The upper socio-economic class (the aristocracy) in America has a sense of entitlement.
They feel they have a natural and God-given right to enjoy material prosperity at the expense of the lower classes.
In a society that espouses the value of "equality" ,it seems that some are more equal and more deserving than others. (see,"the preservation of privilege" and "economic inequality"),
In the meantime,the working class faces the harsh realities of unemployment, poverty, foreclosure,and destitution.
Without work they have no opportunity and no hope of bettering their condition.
For them the American Dream is a mirage --something beyond reach.
They must live the American Reality!
see "Living the Dream"
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see "Taming Predatory Capitalism"
by JAMES K. GALBRAITH
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It's called "paying back"!!
Republicans--aren't these the guys who willingly send their children to war to defend and advance the interests of their country?
Why then would they begrudge a measly 5% increase in their taxes if doing so would save their country,(and save their children from inheriting and having to pay off their debt)?
Are they sincere patriots or hypocrites?
If they sincerely wanted to perform a valuable service to their country , they would step up voluntarily and joyfully hand over an additional 5% tax...and not think it a burden to be fought against with tooth and claw.
Why don't they put their money where their mouth is!
"From those to whom much is given, much is expected"
--Luke 12:48
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Stop coddling the super-rich: Buffett
On Monday August 15, 2011, 9:05 am EDT
BANGALORE (Reuters) -
Billionaire Warren Buffett urged U.S. lawmakers to raise taxes on the country's super-rich to help cut the budget deficit, saying such a move will not hurt investments.
"My friends and I have been coddled long enough by a billionaire-friendly Congress. It's time for our government to get serious about shared sacrifice," The 80-year-old "Oracle of Omaha" wrote in an opinion article in The New York Times.Buffett, one of the world's richest men and chairman of conglomerate Berkshire Hathaway Inc , said his federal tax bill last year was $6,938,744.
"That sounds like a lot of money. But what I paid was only 17.4 percent of my taxable income - and that's actually a lower percentage than was paid by any of the other 20 people in our office. Their tax burdens ranged from 33 percent to 41 percent and averaged 36 percent," he said.
Lawmakers engaged in a partisan battle over spending and taxes for more than three months before agreeing on August 2 to raise the $14.3 trillion U.S. debt ceiling, avoiding a U.S. default.
"Americans are rapidly losing faith in the ability of Congress to deal with our country's fiscal problems. Only action that is immediate, real and very substantial will prevent that doubt from morphing into hopelessness," Buffett said.
Buffett said higher taxes for the rich will not discourage investment.
"I have worked with investors for 60 years and I have yet to see anyone - not even when capital gains rates were 39.9 percent in 1976-77 - shy away from a sensible investment because of the tax rate on the potential gain," he said
"People invest to make money, and potential taxes have never scared them off."
(Reporting by Santosh Nadgir; Editing by David Holmes)
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Right wing politicians call Social Security and Medicare "entitlements," as if those lazy old people are just asking for handout. But in reality, they've been paying into the Social Security system for their entire working lives. And actually, middle and lower class people have been paying a higher percentage of their income than high-earners, since there's an income cap that lets wealthier people stop paying the tax that everyone else pays throughout the year.
ReplyDeleteAnd now, after they've payed into these programs for 50 years or so, we want to sneer and call these programs "entitlements," as if they're just a giveaway to lazy people?
WCG
This comment has been removed by a blog administrator.
ReplyDeleteThe whole country exudes an attitude of arrogance and entitlement!
ReplyDeleteThe United States consumes more energy and more of the planet's resources than any other country.
In so doing ,it produces more waste and pollution than any other country.
Yet it refuses to take a leadership role in cleaning up the global environment.
How much of the planet's resources is America
Deleteentitled to?
40 billionaires pledge to donate half their wealth:
ReplyDeletehttp://givingpledge.org/#enter
http://www.msnbc.msn.com/id/38556042/ns/us_news-giving/?om_rid=DRR4LI&om_mid=_BMWcNXB8RQ-jj4&
Taxing the super rich:
ReplyDeleteUN calls for 'billionaires tax' to help world's poor
The United Nations on Thursday called for a tax on billionaires to help raise more than $400 billion a year for poor countries.An annual lump sum payment by the super-rich is one of a host of measures including a tax on carbon dioxide emissions, currency exchanges or financial transactions proposed in a UN report that accuses wealthy nations of breaking promises to step up aid for the less fortunate.The annual World Economic and Social Survey says it is critical to find new ways to help the world's poor as pledged cash fails to flow.The report estimates that the number of people around the globe worth at least $1 billion rose to 1,226 in 2012.There are an estimated 425 billionaires in the United States, 315 in the Asia-Pacific region, 310 in Europe, 90 in other North and South American countries and 86 in Africa and the Middle East.Together they own an estimated $4.6 trillion so a one percent tax on
their wealth would raise more than $46 billion, according to the report."Would this hurt them?" it questioned."The 'average' billionaire would own $3.7 billion after paying the tax. If that billionaire spent $1,000 per day, it would take him or her over 10,000 years to spend all his or her wealth," the report says.It says that the wealth of billionaires grew at an average rate of four percent a year in the two decades before the 2008-2009 financial crisis."If that rate of growth returned with no wealth tax, the average billionaire's wealth would double in less than 18 years."The idea could appeal to the likes of Warren Buffett, the US tycoon who has complained that he pays a lower tax rate than his secretary. France's new Socialist government has caused consternation by vowing a 75 percent tax on salaries above one million euros ($1.24 million).But the UN acknowledged that the idea is unlikely to get widespread support from the target group, saying that
for now its tax on the unimaginably wealthy remains "an intriguing possibility."It has not been regarded as a means of raising revenues for international cooperation," the report says.The document gives other ideas for international taxes, including:-- a tax of $25 per tonne on carbon dioxide emissions would raise about $250 billion. It could be collected by national governments, but allocated to international cooperation.-- a tax of 0.005 percent on all currency transactions in the dollar, yen, euro and pound sterling could raise $40 billion a year.-- taking a portion of a proposed European Union tax on financial transactions for international cooperation. The tax is expected to raise more than $70 billion a year.It also suggests expanding a levy on air tickets that a number of nations already impose to raise money for drugs for poor states through UNITAID, a UN initiative.The report says more than $1 billion has been handed over to UNITAID since the
levy started in 2006.France has a one euro tax for a domestic flight in economy and six euros for international flights -- with 10 euros for business class on domestic flights and 40 euros on international tickets. The air industry fiercely opposes any extension of the tax, arguing that it already pays heavily in taxes and levies.However, because of budget cuts, aid and development assistance to poor countries fell $167 billion short of promised levels in 2011, according to Rob Vos, the report's lead author.The UN expert said the taxes make "economic sense" as they stimulate the green economy and "mitigate financial market instability."In short, such new financing mechanisms will help donor countries overcome their record of broken promises," he added.Without commenting on any of the individual taxes proposed, UN Secretary General Ban Ki-moon said that if the new "innovative financing" is to become viable, "strong international agreement is needed."
"To give is the duty of the rich" !
Delete
DeleteBY RYAN FURHMANN Updated May 2, 2012
The corporate tax rate in the United States peaks out at 35%. Taking this rate at its face value, the rate is among the highest in the world. According to a study put out by the Organization for Economic Cooperation and Development (OECD), only France comes close at 34.4% and Belgium at right around 34%.
SEE: The Most Controversial Tax Deductions
Dig a little deeper though, and many U.S. corporations pay far less than this stated rate. A study released last November detailed that the average corporate tax rate for Fortune 500 companies (the largest in the country) was only around 18.5% between 2008 and 2010. On this list, the study found that only 71 companies paid a rate above 30%, and 30 actually paid negative taxes, meaning they actually received tax refunds. Astoundingly, one company managed a negative tax rate of close to 58%.
SEE: Highest Corporate Taxes by Sector
Loopholes
Clearly, corporations have become extremely savvy at finding ways to pay less in taxes. The study mentioned above found that corporation found ways to accelerate depreciation of equipment, which boosts costs to lower taxes paid. Tax deductions are also key and stem from options to overseas operations. Of course, many have found ways to officially incorporate outside of the U.S. and pay lower corporate tax rates in their new home countries, even though a significant portion of their operations may still reside inside the U.S.
DeleteThese Billionaires Want The Ultra-Wealthy To Pay More
https://www.forbes.com/.../billionaires-more-taxes-gates-buffet…
2019-10-15 · At least a dozen billionaires have made public statements that call for the super-rich to pay more in taxes.
Jeff Bezos says Amazon supports corporate tax rate hike
https://news.yahoo.com/jeff-bezos-says-amazon-supports-2122…
2021-04-07 · Just last week, President Biden called out Amazon for using loopholes to avoid paying federal income taxes as he explained his goal of raising the corporate tax rate to 28 percent. As it turns out, Amazon CEO Jeff Bezos is on board with the hike, which the White House says would help pay for Biden's massive new infrastructure proposal.
the sense of entitlement has brought our nation to ruin.
ReplyDeleteThe trouble with extravagance is we cant afford it!
We need to earn our way in the world... by calling ourselves to a higher level of character,morality and excellence.
Wasteful America:
Deletehttp://m.yahoo.com/w/ygo-frontpage/lp/story/us/2680088/coke.bp%3B_ylt=A0KjqXr_RmtQm1cA_QMp89w4%3B_ylu=X3oDMTI2aXJyanJkBGNjb2RlA3lyZARjcG9zAzYEY3NlYwNtb2JpbGUtdGQEaW50bAN1cwRwa2cDaWQtMjY4MDA4OARwb3MDMQRzbGsDdGh1bWI-?ref_w=frontdoors&view=today&.intl=US&.lang=en
Americans are the most wasteful people on the planet. We use more than any other people on the planet.
Delete
DeleteAmericans are the most wasteful people on the planet. We use more than any other people on the planet.
Americans are the most wasteful people on the planet. We use more than any other people on the planet.
America is one of the most wasteful countries in the world, and we ignorantly do not care. As a people, we promote the use of our resources in a manner that places style in front of efficiency. Marketing and advertisements play a huge part in shaping what Americans deem efficient. Even though we are given the information to make the educated choice when it comes to efficiency, we always opt for convenience. I too am just as guilty of being a wasteful American. I have allowed food to sit in the refrigerator until it was no longer edible, all because it no longer suited my appetite. I have also let the water run in the sink while doing the dishes. I have thrown out marketing material before even reading it. Leaving the lights on in a room that is not being occupied and leaving the television on while sleeping has all become second nature to an inefficient America.
There was a time when you bought something, and when it broke, you get it fixed. Nowadays that is no longer the case when things break people throw it away and get a new one. One example is today, digital devices such as cameras and cell phones have added to a wasteful society. As electronics become cheaper and better, Americans feel the need to dispose of the old and purchase the new, adding to the unnecessary waste. In my opinion, Americans are the worst offenders when it comes to wasting food. Many do not want to fix meals. With super sized meals and excessive portions of food, waste in America is horrendous. On average, Americans waste 14% of the food they buy, including products still within their expiration date but never opened. As lifestyles become more hectic, convenience takes over efficiency.In conclusion, Americans are unlikely to give up the comfort and convenience of disposables. More waste is the price Americans will pay for products that are time consuming, convenient and disposable. Unless we are prepared to stop being so frugal and make significant changes in our life...
How much of the planet's resources is America entitled to?
DeleteI've never understood why investing in America isn't a conservative position. Republicans supposedly admire businessmen. So why not invest in our nation? Why not invest in education? Why not invest in our young people?But no, that's not being "conservative" these days, not in America. Not even conservation is "conservative" by the crazy standards of the right-wing.
ReplyDeletethe Giving Pledge
ReplyDeletehttp://givingpledge.org/
The Giving Pledge is a commitment by the world's wealthiest individuals and families to dedicate the majority of their wealth to philanthropy.
Wealthy societies are morally obligated to help those fleeing armed conflict and deep poverty. The wealthy perceive the flow of migrants as a security threat and a threat to their own lucrative lifestyles(eroding their "standard of living"). The "haves" are pulling up the drawbridges,reinforcing borders,building walls to stem the inundation of the "have nots".
ReplyDeleteWhen you live a life of privelege,
ReplyDeletethe idea of equality
can feel like oppressjon.
The ostentatious flaunting of wealth while others suffer from a lack of the simplest means of survival is immoral and obscene!
ReplyDelete
ReplyDeleteAre the obscenely rich beginning to feel twinges of guilt?
As It Happens with Carol Off, Chris Howden - Jan. 22, 2020:
Patriotic Millionaires urge the rich to pay 'higher and fairer taxes'
https://www.cbc.ca/listen/live-radio/1-2-as-it-happens/clip/15756905-patriotic-millionaires-urge-the-rich-to-pay-higher-and-fairer-taxes
Resource Movement - MakeWay
ReplyDeletehttps://makeway.org/project/resource-movement
Resource Movement brings together young people with wealth and class privilege to become leaders working towards the equitable distribution of wealth, land, and power. Our vision is a world where wealth and power are shared, and Indigenous land rights are respected.
NY Times exposes Trump's t ax avoidance
ReplyDeletehttps://www.usatoday.com/videos/news/politics/2020/09/28/new-york-times-reports-donald-trumps-tax-avoidance-financial-losses/3559192001/
Investigation shows years of tax avoidance by Donald Trump – The New York Times
POSTED BY VENTO ON 28TH SEPTEMBER 2020 IN INTERNATIONAL NEWS
Donald Trump paid just $750 (£590) in federal income taxes in 2016 – the year he was elected, according to The New York Times.
An investigation by the newspaper also claimed that he didn’t pay any income tax at all in 10 of the 15 years before he became president.
The claims come just weeks before a divisive election, with early voting already under way.
It is also claimed that his tax bill also came to just $750 in 2017 during his first year in office.
When asked about the report in his daily briefing, Mr Trump said: “It’s totally fake news, made up, fake. Actually I paid tax.”
Mr Trump insisted his tax details would be released when the Internal Revenue Service (IRS) finishes its audit.
“They’ve been under audit for some time,” Mr Trump added. “The IRS treat me very badly.”
A lawyer for the Trump Organisation told the newspaper that “most, if not all, of the facts appear to be inaccurate”.
In a statement, he said the president “has paid tens of millions of dollars in personal taxes to the federal government, including paying millions in personal taxes since announcing his candidacy in 2015”.
The NY Times report claims Mr Trump was able to minimise his tax bill by reporting heavy losses across his business empire.
It said he claimed $47.4m (£37.1m) in losses in 2018, despite saying he had income of at least $434.9m (£340.7m) in a financial disclosure that year.
The US president’s consistent refusal to release his taxes has been a departure from standard practice for presidential candidates.
He is currently in a legal battle with New York City prosecutors and congressional Democrats who are seeking to obtain his returns.
During a presidential debate against Hillary Clinton in 2016, Mrs Clinton said that perhaps Mr Trump was not releasing his tax returns because he had paid nothing in federal taxes.
Mr Trump interrupted her to say: “That makes me smart.”
POSTED IN INTERNATIONAL NEWS | TAGGED DONALD TRUMP, INVESTIGATION,