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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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The Bush Administration Whistleblower Who Says the US Has Not Closed the Door on Torture

VICE News spoke to Lawrence Wilkerson, the former chief of staff to Secretary of State Colin Powell, about the abuses committed in the name of the War on Terror and Britain's role in the CIA's rendition program.
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GOP Hopefuls To Talk Economic Growth at Koch Brothers Event

GOP Hopefuls To Talk Economic Growth at Koch Brothers Event | AUSTERITY & OPPRESSION SUPPORTERS  VS THE PROGRESSION Of The REST OF US | Scoop.it
Sens. Rand Paul, Ted Cruz and Marco Rubio to attend.
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One time chronicler of Anonymous, Barrett Brown, sentenced to five years

One time chronicler of Anonymous, Barrett Brown, sentenced to five years | AUSTERITY & OPPRESSION SUPPORTERS  VS THE PROGRESSION Of The REST OF US | Scoop.it
The so-called unofficial spokesman of Anonymous was sentenced in Dallas on Thursday for linking to stolen documents. His supporters say he was punished for doing his job as a reporter writing about hackers.
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Yemen chaos puts uncertainty into Obama terror fight – or does it? (+video)

Yemen chaos puts uncertainty into Obama terror fight – or does it? (+video) | AUSTERITY & OPPRESSION SUPPORTERS  VS THE PROGRESSION Of The REST OF US | Scoop.it
Yemen, home to Al Qaeda’s most potent and threatening branch, has for years worked closely with the US on counterterrorism efforts. But on Thursday, the country’s president, prime minister, and cabinet resigned.
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US tech giants launch fierce fightback against global tax avoidance crackdown

US tech giants launch fierce fightback against global tax avoidance crackdown | AUSTERITY & OPPRESSION SUPPORTERS  VS THE PROGRESSION Of The REST OF US | Scoop.it
Lobbyists representing firms including Google, Amazon and Apple claim ‘fundamental flaws’ in G20-led reformsLobby groups representing Google, Amazon and other powerful US tech multinationals have launched a fierce attack on global plans to stamp...
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The Long Struggle for Wage Equality for Women and Republican Road Blocks | Nomadic Politics

The Long Struggle for Wage Equality for Women and Republican Road Blocks | Nomadic Politics | AUSTERITY & OPPRESSION SUPPORTERS  VS THE PROGRESSION Of The REST OF US | Scoop.it
Wage equality for women has been a long and difficult road, dating the Roosevelt era and before. Down through the years, step by step, progress against pay discrimination has plodded along, despite the numerous obstacles. However, that struggle came to an abrupt halt last April when Republican Senators decided to shut down legislation to curb pay discrimination based on gender. But the question is: will they pay a price in November?
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Republicans and Wall Street Say To Hell With Protecting the Public!

Republicans and Wall Street Say To Hell With Protecting the Public! | AUSTERITY & OPPRESSION SUPPORTERS  VS THE PROGRESSION Of The REST OF US | Scoop.it
Since December, Congress has twice passed measures to weaken regulations in the Dodd-Frank financial law that are intended to reduce the risk of another financial meltdown.
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Most public school kids are in low-income families: analysis

Most public school kids are in low-income families: analysis | AUSTERITY & OPPRESSION SUPPORTERS  VS THE PROGRESSION Of The REST OF US | Scoop.it
For the first time in at least 50 years, a majority of kids enrolled in U.S. public schools come from low-income families.
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What's behind the anti-Charlie Hebdo protests?

What's behind the anti-Charlie Hebdo protests? | AUSTERITY & OPPRESSION SUPPORTERS  VS THE PROGRESSION Of The REST OF US | Scoop.it
Most Muslims and non-Muslims say that being against Charlie Hebdo's provocative work is not the same as supporting the lethal attack on the magazine.
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Russia Cuts Off Ukraine Gas Supply To 6 European Countries

Russia Cuts Off Ukraine Gas Supply To 6 European Countries | AUSTERITY & OPPRESSION SUPPORTERS  VS THE PROGRESSION Of The REST OF US | Scoop.it
Vladimir Putin ordered the Russian state energy giant Gazprom to cut supplies to and through Ukraine amid accusations, according to The Daily Mail, that its neighbor has been siphoning off and stealing Russian gas.
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Hold data on EU citizens? Check if you'll be compliant with the new Data Protection Regulation

Hold data on EU citizens? Check if you'll be compliant with the new Data Protection Regulation | AUSTERITY & OPPRESSION SUPPORTERS  VS THE PROGRESSION Of The REST OF US | Scoop.it
The upcoming EU Data Protection Regulation applies to all organisations that hold data on EU citizens, even if they are not based in an EU country. Does your organisation comply with the new rules?

Via Gust MEES
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Gust MEES's curator insight, January 16, 11:07 AM

The upcoming EU Data Protection Regulation applies to all organisations that hold data on EU citizens, even if they are not based in an EU country. Does your organisation comply with the new rules?


Learn more:


https://gustmees.wordpress.com/2013/12/21/privacy-in-the-digital-world-shouldnt-we-talk-about-it/


tentuseful's comment, January 17, 4:16 AM
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Five side jobs that can supplement your income

Five side jobs that can supplement your income | AUSTERITY & OPPRESSION SUPPORTERS  VS THE PROGRESSION Of The REST OF US | Scoop.it
Whether you're struggling to get by or want to put money away for a wedding or vacation, extra cash flow never hurts. Here are five ways to supplement your income without doing a ton of extra work. 
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US-Cuba relations: why Republicans are divided on new rules (+video)

US-Cuba relations: why Republicans are divided on new rules (+video) | AUSTERITY & OPPRESSION SUPPORTERS  VS THE PROGRESSION Of The REST OF US | Scoop.it
The new US regulations on travel and trade, which take effect Friday, were both condemned and praised by Senate Republicans, suggesting a lack of unanimity that will likely make for relatively smooth sailing for President Obama’s new tack on Cuba.
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China's Anti-Graft Fridays - Daily Beast

China's Anti-Graft Fridays - Daily Beast | AUSTERITY & OPPRESSION SUPPORTERS  VS THE PROGRESSION Of The REST OF US | Scoop.it
The Chinese President's anti-corruption campaign is picking up steam, but is it truly just for the good of the country or is he building a new power base?
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The Worst Koch-Funded Lies About Climate... - Koch Brothers Exposed | Facebook

The Worst Koch-Funded Lies About Climate Change in 90 Seconds
SHARE because climate change is real and irreversible!
WATCH THE FULL FILM FREE:...
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Cuba and US come to a crossroad on human rights

Cuba and US come to a crossroad on human rights | AUSTERITY & OPPRESSION SUPPORTERS  VS THE PROGRESSION Of The REST OF US | Scoop.it
As the United States and Cuba continue discussions, the U.S. makes human rights a sticking point.
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Saudi Arabia's King Abdullah was incremental reformer, US ally (+video)

Saudi Arabia's King Abdullah was incremental reformer, US ally (+video) | AUSTERITY & OPPRESSION SUPPORTERS  VS THE PROGRESSION Of The REST OF US | Scoop.it
King Abdullah of Saudi Arabia, who Saudi state TV says has died, sought to counter Iran's influence in the Middle East while opposing pro-democracy movements at home.
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Barack Obama's epic Republican smackdown has made him an internet hero

Barack Obama's epic Republican smackdown has made him an internet hero | AUSTERITY & OPPRESSION SUPPORTERS  VS THE PROGRESSION Of The REST OF US | Scoop.it
Barack Obama delivered his first State of the Union address in front of a Republican-controlled Congress last night - and made sure he got the upper hand with the ultimate presidential "burn".
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Republicans embrace fair use (and Taylor Swift) to hit Obama

Many Republicans like to take a hard line against perceived pirates who use copyright without permission  – but what if those people included their own staff members?
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Moving swiftly, US eases travel and trade rules on Cuba - Yahoo News

Moving swiftly, US eases travel and trade rules on Cuba - Yahoo News | AUSTERITY & OPPRESSION SUPPORTERS  VS THE PROGRESSION Of The REST OF US | Scoop.it
WASHINGTON (AP) — Swiftly expanding trade ties with Cuba, the Obama administration opened the door to easier travel and a wide range of new export opportunities with the communist island starting Friday, punching the biggest hole to date in...
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Solving the Chickenhawk Problem: Is It All Up to the Vets?

Solving the Chickenhawk Problem: Is It All Up to the Vets? | AUSTERITY & OPPRESSION SUPPORTERS  VS THE PROGRESSION Of The REST OF US | Scoop.it
An interesting reply from a reader who has just left the Air Force after six years as an officer: You wrote your article to talk about the importance of an engaged citizenry that thought and talked about the military past the simple "thank you for...
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Belgium puts military in place amid terror threats in Europe

Belgium puts military in place amid terror threats in Europe | AUSTERITY & OPPRESSION SUPPORTERS  VS THE PROGRESSION Of The REST OF US | Scoop.it
Soldiers fanned out to guard possible terror targets across Belgium Saturday.
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CISPA is back, Corporations and government sharing your data with each other. What could be better? | AgainstCronyCapitalism.org

CISPA is back, Corporations and government sharing your data with each other. What could be better? | AgainstCronyCapitalism.org | AUSTERITY & OPPRESSION SUPPORTERS  VS THE PROGRESSION Of The REST OF US | Scoop.it
CISPA is back, Corporations and government sharing your data with each other. http://t.co/PXKjlcqGld via @AgainstCronyCap
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Charlie Hebdo: Can 'moderate' Muslims sway an extremist few?

Charlie Hebdo: Can 'moderate' Muslims sway an extremist few? | AUSTERITY & OPPRESSION SUPPORTERS  VS THE PROGRESSION Of The REST OF US | Scoop.it
A German jihadi cheerfully extolling the virtues of slavery and beheading is an example of how difficult that task would be.
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Obama immigration policies could protect 238K in NYC

Obama immigration policies could protect 238K in NYC | AUSTERITY & OPPRESSION SUPPORTERS  VS THE PROGRESSION Of The REST OF US | Scoop.it
An estimated 238,000 immigrants living illegally in New York City could get protection from deportation thanks to Obama: report.
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