  VS THE PROGRESSION Of The REST OF US | Scoop.it
ISIS already is on the Dark Web raising money through Bitcoin. The military is on the Dark Web, too.
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- Chasing Glenn Beck - The New Terrorism

- Chasing Glenn Beck - The New Terrorism | AUSTERITY & OPPRESSION SUPPORTERS  VS THE PROGRESSION Of The REST OF US | Scoop.it
Frequent visitors to my blog know that few things irritate me as much as when “they&...
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These US evangelicals helped create Russia's anti-gay movement

These US evangelicals helped create Russia's anti-gay movement | AUSTERITY & OPPRESSION SUPPORTERS  VS THE PROGRESSION Of The REST OF US | Scoop.it
Meet the Fox News producer, the nightclub impresario, and the oligarch who teamed up to write inequality into law.
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President's Peace Commission examines importance of liberal arts education - St. Mary's University

President's Peace Commission examines importance of liberal arts education - St. Mary's University | AUSTERITY & OPPRESSION SUPPORTERS  VS THE PROGRESSION Of The REST OF US | Scoop.it
The Spring 2015 President’s Peace Commission at St. Mary’s University will discuss the value of liberal arts education. The three-day program runs Tuesday, Feb. 24 through Thursday, Feb. 26.
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Yall Politics | Lt. Gov Tate Reeves speaks to ALEC in Chicago after being introduced by Steve Seale

Mississippi is open for business and seeing success in attracting more jobs, Lt. Gov. Tate Reeves told a crowd of legislators from around the country at the 40th Annual Meeting of the American Legislative Exchange Council. Lt. Gov. Reeves recounted legislative successes to grow businesses and reform education at the closing lunch with economist Dr. Arthur Laffer, who was member of President Reagan’s Economic Policy Advisory Board. Because Lt. Gov. Reeves was a featured speaker, ALEC funded his trip, and no taxpayer dollars were spent. Former Florida Gov. Jeb Bush, Oklahoma Gov. Mary Fallin and Iowa Gov. Terry Branstad also…
Monica S Mcfeeters's insight:

The guys who pay for the tune gets to pick the song...."NO TAXPAYER DOLLARS SPENT"...Who do you think gets their song to play out in policy? WAKE UP MISSISSIPPI!!! AND THE REST OF THE NATION TOO!

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ISIS abducts scores of Assyrians in Syria, groups say

ISIS abducts scores of Assyrians in Syria, groups say | AUSTERITY & OPPRESSION SUPPORTERS  VS THE PROGRESSION Of The REST OF US | Scoop.it
ISIS kidnapped scores of Christian Assyrians and forced hundreds more to run for their lives, an advocate said.
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Three Signs That Young Americans Are Getting a Raw Deal

Three Signs That Young Americans Are Getting a Raw Deal | AUSTERITY & OPPRESSION SUPPORTERS  VS THE PROGRESSION Of The REST OF US | Scoop.it
This post first appeared at Campaign for America’s Future.
(AP Photo/Lisa Poole)
We talk a good game about opportunity in this country, but here are three signs that we’re failing to provide young people a fair shot at prosperity.
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Frontline Communities Confront Legacy of Racism, Poverty and Environmental Destruction

Frontline Communities Confront Legacy of Racism, Poverty and Environmental Destruction | AUSTERITY & OPPRESSION SUPPORTERS  VS THE PROGRESSION Of The REST OF US | Scoop.it
This post first appeared at the Earth Island Journal.
BP oil spill in 2010. (Photo: kris krüg/flickr CC 2.0)
For activists throughout the Gulf Coast 2015 is a year of anniversaries.
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Turkish Men Wear Miniskirts In Support Of Women’s Rights After Brutal Murder

Turkish Men Wear Miniskirts In Support Of Women’s Rights After Brutal Murder | AUSTERITY & OPPRESSION SUPPORTERS  VS THE PROGRESSION Of The REST OF US | Scoop.it
The brutal murder of 20-year-old Ozgecan Aslan has sparked such outrage in Turkey that men took to the streets wearing miniskirts, in support of women’s rights.
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Cuomo Officials Directed State Loan To Cuomo Donor At Center of Corruption Probe

Cuomo Officials Directed State Loan To Cuomo Donor At Center of Corruption Probe | AUSTERITY & OPPRESSION SUPPORTERS  VS THE PROGRESSION Of The REST OF US | Scoop.it
New York's governor accepted $1 million in campaign contributions from a developer who received New York tax breaks and subsidies.
Monica S Mcfeeters's insight:

Money and how it can corrupt policy and democracy....

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Chris Christie Shows Fondness for Luxury Benefits When Others Pay the Bill

Chris Christie Shows Fondness for Luxury Benefits When Others Pay the Bill | AUSTERITY & OPPRESSION SUPPORTERS  VS THE PROGRESSION Of The REST OF US | Scoop.it
While the image of Governor Christie of New Jersey is that of a populist Everyman preaching austerity, he has long indulged luxury tastes, sometimes in ethically questionable situations.
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Hammerstrom: Will we know corruption when we see it?

Hammerstrom: Will we know corruption when we see it? | AUSTERITY & OPPRESSION SUPPORTERS  VS THE PROGRESSION Of The REST OF US | Scoop.it
By Jim Hammerstrom
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Something to think about....

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Pope Francis to Address Congress on September 24

Pope Francis to Address Congress on September 24 | AUSTERITY & OPPRESSION SUPPORTERS  VS THE PROGRESSION Of The REST OF US | Scoop.it
Pope Francis will visit the U.S. Capitol on September 24 and deliver an address to a joint session of Congress, House Speaker John Boehner announced on Thurs...
Monica S Mcfeeters's insight:

Yes! This should really be worth watching!

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5 facts about consistent conservatives

5 facts about consistent conservatives | AUSTERITY & OPPRESSION SUPPORTERS  VS THE PROGRESSION Of The REST OF US | Scoop.it
Our research on political polarization found that 9% of Americans, and 20% of Republicans and Republican leaners, express consistently conservative views.
Monica S Mcfeeters's insight:

Wow! Number 5 is sad! Here is a link in tribute to Rupert Murdock the founder and still main stock holder of FOX NEWS and tons of other Global News Media that has nothing to do with America. http://www.metrolyrics.com/dirty-laundry-lyrics-don-henley.html

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'Christian Martyrs Change the World': We Meet the Families of the Egyptian Christians Beheaded by the Islamic State

VICE News traveled to Al Aour to meet the families of 13 Egyptian Christians brutally murdered by the Islamic State. Yet amid the sadness, the relatives surprisingly expressed a sense of happiness regarding the killings.
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U.S. Senator Elizabeth Warren

U.S. Senator Elizabeth Warren | AUSTERITY & OPPRESSION SUPPORTERS  VS THE PROGRESSION Of The REST OF US | Scoop.it
Official page of the office of U.S. Senator Elizabeth Warren of Massachusetts
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Great Link to an amazing citizen if you are not already connected.

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Bernie Sanders: Oligarchs with endless supplies of money are sending us back to the 1920s

Bernie Sanders: Oligarchs with endless supplies of money are sending us back to the 1920s | AUSTERITY & OPPRESSION SUPPORTERS  VS THE PROGRESSION Of The REST OF US | Scoop.it
Sen. Bernie Sanders (I-VT) warned Monday that billionaires like the Koch brothers were trying to undo major New Deal programs like Social Security — and had enough money to send the country back to the 1920s.
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Yes, Inequality is Still a Big Problem — and One We Can Tackle

Yes, Inequality is Still a Big Problem — and One We Can Tackle | AUSTERITY & OPPRESSION SUPPORTERS  VS THE PROGRESSION Of The REST OF US | Scoop.it
Construction Workers in downtown Manhattan. (Credit: Charina Nadura/Moyers & Company)
The New York Times’ David Leonhardt is one of the country’s most thoughtful commentators on the links between economics and politics.
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Israeli PM Netanyahu declines Senate Democrats’ invitation to meet during U.S. visit

Israeli PM Netanyahu declines Senate Democrats’ invitation to meet during U.S. visit | AUSTERITY & OPPRESSION SUPPORTERS  VS THE PROGRESSION Of The REST OF US | Scoop.it
Israeli Prime Minister Benjamin Netanyahu declined on Tuesday an invitation to meet with U.S. Senate Democrats during his trip to Washington next week.
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The 40,000 People in Bagram Air Base Haven’t Actually Seen Afghanistan

The 40,000 People in Bagram Air Base Haven’t Actually Seen Afghanistan | AUSTERITY & OPPRESSION SUPPORTERS  VS THE PROGRESSION Of The REST OF US | Scoop.it
The view from soldiers and photojournalists in Afghanistan offers a glimpse of the boredom and the terror of war as they take us out on patrol, along for the raids and into the battles.
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Future Tense: Between Huxley or Orwell | Nomadic Politics

Future Tense: Between Huxley or Orwell | Nomadic Politics | AUSTERITY & OPPRESSION SUPPORTERS  VS THE PROGRESSION Of The REST OF US | Scoop.it
Two Past Visions of the Future and both of them- in their own way- came true.
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Cuomo’s Office Hobbled Ethics Inquiries by Moreland Commission

Cuomo’s Office Hobbled Ethics Inquiries by Moreland Commission | AUSTERITY & OPPRESSION SUPPORTERS  VS THE PROGRESSION Of The REST OF US | Scoop.it
An investigation has found that Gov. Andrew M. Cuomo’s aides deeply compromised the New York State panel’s work, objecting to any inquiries about groups tied to Mr. Cuomo.
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Money and how it affects policy...

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