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The Tax men

Original post made by Ted Rudow III, MA, Palo Alto High School, on Apr 15, 2011


As millions of Americans prepare to file their income taxes ahead of Monday's deadline, corporations and the wealthy use offshore banks and tax havens to avoid paying taxes and other governmental regulations.
"Tax havens have grown so fast in the era of globalization, since the 1970s, that they are now right at the heart of the global economy and are absolutely huge. There are anywhere between $10 and $20 trillion sitting offshore at the moment. Half of world trade is processed in one way or another through tax havens."
British journalist Nicholas Shaxson
They'll pay them anything, because they're the ones that rake in all those billions of dollars that the U.S. Government has available to throw around and waste on arms, missiles, atom bombs and a huge paid military! No one is any longer a poor underpaid soldier. That why the U.S. debt is now running around 14 trillion dollars.
It is the only budget plan that calls for a responsible end to the U.S. wars in Afghanistan and Iraq, bringing our troops and our tax dollars home. It is the only plan that calls for real tax reform, addressing the giveaways to billionaires, millionaires, and corporations. It is the only budget plan that calls for continued and substantial investment in job creation, education, and infrastructure. And it is the only plan that won't destroy or severely restrict critical social spending.


Comments (5)

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Posted by tax men, redux , san
a resident of Another Palo Alto neighborhood
on Apr 15, 2011 at 11:20 am

As we send off our working wages tax, some notes to make one ill.

Corporations buy politicians to create tax policy.

It is part of the plan: republicans take care of the top 2% so that the top 2% will take care of the republican party. I read that around here this week. Cute. When it comes to lobbying, democrats aren't immune either.

Corporations lobby to get the best politicians that money can buy. Harsh? No. They've bribed, I mean lobbied Washington with a BILLION DOLLARS in the last decade to get their way and screw the working folks. Think I'm exaggerating? Perhaps a few examples...

We get a tax code for written by corporations for corporations: Web Link

EXXON MOBIL: The oil giant that was the world's most profitable corporation in 2008 has spent $5.7 million in campaign contributions over the last ten years and $138 million in lobbying expenditures. Its federal corporate income tax liabilities for 2009? Absolutely nothing. Not only did it pay nothing, but it also received a tax rebate the same year of $156 million.

GOLDMAN SACHS: The mega-bank Goldman Sachs, which is often called "Government Sachs" in insider circles because of its clout over Washington, spent $22 million in campaign contributions and $21 million in lobbying over the last decade. It paid an ultra-low tax rate of 1.1 percent in 2008, while also receiving $800 billion in governmentloans to help weather the financial crisis.

GENERAL ELECTRIC: General Electric spent $13 million in campaign contributions and $205 million in lobbying expenditures over the last decade while netting a tax refund of $4.1 billion over the past five years. It made $26 billion in profits over the same time period.

Answer: public finance. A corporation is NOT a person, and should not have free speech. It is a licensed entity, not a human being. It should not be allowed to buy politicians.

Have to start somewhere.




 +   Like this comment
Posted by HUTCH 7.62
a resident of Old Palo Alto
on Apr 25, 2011 at 9:45 pm

Wonder how many Palo Altans are guilty of having offshore bank accounts???


 +   Like this comment
Posted by Perspective
a resident of Barron Park
on Apr 29, 2011 at 11:28 am

Yup, those horrid Republicans who were in bed with Fannie Mae and Freddie Mac, a revolving door between being a lobbyist, a Congressional buddy, and a board of director for one of those banks, whose banks were given TARP bailouts and chosen as "winners" while other banks "failed", who bailed out their union friend in GM while screwing the bondholder for the first time in our Contract law history, who set up GE to pay no taxes at all, who take 40-60 cents of each gallon of gas and use the money as they wish, leaving only 2 Cents per gallon profit for the people who do the work of bringing us the gas ( the Oil companies)...

Oh ..wait..sorry, I take it all back, those are the Democrats I was talking about.

No matter who is in power, cronyism stinks, picks winners and losers, screws up the system, destroys honest people, changes the rules of the game and creates havoc..it is bad.


 +   Like this comment
Posted by Alfred E Newman
a resident of Atherton
on Apr 29, 2011 at 12:23 pm

perspective:

Your rant has so many failures, one has to wonder why bother to correct your egregious errors. The only reason is that some folks will read your trash and just nod their head and not know better. Let's take the worst:

* "...banks were given TARP bailouts..." TARP was set up under George Bush, you remember the guy who has an "R" after his name?

* "...who set up GE to pay no taxes at all..." Huh?!? Show links attempting to prove this absurd claim that the tax code for GE was set up specifically by Democrats.

* "...bailed out their union friend in GM..." The unions were not lent the money, GM was. GM paid it back in full with interest. The action saved American manufacturing jobs during the worst recession since the First Republican Great Depression. Are you the last partisan to not recognize how that helped our country?

* "...leaving only 2 Cents per gallon profit for the people who do the work of bringing us the gas ( the Oil companies)..." Exxon just declared this week obscene profits. The 2nd highest profit by ANY company, in ANY industry, at ANY time IN THE HISTORY OF THE WORLD. They get YOUR tax dollars in subsidies and paid NO TAXES in 2009.

What planet are you living on that allows you to type trash about "poor oil companies"?!?!? Three quarters of their political donations go to the GOP.

Ranting against saving American companies and jobs, suggesting the Big Oil is oppressed, along with your other fabrications, just shows how partisan you are - nothing in your mind, can be done correctly by the "other" party.

You are as out of touch with reality as any poster I've read in a while.

This thread is about the tax code, but thanks for showing readers just how far out of the norm some fringe posters can be.

Turn off Beck and Rush.


 +   Like this comment
Posted by Alfred E Newman
a resident of Atherton
on Apr 29, 2011 at 12:35 pm

pers:

Maybe you're worried about Exxon's profits this year being only the SECOND highest of any company in history; don't worry, the record is still theirs, from a couple years ago"

www. catholic. org /business/story.php?id=41225

"Exxon's profit of $10.65 billion for the first quarter was its highest since it made $14.83 billion in the third quarter of 2008...

The industry is fighting a renewed push from President Barack Obama and Democrats to end its $4 billion a year in taxpayer subsidies."

How did you feel on April 15th about the $4billion given to poor little 98 lb weakling Exxon?


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