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.


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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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This Short Seller Pressed ‘Tweet.’ Then the FBI Showed Up - Bloomberg

This Short Seller Pressed ‘Tweet.’ Then the FBI Showed Up - Bloomberg | AUSTERITY & OPPRESSION SUPPORTERS  VS THE PROGRESSION Of The REST OF US | Scoop.it
Cohodes’s posts were ‘threat to my life,’ says MiMedx’s Petit; rival sees overreach by the feds.
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#Amazon passes #Microsoft to become the 3rd-largest U.S. company

#Amazon passes #Microsoft to become the 3rd-largest U.S. company | AUSTERITY & OPPRESSION SUPPORTERS  VS THE PROGRESSION Of The REST OF US | Scoop.it

Amazon’s market cap of $702.5 billion is above No. 4 Microsoft’s $699.2 billion, but still well below No. 2 Alphabet’s $745.5 billion.


Via THE OFFICIAL ANDREASCY, CineversityTV
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THE OFFICIAL ANDREASCY's curator insight, February 15, 2:15 AM

Amazon has knocked Microsoft off the podium to take over as the third-largest U.S. company by market cap.

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Understanding Mike Pence And His Relationship To Trump: 'His Public Role Is Fawning' : NPR

Understanding Mike Pence And His Relationship To Trump: 'His Public Role Is Fawning' : NPR | AUSTERITY & OPPRESSION SUPPORTERS  VS THE PROGRESSION Of The REST OF US | Scoop.it
Though President Trump ran as an outsider, New Yorker writer Jane Mayer describes his vice president as "the connective tissue" between Trump and the billionaire donors in the Republican party.
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Trump Administration Wants To Decide What Food SNAP Recipients Will Get : The Salt : NPR

Trump Administration Wants To Decide What Food SNAP Recipients Will Get : The Salt : NPR | AUSTERITY & OPPRESSION SUPPORTERS  VS THE PROGRESSION Of The REST OF US | Scoop.it
The proposed changes to food stamps, now called SNAP, would be drastic: About half the benefits would be boxed-up, nonperishable foods. Recipients would lose a lot of their ability to pick their food.
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Omarosa Is Right: Why President Pence Could Be More Terrifying Than Trump | Vanity Fair

Omarosa Is Right: Why President Pence Could Be More Terrifying Than Trump | Vanity Fair | AUSTERITY & OPPRESSION SUPPORTERS  VS THE PROGRESSION Of The REST OF US | Scoop.it
“We would be begging for days of Trump back if Pence became president,” the former White House aide warned.
Monica S Mcfeeters's insight:
This article is totally on target about Pence being owned by the Koch’s and wrapped up in fake self righteous armor. He plays aborted babies like a song to climb up the ladder to power. Trump is getting most of his orders from the Koch’s Heritage Foundation but at least he occasionally runs off track till they whip him in line with Pence and their other official pal tools.
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Trump unveils long-awaited infrastructure proposal

Trump unveils long-awaited infrastructure proposal | AUSTERITY & OPPRESSION SUPPORTERS  VS THE PROGRESSION Of The REST OF US | Scoop.it
Critics are already calling Trump's approach 'fake' for its lack of new revenue and because of its reliance on funding from local governments and private investors.
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Van Jones: US can't do basic stuff anymore - CNN Video

Van Jones: US can't do basic stuff anymore - CNN Video | AUSTERITY & OPPRESSION SUPPORTERS  VS THE PROGRESSION Of The REST OF US | Scoop.it
CNN's Van Jones says the government is failing to do "basic stuff" such as approving a budget.
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OPEC's Oil Price Nightmare Is Coming True - Bloomberg

OPEC's Oil Price Nightmare Is Coming True - Bloomberg | AUSTERITY & OPPRESSION SUPPORTERS  VS THE PROGRESSION Of The REST OF US | Scoop.it
U.S. shale production is surging on higher crude, now the fear is waning demand growth.
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Memes & Tweets Roasting Mike Pence During The Olympics Opening Ceremony

Memes & Tweets Roasting Mike Pence During The Olympics Opening Ceremony | AUSTERITY & OPPRESSION SUPPORTERS  VS THE PROGRESSION Of The REST OF US | Scoop.it
On Friday night, NBC aired the intricately choreographed opening ceremony of the 2018 Winter Olympics in PyeongChang, South Korea. In addition to all the pageantry, it also provided viewers with a reminder of precisely who's leading the American dele…
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Pennsylvania GOP lawmaker: Impeach justices for ruling against gerrymander scheme

Pennsylvania GOP lawmaker: Impeach justices for ruling against gerrymander scheme | AUSTERITY & OPPRESSION SUPPORTERS  VS THE PROGRESSION Of The REST OF US | Scoop.it
This is a shocking and dangerous assault on the judiciary.
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Saudi Reforms Get a Boost From Google | Belfer Center for Science and International Affairs

Saudi Reforms Get a Boost From Google | Belfer Center for Science and International Affairs | AUSTERITY & OPPRESSION SUPPORTERS  VS THE PROGRESSION Of The REST OF US | Scoop.it
Since Crown Prince Mohammed bin Salman announced his intention to transform this country nearly two years ago, Saudis and foreigners alike have questioned whether he is serious or merely enjoying power. The time for doubt is over. Last week’s news that Alphabet, Google’s parent company, is in talks to build a tech hub in the kingdom is only the latest sign. Look for more such initiatives when the crown prince visits the U.S. in early March.
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House GOP Leaves Crucial Infant Health Care Program Out of Spending Bill

House GOP Leaves Crucial Infant Health Care Program Out of Spending Bill | AUSTERITY & OPPRESSION SUPPORTERS  VS THE PROGRESSION Of The REST OF US | Scoop.it
The Maternal, Infant, and Early Childhood Home Visiting program, known as MIECHV, expired in September and is currently operating on leftover funds.
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Yeah! Family values party????

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Coalition deal reached in Germany

A grand coalition deal has been struck in Germany between Angela Merkel's CDU party and the SPD. Their leader, Martin Schulz has also announced that he wil

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The US is the world's second worst tax haven, say Tax Justice Networks ranking —

The US is the world's second worst tax haven, say Tax Justice Networks ranking — | AUSTERITY & OPPRESSION SUPPORTERS  VS THE PROGRESSION Of The REST OF US | Scoop.it
US senator Sheldon Whitehouse didn’t hold back when talking about America’s role as laundering the world’s dirty money on Tuesday, Feb 6. “Our European partners are doing their part to combat crime facilitated by shell corporations. If we don’t soon follow suit, I fear we will risk losing our place as that city on a hill and beacon of justice,” he said at a Senate Judiciary Committee hearing.

Last week, the US was ranked the world’s second worst jurisdiction for lack of financial transparency by the Tax Justice Network (TJN). The only more secretive country is Switzerland, according to the anti-corruption organization’s 2018 Financial Secrecy Index.

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To Fund US Infrastructure, Charge by the Mile, Not the Gallon

To Fund US Infrastructure, Charge by the Mile, Not the Gallon | AUSTERITY & OPPRESSION SUPPORTERS  VS THE PROGRESSION Of The REST OF US | Scoop.it
The gas tax is bad, and there's a better way forward.
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White House Budget Calls For Deep Cuts To HUD : NPR

White House Budget Calls For Deep Cuts To HUD : NPR | AUSTERITY & OPPRESSION SUPPORTERS  VS THE PROGRESSION Of The REST OF US | Scoop.it
The Trump administration wants to slash funding for the Department of Housing and Urban Development, including deep cuts to the federal housing subsidy known as Section 8.
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Consumer Protection Bureau To Lose Its Fangs Under Trump Administration's New Plan : NPR

Consumer Protection Bureau To Lose Its Fangs Under Trump Administration's New Plan : NPR | AUSTERITY & OPPRESSION SUPPORTERS  VS THE PROGRESSION Of The REST OF US | Scoop.it
The new head of the Consumer Financial Protection Bureau is making the agency less aggressive in its mission. A new plan calls for it to fulfill "its statutory responsibilities, but go no further."
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Israel confirms downed jet was hit by Syrian antiaircraft fire

Israel confirms downed jet was hit by Syrian antiaircraft fire | AUSTERITY & OPPRESSION SUPPORTERS  VS THE PROGRESSION Of The REST OF US | Scoop.it
It marks the first time Israel has lost a plane to enemy fire since 1982.
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Sen. Ron Wyden seeking admin records on Trump's sale of mansion to Russian - CNNPolitics

Sen. Ron Wyden seeking admin records on Trump's sale of mansion to Russian - CNNPolitics | AUSTERITY & OPPRESSION SUPPORTERS  VS THE PROGRESSION Of The REST OF US | Scoop.it
A senator is asking the Treasury Department to turn over records of a lucrative real estate sale Donald Trump made to a Russian billionaire as the Senate Finance Committee looks into Trump's ties to Russians.
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OPEC's Oil Price Nightmare Is Coming True - Bloomberg

OPEC's Oil Price Nightmare Is Coming True - Bloomberg | AUSTERITY & OPPRESSION SUPPORTERS  VS THE PROGRESSION Of The REST OF US | Scoop.it
U.S. shale production is surging on higher crude, now the fear is waning demand growth.
Monica S Mcfeeters's insight:
Here is what is happening if you are lucky enough to have some investments... the more investments joy have had over the last decade the more lucky you are!
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Trump blocks release of Democratic Russia memo

Trump blocks release of Democratic Russia memo | AUSTERITY & OPPRESSION SUPPORTERS  VS THE PROGRESSION Of The REST OF US | Scoop.it
The White House said the memo contained sensitive and classified information.
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Democrats want to increase ACA subsidies in stabilization bill - 

Democrats want to increase ACA subsidies in stabilization bill -  | AUSTERITY & OPPRESSION SUPPORTERS  VS THE PROGRESSION Of The REST OF US | Scoop.it
They're thinking bigger now that the individual mandate has been repealed.
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Trump supporters share the most “junk” news, conspiracy theories: study - Salon.com

Trump supporters share the most “junk” news, conspiracy theories: study - Salon.com | AUSTERITY & OPPRESSION SUPPORTERS  VS THE PROGRESSION Of The REST OF US | Scoop.it
Award-winning news and culture, features breaking news, in-depth reporting and criticism on politics, business, entertainment and technology.
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Democrats try to stop GOP-fueled Nevada recall - CNNPolitics

Democrats try to stop GOP-fueled Nevada recall - CNNPolitics | AUSTERITY & OPPRESSION SUPPORTERS  VS THE PROGRESSION Of The REST OF US | Scoop.it
Democrats are going to court in Nevada on Wednesday to try to stop a recall election that they fear could lead to new efforts to wipe out their majorities
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