Posts tagged tax cuts for rich

Add It Up: Taxes Avoided by the Rich Could Pay Off the Deficit Conservatives force the deficit issue, ignoring job creation, and insisting that tax increases on the rich wouldn’t generate enough revenue to balance the budget. They’re way off. But it takes a little arithmetic to put it all together.  Individual and small business tax avoidance costs us $450 billion. Corporate tax avoidance is between $250 billion. Tax haven losses are at least $337 billion. That’s enough to pay off a trillion dollar deficit. Reasonable tax changes could nearly pay it off a second time: A non-regressive payroll tax could produce $150 billion in revenue. A minimal estate tax brings in another $100 billion. A financial transaction tax (FTT): up to $500 billion. Add it all up, and we’ve paid off the deficit, almost twice. More importantly, the avoided taxes and a few other sensible taxes could provide sufficient revenue for job stimulus without cutting the hard-earned benefits of middle-class Americans.

Add It Up: Taxes Avoided by the Rich Could Pay Off the Deficit

Conservatives force the deficit issue, ignoring job creation, and insisting that tax increases on the rich wouldn’t generate enough revenue to balance the budget. They’re way off. But it takes a little arithmetic to put it all together. 

  1. Individual and small business tax avoidance costs us $450 billion.
  2. Corporate tax avoidance is between $250 billion.
  3. Tax haven losses are at least $337 billion.

That’s enough to pay off a trillion dollar deficit. Reasonable tax changes could nearly pay it off a second time:

  1. A non-regressive payroll tax could produce $150 billion in revenue.
  2. A minimal estate tax brings in another $100 billion.
  3. A financial transaction tax (FTT): up to $500 billion.

Add it all up, and we’ve paid off the deficit, almost twice. More importantly, the avoided taxes and a few other sensible taxes could provide sufficient revenue for job stimulus without cutting the hard-earned benefits of middle-class Americans.

commondreams.org

Looks like a majority of the American people know how they would like things to be run…

Looks like a majority of the American people know how they would like things to be run…

americanprogress.org

Romney-Ryan 2012: The Go Back Team. 

Romney-Ryan 2012: The Go Back Team. 

gobackteam.com

Senate Votes to End Tax Breaks for Rich

The Senate on Wednesday voted 51 to 48 to extend tax cuts for most working Americans and end Bush-era tax breaks in 2013 for individuals making more than $200,000 a year and couples earning at least $250,000. “With a $16 trillion national debt and a $1 trillion deficit, we cannot continue to give tax breaks to millionaires and billionaires,” Sen. Bernie Sanders said after the vote. “This is a step forward in ending the Bush-era tax breaks for the rich and asking the wealthiest Americans, who are doing phenomenally well, to do their fair share to bring down deficits. I hope our Republican friends in the House can overcome their support for tax breaks for the wealthy and support this common-sense approach to cutting deficits.”

socialuprooting

Private Jets Of The Romney Campaign All of these companies are listed under “TRAVEL: AIR” in Mitt Romney’s January 2012 campaign finance report. In some cases they are private companies that own a single jet. In other cases they are charter jet companies. Amount paid to each company in parenthesis. Total spending on private jets was $1,008,144.23.

Private Jets Of The Romney Campaign

All of these companies are listed under “TRAVEL: AIR” in Mitt Romney’s January 2012 campaign finance report. In some cases they are private companies that own a single jet. In other cases they are charter jet companies. Amount paid to each company in parenthesis. Total spending on private jets was $1,008,144.23.

query.nictusa.com

House Republicans don’t actually cut the deficit, because they cut safety net programs to pay for tax cuts for the rich. 

House Republicans don’t actually cut the deficit, because they cut safety net programs to pay for tax cuts for the rich. 

destroythegop: one-angry-liberal: americawakiewakie: Tax Dodgers This is beautiful!  → We Pay Lobbyists, Not Taxes. ←

destroythegop:

one-angry-liberal:

americawakiewakie:

Tax Dodgers

This is beautiful! 

→ We Pay Lobbyists, Not Taxes. ←

america-wakiewakie