AUSTERITY & OPPRESSION SUPPORTERS VS THE PROGRESSION Of The REST OF US
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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 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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UN says Saudi’s closure of Yemen’s seaports undoes progress in fight against famine and cholera

UN says Saudi’s closure of Yemen’s seaports undoes progress in fight against famine and cholera | AUSTERITY & OPPRESSION SUPPORTERS  VS THE PROGRESSION Of The REST OF US | Scoop.it
Caught in the crossfire between Houthi rebels and the Saudi-led pro-government coalition are 21 million people in need of humanitarian aid.
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Republicans’ beliefs are bending to Trump. Here’s why they might not even notice.

Republicans’ beliefs are bending to Trump. Here’s why they might not even notice. | AUSTERITY & OPPRESSION SUPPORTERS  VS THE PROGRESSION Of The REST OF US | Scoop.it
We don’t often remember when we change our minds.
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Trump calls Clinton 'biggest loser of all time' after she contests election loss

Trump calls Clinton 'biggest loser of all time' after she contests election loss | AUSTERITY & OPPRESSION SUPPORTERS  VS THE PROGRESSION Of The REST OF US | Scoop.it
President Trump on Saturday criticized Hillary Clinton, the Democrat he defeated in the 2016 White House race, for her recent and repeated questioning of the election results.
Monica S Mcfeeters's insight:
Russians did not affect my vote but research shows they absolutely affected enough people to have cost Hillary the additional states she needed. I wonder however why she and others didn’t and don’t focus on the corrupting influence that has hijacked the entire GOP and shaped the thinking of too many citizens in this nation? That would be in general be the twisted libertarian take over of the GOP by Cato Institute, The Heritage Foundation, ALEC American Legislative Exchange Council and of course FOX News Corp serves these groups better for propaganda than Russia Today ever could,I do think Hillary hit the nail on the head here though. Were the people in the Trump campaign providing target information to Russian Propaganda efforts to assist them in their misinformation campaign? He and his people would have had access to this kind of info about Republican voters and swing voter targets and more. I personally get email straight from his people sent to me from my employer allowing his campaign access to my work email...I neversigned up to receive such mailExcerpt:“I think it was one of the major contributors to the outcome," she said. "Propaganda works. Advertising works. It's a form of propaganda. So the Russians may have started out a little heavy-handed and clumsy about it, but they were clearly getting guided as to where to target a lot of their fraudulent claims and phony news."
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Tax reform roadblocks emerge in Senate

Tax reform roadblocks emerge in Senate | AUSTERITY & OPPRESSION SUPPORTERS  VS THE PROGRESSION Of The REST OF US | Scoop.it
Sens. John McCain and Lisa Murkowski have been wildcards, avoiding taking a public position on the proposal.
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Kushner told Trump campaign staff to avoid meeting foreigners, lawyer claims

Kushner told Trump campaign staff to avoid meeting foreigners, lawyer claims | AUSTERITY & OPPRESSION SUPPORTERS  VS THE PROGRESSION Of The REST OF US | Scoop.it
An attorney for Senior Adviser to the President Jared Kushner said Friday that his client encouraged members of the Trump campaign to decline meetings with foreigners who go back home and claim they have special access to gain importance for themselves.
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Millions of kids at risk of losing health insurance if Congress doesn't act

Millions of kids at risk of losing health insurance if Congress doesn't act | AUSTERITY & OPPRESSION SUPPORTERS  VS THE PROGRESSION Of The REST OF US | Scoop.it
The deadline for renewing CHIP, the federal health insurance program for low-income children, passed while legislators were busy squabbling over Obamacare.
Monica S Mcfeeters's insight:
If you have family members that depend on CHIP you may want to get them Doctor visit gift cards for Christmas.
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Senate Plans to End Obamacare Mandate in Revised Tax Proposal

Senate Plans to End Obamacare Mandate in Revised Tax Proposal | AUSTERITY & OPPRESSION SUPPORTERS  VS THE PROGRESSION Of The REST OF US | Scoop.it
Republicans also said they would set all of their tax cuts for individuals to expire at the end of 2025, but deep cuts in the corporate tax rate would be permanent.

Via Demarcio Washington
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Richard Cordray Stepping Down As Head Of U.S. Consumer Protection Agency

Richard Cordray Stepping Down As Head Of U.S. Consumer Protection Agency | AUSTERITY & OPPRESSION SUPPORTERS  VS THE PROGRESSION Of The REST OF US | Scoop.it
The embattled director of Consumer Financial Protection Bureau says he will resign by the end of November. Cordray was a frequent target of Republican lawmakers for his tough stance on banks
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Congress abandons constraints on Kurdish aid

Congress abandons constraints on Kurdish aid | AUSTERITY & OPPRESSION SUPPORTERS  VS THE PROGRESSION Of The REST OF US | Scoop.it
US lawmakers wary of Iraqi Kurds’ independence push have shelved their concerns amid Baghdad’s Iran-backed push to reassert control.

Via Pierre Levy
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Some Of America's Wealthiest Tell Congress To Raise Their Taxes, Not Cut Them

Some Of America's Wealthiest Tell Congress To Raise Their Taxes, Not Cut Them | AUSTERITY & OPPRESSION SUPPORTERS  VS THE PROGRESSION Of The REST OF US | Scoop.it
More than 400 millionaires and billionaires penned a letter to Congress.
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What is America? A Republic? A Democracy? An Oligarchy? A Plutocracy? A Theocracy?

What is America? A Republic? A Democracy? An Oligarchy? A Plutocracy? A Theocracy? | AUSTERITY & OPPRESSION SUPPORTERS  VS THE PROGRESSION Of The REST OF US | Scoop.it
I'm not sure what America's form of government is anymore but, it is definitely not a democracy. A Democracy provides every legal citizen of a certai
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Saturday Night Live: Tiffany Haddish Shines Brightest When Playing Herself

Saturday Night Live: Tiffany Haddish Shines Brightest When Playing Herself | AUSTERITY & OPPRESSION SUPPORTERS  VS THE PROGRESSION Of The REST OF US | Scoop.it
The comedian was best when the show didn’t get in her way.
Monica S Mcfeeters's insight:
Scooping this just in case you missed this light take on serious life issues.
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Flynn worries about his son's legal exposure

Flynn worries about his son's legal exposure | AUSTERITY & OPPRESSION SUPPORTERS  VS THE PROGRESSION Of The REST OF US | Scoop.it
Former Trump adviser Michael Flynn has expressed concern about the potential legal exposure of his son in Robert Mueller's investigation, sources tell CNN.
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Donald Trump Is Shutting Down His Charitable Foundation

Donald Trump Is Shutting Down His Charitable Foundation | AUSTERITY & OPPRESSION SUPPORTERS  VS THE PROGRESSION Of The REST OF US | Scoop.it
Trump had been accused of using it as a political slush fund.
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Interesting!
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The Hidden History of Trump’s First Trip to Moscow

The Hidden History of Trump’s First Trip to Moscow | AUSTERITY & OPPRESSION SUPPORTERS  VS THE PROGRESSION Of The REST OF US | Scoop.it
In 1987, a young real estate developer traveled to the Soviet Union. The KGB almost certainly made the trip happen.
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Tax reform roadblocks emerge in Senate

Tax reform roadblocks emerge in Senate | AUSTERITY & OPPRESSION SUPPORTERS  VS THE PROGRESSION Of The REST OF US | Scoop.it
Sens. John McCain and Lisa Murkowski have been wildcards, avoiding taking a public position on the proposal.
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Kushner told Trump campaign staff to avoid meeting foreigners, lawyer claims

Kushner told Trump campaign staff to avoid meeting foreigners, lawyer claims | AUSTERITY & OPPRESSION SUPPORTERS  VS THE PROGRESSION Of The REST OF US | Scoop.it
An attorney for Senior Adviser to the President Jared Kushner said Friday that his client encouraged members of the Trump campaign to decline meetings with foreigners who go back home and claim they have special access to gain importance for themselves.
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Who Elected Donald Trump?

Who Elected Donald Trump? | AUSTERITY & OPPRESSION SUPPORTERS  VS THE PROGRESSION Of The REST OF US | Scoop.it
Emily Ekins has identified five different types of voters that elected Donald Trump as president. Do these groups represent a big shift in American politics?
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The left turns on Bill Clinton, Biden over behavior toward women

The left turns on Bill Clinton, Biden over behavior toward women | AUSTERITY & OPPRESSION SUPPORTERS  VS THE PROGRESSION Of The REST OF US | Scoop.it
In the wake of an outpouring of sexual misconduct allegations hitting the world of media and politics, the left is slowly but steadily turning on former President Bill Clinton -- and even former Vice President Joe Biden -- over their behavior toward women.
Monica S Mcfeeters's insight:
I always felt Bill Clinton should have passed Gore the Oval Office. It would have made him seem more honorable and given Gore a chance to prove himself. Even when he was in office he was more interested in hand the office to his wife and padding her resume for the job than he was for Gore.
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FCC moves to abandon rural telephone | Sean McLaughlin | AccessHumboldt.net

Access Humboldt joins opposition to FCC's move to push early retirement of copper telephone networks

Along with a broad range of consumer, rural, elderly, labor, civil and human rights, and low-
income organizations, Access Humboldt joined a letter to Federal Communications Commission chair Ajit Pai expressing concerns about his proposal for early retirement of legacy copper telephone networks serving large swaths of rural territory, including much of Humboldt County and the North Coast region.

Access Humboldt's executive director Sean McLaughlin said: "We join this effort to ensure that rural communities are not relegated to second class status in the digital future. Reasonable consumer protections are necessary to ensure that profit seeking corporations deliver reliable, robust and resilient telecom services to every community. We have a long history and a legacy social contract that has paid these private corporations a pretty sum to meet local needs and interests - having collected those funds, profiteers now seek to renege on their obligations as 'carriers of last resort.'"

The group's letter (online here https://ecfsapi.fcc.gov/file/11090039324560/Joint%20Wireline%20Broadband... and attached below) notes that: "Contrary to the proceeding’s stated purpose, the radical rule changes in the draft Report and Order will make it more difficult to achieve the very goals the Commission aims to achieve."


Click headline to read more and access hot links--


Via Chuck Sherwood, Senior Associate, TeleDimensions, Inc
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Consumer Financial Protection Bureau's Cordray to step down

Consumer Financial Protection Bureau's Cordray to step down | AUSTERITY & OPPRESSION SUPPORTERS  VS THE PROGRESSION Of The REST OF US | Scoop.it
Cordray, an Obama appointee, is leaving the consumer watchdog group and widely expected to run for Ohio governor
Monica S Mcfeeters's insight:
The GOP dreams come true to be allowed to throw consumers/Citizens to the wolves , vultures and vampires the GOP accept and love donations from.
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Do welfare states boost economic growth, or stunt it?

Do welfare states boost economic growth, or stunt it? | AUSTERITY & OPPRESSION SUPPORTERS  VS THE PROGRESSION Of The REST OF US | Scoop.it
Is it possible to calculate the net economic effect of a social security safety net?
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Human rights skirted at Asia summit as Trump rounds off tour

Human rights skirted at Asia summit as Trump rounds off tour | AUSTERITY & OPPRESSION SUPPORTERS  VS THE PROGRESSION Of The REST OF US | Scoop.it
Leaders of Asian nations meeting in Manila on Monday skirted around the mass exodus of Rohingya Muslims triggered by Myanmar's military crackdown, disappointing human rights groups who were hoping for a tough stand on the humanitarian crisis.
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Paul Manafort's House Cold Open - SNL

President Donald Trump (Alec Baldwin) checks in on Paul Manafort (Alex Moffat) and sends Melania Trump (Cecily Strong) to Asia in his place. #SNL #SNL43 Ge
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Cold opening..
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Rupert Murdoch Called AT&T's CEO Twice About CNN Sale: Report

Rupert Murdoch Called AT&T's CEO Twice About CNN Sale: Report | AUSTERITY & OPPRESSION SUPPORTERS  VS THE PROGRESSION Of The REST OF US | Scoop.it
Is there a Fox in the Time Warner merger deal?
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