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Rescooped by Monica S Mcfeeters from Coffee Party Election Coverage
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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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Debt-free sovereign money for Iceland?

Critical Thinking website for the Free University which grew out of Occupy London and the Bank of Ideas. Truth, lies, myth and reality - exploring commonly held beliefs/perceptions promoted by politicians, media, business and public institutions. If you are alarmed at the current economic turmoil, debt and austerity, growing inequality, wars of aggression, infringement of civil liberties and many other concerns expressed by the occupy movements, this course will develop your understanding of the root causes. The course is aimed at anyone keen to expand their knowledge of how the world works, identify levers for real change and work on solutions.
Monica S Mcfeeters's insight:
Published on Sunday, 12 April 2015 11:12

That this article appeared in the Financial Times (FT) is remarkable. The FT is part of the Pearson Group and like the Economist is controlled by the House of Rothschild whose ancestor Meyer Amschel Rothschild stated in 1790:“Let me issue and control a nation’s money and I care not who writes the laws.”

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One of America's Reddest States Embraced Socialism to Fight Robber Barons and Bankers. Here's Why They Aren't Looking Back - NationofChange

One of America's Reddest States Embraced Socialism to Fight Robber Barons and Bankers. Here's Why They Aren't Looking Back - NationofChange | AUSTERITY & OPPRESSION SUPPORTERS  VS THE PROGRESSION Of The REST OF US | Scoop.it
North Dakota has come up with a solution to fight back against Wall Street—embrace socialism. While it might be the reddest state in America, it's ironically the most socialist state. If North Dakota can do it, so can the rest of the states.
Monica S Mcfeeters's insight:

Great points on why socialism has a place to some degree in this nation.

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The Weak Link: Winning State Elections

The Weak Link: Winning State Elections | AUSTERITY & OPPRESSION SUPPORTERS  VS THE PROGRESSION Of The REST OF US | Scoop.it
This post first appeared Campaign for America’s Future.
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New Report: Big Banks Require Tellers to Use Predatory Practices

New Report: Big Banks Require Tellers to Use Predatory Practices | AUSTERITY & OPPRESSION SUPPORTERS  VS THE PROGRESSION Of The REST OF US | Scoop.it
Image: AP Photo/Alan Diaz Front-line workers at our nation’s big banks — tellers, loan interviewers and customer service representatives — are required by their employers to exploit customers, according to a revealing report out today from the...
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The creepy spying power buried in the Patriot Act - YouTube

A frequently misused section of the Patriot Act is coming up for Congressional renewal, and we have a chance to stop it. Visit https://fight215.org to finall...
Monica S Mcfeeters's insight:

You can make a difference in protecting your own privacy. Check the video out as to why this matters and why now is an important time to act.

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Saudi Airstrike In Yemen Kills Family of Nine – Including Six Children

Saudi Airstrike In Yemen Kills Family of Nine – Including Six Children | AUSTERITY & OPPRESSION SUPPORTERS  VS THE PROGRESSION Of The REST OF US | Scoop.it
A Yemeni man stands at his house destroyed by Saudi airstrikes near Sanaa Airport, Yemen, Tuesday, March 31, 2015.

Via Coffee Party USA
Monica S Mcfeeters's insight:

War and conflict always injures many innocent people. Not all those involved in this conflict are approachable for other ways to resolve conflicts. It will be a better world when we can spread and promote conversation and understanding as affectingly as fear and hate and lies.

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Pope, thousands brave rain for Easter in St. Peter’s Square

Pope, thousands brave rain for Easter in St. Peter’s Square | AUSTERITY & OPPRESSION SUPPORTERS  VS THE PROGRESSION Of The REST OF US | Scoop.it
In an Easter peace wish, Pope Francis on Sunday praised the framework nuclear agreement with Iran as an opportunity to make the world safer.
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NYC families to boycott state math, reading exams: activists

NYC families to boycott state math, reading exams: activists | AUSTERITY & OPPRESSION SUPPORTERS  VS THE PROGRESSION Of The REST OF US | Scoop.it
Thousands of city families will boycott the state’s math and reading exams, according to activists who oppose testing.
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Historic plaza in Ajo, Arizona (Photos James and Deborah Fallows) - The Atlantic

Historic plaza in Ajo, Arizona (Photos James and Deborah Fallows) - The Atlantic | AUSTERITY & OPPRESSION SUPPORTERS  VS THE PROGRESSION Of The REST OF US | Scoop.it
A mining town fallen on hard times reinvents itself as a magnet for artists and tourists.
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Judge rules in favor of Oxford mom's ed initiative lawsuit

Judge rules in favor of Oxford mom's ed initiative lawsuit | AUSTERITY & OPPRESSION SUPPORTERS  VS THE PROGRESSION Of The REST OF US | Scoop.it
By Kate | Clarion-Ledger | April 2, 2015 Hinds County Circuit Court Judge Winston Kidd (Photo: Rogelio V. Solis, AP) A judge ruled in favor of the Oxford mother who filed a lawsuit against the legislature's alternative to the Initiative 42 ballot...
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How Hobby Lobby Paved the Way for the Current Rush of Religious Freedom Laws

Legal experts say that widespread acceptance of gay marriage and the Supreme Court's Hobby Lobby decision have ushered in the current wave of states, including Indiana, trying to pass broad religious liberty bills this year.
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America's War on Illegal Drugs: The Shocking Scope of the Failure | Nomadic Politics

America's War on Illegal Drugs: The Shocking Scope of the Failure | Nomadic Politics | AUSTERITY & OPPRESSION SUPPORTERS  VS THE PROGRESSION Of The REST OF US | Scoop.it
If the War on Drugs has been a failure, as so many have claimed, it's helpful perhaps to ask what exactly went wrong. That's a question we will be taking a closer look at next week.
Firstly, in this post, we will look at the scope of the problem.
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Obama Would Sign Compromise Iran Bill As It Stands, White House Says

Obama Would Sign Compromise Iran Bill As It Stands, White House Says | AUSTERITY & OPPRESSION SUPPORTERS  VS THE PROGRESSION Of The REST OF US | Scoop.it
Republicans and Democrats on the Senate Foreign Relations Committee passed the measure, which would give Congress say over negotiations with Iran regarding its nuclear program.
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The House Republican Budget Plan Destroys Medicare and Makes Health Care Unaffordable for Beneficiaries

The House Republican Budget Plan Destroys Medicare and Makes Health Care Unaffordable for Beneficiaries | AUSTERITY & OPPRESSION SUPPORTERS  VS THE PROGRESSION Of The REST OF US | Scoop.it
The House Budget Resolution for Fiscal Year 2015, H. Con. Res. 96, introduced by Budget Committee Chairman Paul Ryan (R-WI), was passed by the House of Representatives on April 10, 2014. It would end traditional Medicare, make it harder for seniors to choose their own doctors, and increase health care costs for both current and future retirees. The House Republican budget ends traditional Medicare and achieves savings for the federal government by shifting costs to Medicare beneficiaries.
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Stop this secret trade agreement that would censor the Internet.

Stop this secret trade agreement that would censor the Internet. | AUSTERITY & OPPRESSION SUPPORTERS  VS THE PROGRESSION Of The REST OF US | Scoop.it
Congress is pushing legislation right now that would 'Fast Track' the Trans-Pacific Partnership -- a secretive agreement negotiated behind closed doors by government bureaucrats and more than 600 corporate lobbyists. It threatens everything you care about: democracy, jobs, the environment, and the Internet.
Monica S Mcfeeters's insight:

Watch it please! Share fast and ring state reps phones off the wall…….This is a big one and really matters! In Mississippi at least the recent newsletter from Wicker says he loves this and wants to support Obama to cut this deal fast. American Legislative Exchange Council (ALEC) is a "big business" and rich person private club and includes (ALEC) members from our Elected Officials will be behind their big money donors on this so will the Rove PAC money receivers because big oil money runs thick to those officials.

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Man unwittingly attends Obama roundtable

Man unwittingly attends Obama roundtable | AUSTERITY & OPPRESSION SUPPORTERS  VS THE PROGRESSION Of The REST OF US | Scoop.it
The employee thought he would be sitting in the audience at a news conference.
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The Civil War Isn't Over - The Atlantic

The Civil War Isn't Over - The Atlantic | AUSTERITY & OPPRESSION SUPPORTERS  VS THE PROGRESSION Of The REST OF US | Scoop.it
From Reconstruction to Jim Crow to the Civil Rights era to the present, Americans have fought over the great issues at the heart of the conflict.
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Judge Denies Justice Department's Request To Lift Hold On Obama Immigration Action

Judge Denies Justice Department's Request To Lift Hold On Obama Immigration Action | AUSTERITY & OPPRESSION SUPPORTERS  VS THE PROGRESSION Of The REST OF US | Scoop.it

HOUSTON (AP) — A federal judge on Tuesday denied a Justice Department request to lift a temporary hold on President Barack Obama's executive action that sought to shield millions of immigrants from deportation.


Via Bobby Rodrigo
Monica S Mcfeeters's insight:

I think that if these trade agreement were made with the best interest of workers as well as customers Mexicans could afford to stay home in Mexico. Allowing companies like Panasonic to to pay $70 a week encourages any one that is the least ambitious to seek a job mowing 3 small yards in a day in the states over such pitiful pay. We support this abuse of workers and other citizens by allowing these countries to market here and then by buying their products. If we design trade partnerships that hurt citizens here and abroad than we should not be surprised when they run from such bad plans. Our policy affects those in other countries.

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EXCLUSIVE: Alleged mob promotion offer not relevant: lawyer

EXCLUSIVE: Alleged mob promotion offer not relevant: lawyer | AUSTERITY & OPPRESSION SUPPORTERS  VS THE PROGRESSION Of The REST OF US | Scoop.it
Getting promoted to the powerful position of consigliere in a Mafia crime family apparently isn’t what it was once cracked up to be.
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Gunman in Kenya university massacre ID'd as son of official

Gunman in Kenya university massacre ID'd as son of official | AUSTERITY & OPPRESSION SUPPORTERS  VS THE PROGRESSION Of The REST OF US | Scoop.it
One of the gunmen who slaughtered 148 people at a college in Kenya was the law-school-educated son of a Kenyan government official.
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Union big Victor Gotbaum dead at 93

Union big Victor Gotbaum dead at 93 | AUSTERITY & OPPRESSION SUPPORTERS  VS THE PROGRESSION Of The REST OF US | Scoop.it
Legendary labor leader Victor Gotbaum, who helped save New York City from bankruptcy in 1975, died Sunday. He was 93.
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The Future of World Religions: Population Growth Projections, 2010-2050

The Future of World Religions: Population Growth Projections, 2010-2050 | AUSTERITY & OPPRESSION SUPPORTERS  VS THE PROGRESSION Of The REST OF US | Scoop.it
As of 2010, nearly a third of the world's population identified as Christian. But if demographic trends persist, Islam will close the gap by the middle of the 21st century.
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Most Americans Want Their State To Make Voter Registration Easier - Huffington Post

Most Americans Want Their State To Make Voter Registration Easier - Huffington Post | AUSTERITY & OPPRESSION SUPPORTERS  VS THE PROGRESSION Of The REST OF US | Scoop.it
WASHINGTON -- Earlier this month, Oregon became the first state in the nation to automatically register voters using data from the Department of Motor Vehicles, a move that stands in contrast to voting restrictions many states have enacted in...
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The Puerto Rican Problem - The New Yorker

The Puerto Rican Problem - The New Yorker | AUSTERITY & OPPRESSION SUPPORTERS  VS THE PROGRESSION Of The REST OF US | Scoop.it
Puerto Rico should be a tourist mecca. So why is it trapped in an economic slump?
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