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Old 03-24-2013, 12:22 PM  
Bump Bump is offline
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Corporate Welfare. Employees taxes go directly to employers.

Now, this article does seem to be anti-republican, ignore the last paragraph. The facts still remain, if you work for a large corporation, the tax money withheld from your paycheck goes directly to the corporation for CEO bonus or something.

Republicans will say it helps creates jobs, etc. Democrats will say this is horrible. But truth is, it doesn't matter which side you are on. America is designed to feed to elite while shitting on the middle class, regardless of which party is in office. IMO, the USA has 1 party and that's the elite.


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"It’s now up to 21 states. In 21 states, they’ve passed a law that says that taxes withheld from your paycheck, for the state, can be kept by the company. Now, every employer doesn’t get this windfall — you have to have to get a deal from the government to do it — 2,700 big companies, every big company you’ve ever heard of, General Electric, Procter and Gamble, Deutsche Bank, you name it, they’ve got these deals, where they get to keep the taxes. Billions of dollars are diverted this way. You know the best thing for the companies about this?"


Taxes have been a part of government for as long as there have been things to tax, and the general idea behind them is pretty well understood. The government takes a portion of everyone’s income and spends it in such a way as to improve things for everyone in one way or another. That could be defensive spending, such as military technology or troop wages, administrative costs will always factor in, educational funding, etc. And that’s the way it works in America. Or is it? In truth, corporate lobbyists have ensured that our convoluted tax code heavily favors corporations. The fact is that it’s even possible, if you’re employed by a large corporation, that you’re paying your taxes directly toward your employing company.

In his recent book, The Fine Print, Pulitzer Prize-winning journalist David Cay Johnston explains the laws that allow corporations to go to war with the American working class. In an interview with Alternet, he said the following:

It’s now up to 21 states. In 21 states, they’ve passed a law that says that taxes withheld from your paycheck, for the state, can be kept by the company. Now, every employer doesn’t get this windfall — you have to have to get a deal from the government to do it — 2,700 big companies, every big company you’ve ever heard of, General Electric, Procter and Gamble, Deutsche Bank, you name it, they’ve got these deals, where they get to keep the taxes. Billions of dollars are diverted this way. You know the best thing for the companies about this?


The workers don’t know, because once the taxes are withheld, the state government treats you as having paid your taxes. You paid your taxes. They just then give a credit to let the company keep the taxes. I’ve called journalists. I’ve called union people who negotiate union contracts. And they say, “What are you talking about?” I showed them the work I’ve done. They go, “Oh my God!” They have no idea that this is what’s happening, and the fact that it’s spread from the 16 states when I first wrote about this and it’s now grown to 21 – eventually, all of the 44 states with income taxes are going to allow this, if we don’t put a stop to it.

He also addresses the fact that a lack of regulation is actually limiting to competition when it comes to capitalism, as more successful businesses will rapidly form industrial monopolies and oligarchies:

I want more competition. Here’s what really goes on, however. We put up barriers to competition, and in fact, Wall Street has institutionalized this concept. Morningstar, they’re a big financial advice firm. They tell people that they should grade companies and decide whether to buy their stock, based on something called a “moat index.” Moat, like around a castle? A moat index asks, “What barriers has the government erected to keep anybody else from competing against that company?” Indeed, as I show in my book, you could get rich if you invest in those companies that have regulatory moats — where under the name of deregulation, we have insulated them from the rigors of the market.

This is the real welfare in America. Corporate welfare. Where the rich get richer, and they pay other people to convince Republicans how important it is to vote for conservative puppet politicians that will vote for laws that allow “the American people” to keep more of their income tax dollars — which really benefits the rich. In reality, it’s the Republican Party that is engaging in wealth redistribution. The difference in their version? They’re redistributing wealth to the top.
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Old 03-24-2013, 02:21 PM   #16
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Old 03-24-2013, 04:25 PM   #17
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Originally Posted by Bump
n At one restaurant I worked at, 5 of the servers all had master degrees, one lady even had 2. Yet, they are working an unskilled job. That's just the way it is now, it may not be intended. But that's reality.
ya, I remember saying that? So what? they did have masters degrees. That's supposed to help get you a good job here in America. At least that's the impression you are under before and while you are in school.
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Old 03-24-2013, 04:38 PM   #18
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I wish my company didn't have to match employee income taxes. That would be great.
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Old 03-24-2013, 04:48 PM   #19
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ya, I remember saying that? So what?
Sorry I said anything Bump. Was never meant as cheap shot or jab
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Old 03-24-2013, 04:48 PM   #20
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ya, I remember saying that? So what? they did have masters degrees. That's supposed to help get you a good job here in America. At least that's the impression you are under before and while you are in school.
Schools tell you that you need more school, huh? Yeah, and the barber will tell you that you need a haircut.
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Old 03-24-2013, 04:51 PM   #21
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ya, I remember saying that? So what? they did have masters degrees. That's supposed to help get you a good job here in America. At least that's the impression you are under before and while you are in school.
Having marketable skills that can make someone money is what gets you a good job in america.

Too many people think a degree makes them entitled to six figures. I know people with college degrees and shitty jobs, and it's all because their degrees are worthless in terms of actual marketable skills. Instead they pick classes that make them feel smart (psychology is the #1 example of this) but provide limited opportunities in the private sector.

College isn't a golden ticket.
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Old 03-24-2013, 04:53 PM   #22
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Schools tell you that you need more school, huh? Yeah, and the barber will tell you that you need a haircut.
Bingo.
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Old 03-24-2013, 04:53 PM   #23
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Having marketable skills that can make someone money is what gets you a good job in america.

Too many people think a degree makes them entitled to six figures. I know people with college degrees and shitty jobs, and it's all because their degrees are worthless in terms of actual marketable skills. Instead they pick classes that make them feel smart (psychology is the #1 example of this) but provide limited opportunities in the private sector.
Double bingo.
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Old 03-24-2013, 04:59 PM   #24
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This is a complicated issue that I don't know exactly how I feel about it. Incentives given to companies to entice them to either start doing business in your state or to keep their existing business in the state is nothing new. There are some regulations in these incentives like the companies that qualify have to offer health care and the company has to pay a certain percentage of the premiums, but I'm still not sure if this is a good idea.

I don't know you or what you do for a living, but it seems to me that you are against anyone making a lot of money or corporations making profits.
Personally I'd just like to see small businesses not being crushed under taxation while larger corporations have numerous breaks.

To me taking from the poor and giving to the rich is also socialism.
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Old 03-24-2013, 05:08 PM   #25
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Personally I'd just like to see small businesses not being crushed under taxation while larger corporations have numerous breaks.

To me taking from the poor and giving to the rich is also socialism.
you just have to give reagan's trickle down plan time to work
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Old 03-24-2013, 05:40 PM   #26
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Originally Posted by WhiteWhale View Post
Having marketable skills that can make someone money is what gets you a good job in america.

Too many people think a degree makes them entitled to six figures. I know people with college degrees and shitty jobs, and it's all because their degrees are worthless in terms of actual marketable skills. Instead they pick classes that make them feel smart (psychology is the #1 example of this) but provide limited opportunities in the private sector.

College isn't a golden ticket.
Triple Bingo!
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Old 03-25-2013, 12:17 AM   #27
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We need a larger government to fix the problems caused by this large government.
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Old 03-25-2013, 11:49 AM   #28
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We need a larger government to fix the problems caused by this large government.
Yahtzee!
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Old 03-25-2013, 12:21 PM   #29
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We need a larger government to fix the problems caused by this large government.

You realize these are state governments giving these tax credits, right? Presumably to entice the employers to stay in their state rather than go to another state.
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Old 03-25-2013, 12:26 PM   #30
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