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- Dec 13, 2015
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The purpose of an economic system is not the myopic accumulation of capital per se. It is (or should be) the well-being of ALL the people within the nation who share the benefits of their hard-earned work. And it should be a national objective to assure - not equal shares of the abundance - but equitable shares. Which is what taxation was intended to do, but amply fails at doing presently.
And what Americans know (but fail to acknowledge) is that the primary purpose of taxation today is to assure that the accent is solely upon accumulation of Wealth (and Net Worth, which is Wealth minus Debt). Meaning, in a pie-chart rendition, this:
How did it all go so wrong, so wrong, so wrong?
We started to get taxation wrong with JFK who had his Dem-congress reduce taxation (it was LBJ who signed it into law). Reckless Ronnie finished the job. The history of upper-income taxation reduction from above 90% to around 30% is plain enough for anybody to see - Here. Which substantiates the two general movements downward in upper-income taxation since the 1960s.
Note in the above infographic that it was Reckless Ronnie who hacked upper-income taxation down to the ridiculous level at which it finds itself today. That historical fact is evident in the infographic linked above. (When a Milt Romney can pay 14% on income of $13.6M and brag about it, one knows that something is very, very wrong. See here.)
What do both of those degradations in upper-income taxation mean to us as a nation today? That a very small class of plutocrats are very privileged in their taxation and spend-like-crazy to assure that Congress does not change the situation!
Zucman and Saez (UCal, Economics) show well enough the awful consequences of unfair taxation here:
This above characterizes the world we live in today. Notably, the top 0.1% of the population obtain the same amount of Wealth generated by the other 90% of us.
And people may think that is fair and honest? When its an income-taxation rip-off that was planned and executed by the Replicants. You THINK you are fooling somebody?
Not anybody with the factual evidence, they're not foole for even one nanosecond ...
NB: There is a reason why 14% of the American population are incarcerated below the Poverty Threshold (of $23K income per family). It is because not enough is being done to prevent them from "falling through the cracks". Meaning having the educational perquisites that would permit them a better job. Which Bernie had suggested and Hillary offered were she elected PotUS. But, no, the election was manipulated to make Donald Dork the winner!
And what Americans know (but fail to acknowledge) is that the primary purpose of taxation today is to assure that the accent is solely upon accumulation of Wealth (and Net Worth, which is Wealth minus Debt). Meaning, in a pie-chart rendition, this:
How did it all go so wrong, so wrong, so wrong?
We started to get taxation wrong with JFK who had his Dem-congress reduce taxation (it was LBJ who signed it into law). Reckless Ronnie finished the job. The history of upper-income taxation reduction from above 90% to around 30% is plain enough for anybody to see - Here. Which substantiates the two general movements downward in upper-income taxation since the 1960s.
Note in the above infographic that it was Reckless Ronnie who hacked upper-income taxation down to the ridiculous level at which it finds itself today. That historical fact is evident in the infographic linked above. (When a Milt Romney can pay 14% on income of $13.6M and brag about it, one knows that something is very, very wrong. See here.)
What do both of those degradations in upper-income taxation mean to us as a nation today? That a very small class of plutocrats are very privileged in their taxation and spend-like-crazy to assure that Congress does not change the situation!
Zucman and Saez (UCal, Economics) show well enough the awful consequences of unfair taxation here:
This above characterizes the world we live in today. Notably, the top 0.1% of the population obtain the same amount of Wealth generated by the other 90% of us.
And people may think that is fair and honest? When its an income-taxation rip-off that was planned and executed by the Replicants. You THINK you are fooling somebody?
Not anybody with the factual evidence, they're not foole for even one nanosecond ...
NB: There is a reason why 14% of the American population are incarcerated below the Poverty Threshold (of $23K income per family). It is because not enough is being done to prevent them from "falling through the cracks". Meaning having the educational perquisites that would permit them a better job. Which Bernie had suggested and Hillary offered were she elected PotUS. But, no, the election was manipulated to make Donald Dork the winner!
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