Wednesday, December 06, 2017

Tax the Oligarchs


 The oligarchs in charge of the Republican Party have won the tax battle nationally. Now, the next step is our response.  California has long been cited as the 6th. or 7 th largest economy in the world. We should act upon this reality.
The oligarchs will cut the corporate tax from about 35% to near 20%.   California should raise its corporate tax ( franchise tax)  from 1.5% to 10%.
The oligarchs will eliminate the Estate Tax.
California should establish an estate tax of about 10% on estates larger than $5 million.  They will still get more of a tax cut than you or I get.  California  should recapture the money that the oligarchs are giving themselves in this looting of the economy.

 But, won’t these taxes place the state at a competitive disadvantage ?  Yes, the Republican tax victory forces states into a race to the bottom. We should try to avoid joining this race.

States already have significant differences in tax structures.  For example, Texas has a very high property tax and no state income tax.  And, it has a petroleum extraction tax that taxes all oil taken from the ground on the radical theory that natural resources belong to us all.
So, if California raised taxes on corporations and estates, we too would have differences in tax structures.

Tuesday, December 05, 2017

Tax Bill is a Major Step Toward Authoritarian Future

Democratic Socialist elected in Iowa


A Newly Elected Democratic Socialist on How to Win in Trump Country
“If we talk to people on issues in a universal way, we are going to get their vote.” That's how Pleasant Hill, Iowa's newest city councilperson, socialist Ross Grooters, says he won his seat, and how he thinks others can run and win, too. Grooters, whose day job is a locomotive engineer for Union Pacific Railroad, is active in Iowa Citizens for Community Improvement, a People's Action member organization. His city council campaign reflected many of the issues that he says animate him personally: the struggles working-class families like his own face with stagnant wages and rising health care costs, the anti-immigrant fervor dividing his community and a clean water battle that is pitting Iowa families against powerful corporate agricultural interests.

Wednesday, November 29, 2017

A Punishing Decade for School Funding | Center on Budget and Policy Priorities

A Punishing Decade for School Funding | Center on Budget and Policy Priorities

Sanders _ The Tax Bill is Immoral

For the past 40 years, the financial and political elite of this country have rigged the tax code to redistribute wealth and income to some of the richest and most powerful people in this country. The result: we are moving rapidly toward an oligarchic form of society in which the top 1 percent is doing phenomenally well, the middle class continues to decline and 40 million Americans are living in poverty.
And it will probably not surprise you to learn that just as our tax code benefits the wealthiest people in this country, it also benefits some of the largest and most profitable corporations in the world with a myriad of tax breaks, deductions, credits and other loopholes. As a result, one out of five large profitable corporations today pays nothing in federal taxes.

Sunday, November 26, 2017

The Problem With Fake News Is That 'People Want to Consume Information That Makes Them Feel Good, Because It Reaffirms Their Worldview' @alternet

The Problem With Fake News Is That 'People Want to Consume Information That Makes Them Feel Good, Because It Reaffirms Their Worldview' @alternet: Our relationship to information is entirely emotional. A year out from Donald Trump's astonishing and disturbing presidential win, it's become clear that the absolute sea of disinformation — much of which was Russia-funded and most of which was disseminated through the internet — was critical in helping push a know-nothing reality TV star–turned-wannabe-dictator into power. With the 2018 elections less than a year away, the pressing question now is: How we stop this from happening again?



Including fake news about immigrants and immigration.

Saturday, November 18, 2017

Trump/GOP Tax Plan is Class War


  Bill Barclay

The Trump/GOP “Unified Framework” tax plan has something for everyone – if by everyone you mean the wealthy, corporate and non-corporate businesses and the alt-right.  The plan embodies both the neoliberal class warfare that believes poor people have too much money and rich people have too little money and connects with the social conservative politics that the Trump and the GOP draws upon to mobilize its supporters. 
Class Warfare: I
Some of the class warfare politics of the Trump/GOP proposals are obvious; others less so.  The proposal provides a small tax cut for households in the bottom three quintiles, ranging from about 0.5 – 1.2% of after tax income in all cases well under the $1,182/family income boost claimed by Rep. Paul Ryan.  At the upper end of the income pyramid, the story is much different.  Over half of the total tax cuts for individuals will accrue to the top 1% of households, boosting their after tax incomes by 8.5%. Of course, life can be even better: the top 0.1% households would grab an average tax cut of almost $750,000, capturing over 30% of the total tax cuts for families and individuals.  
And Trump has not neglected people like himself.  He – and others in his income and wealth sphere – will gain in three ways from the changes in the individual income tax.  First, the elimination of the alternative minimum tax (AMT): in 2005, Trump paid $38.4 million on income over $150 million – but without the AMT he would have paid only $7.1 million. 
 
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