Tuesday, November 08, 2011
A video by Softbox : Federal Government Deficit & War: What Eats Up 53 Cents Of Every Tax Dollar?
I post this coming from neither a pro nor anti war angle, but when both sides in Washington sit around and start pointing fingers at each other about who caused the deficit and wailing about how their party is not to blame, there is one gorilla in the room everyone tends to ignore...
I'm just saying, you know... The Republicans were in office when we went in. Still, someone should have thought about how we were going to pay for this back in the day...
Chart: Corporate Profits vs. Unemployment, 2001-2010 - The Top GOP Myth And What You Can Use To Fight It
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| Found on MotherJones. Originally submitted to MoveOn.org by volunteer editor Jessica S. |
The Top GOP Myth And What You Can Use To Fight It | MoveOn.Org:
Do lower taxes, and therefore higher profits, mean more jobs? See for yourself:
'via Blog this'
Republicans Too Liberal For Today's GOP: Theodore Roosevelt
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| Found on Facebook. Originally submitted to MoveOn.org by Laura S. |
To announce that there must be no criticism of the president, or that we are to stand by the President right or wrong is not only unpatriotic and servile, but is morally treasonable to the American public.
-Theodore Roosevelt
Exploring income inequality in America
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| From 2011-10-06 Occupy Portland |
This first link goes to a video by Yahoo News... Not much to say here. The article and video pretty much speak for themselves.
Remake America: Income Inequality - Yahoo! News:
Five ways income inequality happened, and will continue | Reuters:
The reasons for the growing disparity, which the CBO, without irony, measured by an increasing "Gini coefficient," were buried deep in the report. It's how income was taxed that allowed the ultra-wealthy to keep more of what they earned compared to middle- or lower-class Americans.
INVESTMENT INCOME EARNERS ARE TAXED LESS
Most lower- and middle-class earners make their money from wages, which are subject to Social Security, Medicare, federal and state taxes. But income from businesses, capital gains and dividends may be taxed at lower rates. In the CBO study period, the share from capital gains and business income increased, meaning upper-income families reaped greater after-tax benefits just from the kinds of non-wage income they reported.
When you're on salary, you get taxed regularly through your paycheck. If you hold stocks, bonds, business equity and property, your capital gains -- if any -- can be delayed for years. Holding securities in tax-deferred retirement accounts can put off taxes for decades.
EXECUTIVES AND FINANCIAL PROFESSIONALS DID BEST
Again, no surprise here. But when you can structure your compensation so that it's tax-deferred, paid in stock options or paid as capital gains, dividends or carried interest, you can pay much less to Uncle Sam and keep more of your income. Long-term capital gains, dividends and carried interest are taxed at a maximum 15 percent rate.
When the bulk of your income comes in those forms, you avoid taxes at the maximum 35-percent marginal federal rate. So those at the top of the compensation pyramid not only made more in gross income, their overall tax rates were lower because of how their pay was received. Billionaire Warren Buffett is a good example. His average rate was 17.4 percent.
LOWER-INCOME HOUSEHOLDS PAY MORE IN PAYROLL TAXES
Since the highest earners were paying less in overall taxes because they were paid in non-wage income, their payroll tax rate was also lower. The CBO found that the lowest fifth of families paid an average 8 percent in payroll taxes while the highest-income group paid under 2 percent.
Why are the poor paying quadruple the amount of payroll taxes than the rich?
They are unlikely to report investment or business income at the lowest rates. Attention tax reformers: You could make a case that the wealthiest Americans are not paying their fair share for Social Security, Medicare, state and federal programs. But since the tax code allows them to avoid paying any more, it's perfectly legal now.
'via Blog this'
Related Post: A good chart on income inequality: The top 1% versus the Median Income since 1947
A Simple Graphic: 1 in 4 Millionaires Pays Lower Taxes Than The 99% | MoveOn.Org:
Source: Center For American Progress
Found on Center For American Progress. Originally submitted by volunteer editor Jayne C.
'via Blog this'
Monday, November 07, 2011
An amazing, wonderful video: Charlie Chaplin's speech in The Great Dictator
Video description by thelakeysisters on YouTube:
(Song: Window by The Album Leaf) One of the most inspirational speeches in recorded history was given by a comedian by the name of Charlie Chaplin. If you like what you see please share the video any way you can and pass the message on.I do, however, agree with this comment from tminusquigley on YouTube:
I truly love the message of this video, but this is from the movie The Great Dictator, and Chaplin is decrying the sins of fascism and of the dictators of the day. When he's talking about evil dictators, he's talking about Hitler and Mussolini, Goebbels and Goring. Our presidents have made mistakes, but the faces of the past presidents do not belong in the same reference as those men.
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