What Should We Tax?

By Herman Daly
Daly News

For some time a small group of ecological economists has been suggesting that we switch the tax base from income (value added to natural resources by labor and capital), and on to natural resources themselves. Value added to resources is something we want more of, so don’t tax it (either at each stage of production as in Europe, or at the final stage as income as in the U.S.).  The resource throughput, beginning with depletion and ending with pollution (both real costs), is something we want less of in a full world economy, so let’s tax it.

This Is What Resistance Looks Like

By Chris Hedges
TruthDig

The phrase consent of the governed has been turned into a cruel joke. There is no way to vote against the interests of Goldman Sachs. Civil disobedience is the only tool we have left.

We will not halt the laying off of teachers and other public employees, the slashing of unemployment benefits, the closing of public libraries, the reduction of student loans, the foreclosures, the gutting of public education and early childhood programs or the dismantling of basic social services such as heating assistance for the elderly until we start to carry out sustained acts of civil disobedience against the financial institutions responsible for our debacle. The banks and Wall Street, which have erected the corporate state to serve their interests at our expense, caused the financial crisis. The bankers and their lobbyists crafted tax havens that account for up to $1 trillion in tax revenue lost every decade. They rewrote tax laws so the nation’s most profitable corporations, including Bank of America, could avoid paying any federal taxes. They engaged in massive fraud and deception that wiped out an estimated $40 trillion in global wealth.

The banks are the ones that should be made to pay for the financial collapse. Not us. And for this reason at 11 a.m. April 15 I will join protesters in Union Square in New York City in front of the Bank of America.

Full Spectrum Dominance: 8 Examples of How the Government Is Taking Total Control of Our Food, Our Health, Our Money and Even Our Dignity

By Michael Snyder
Blacklisted News

Over the past several decades, no matter which political party has been in power the government has continued to become a larger part of our lives. These days many people are speaking of the “nanny state” that we have created, but the reality is far worse than that. The truth is that the government has become a gluttonous, out of control behemoth that is gobbling up everything in sight and that is attempting to exert full spectrum dominance over our lives. Today, the government seems to have an insatiable hunger to watch us, track us and control us. Now they even want to feel our private parts before we get on an airplane. No matter what politicians we send to Washington D.C., it just seems to get worse and worse. Anyone who still believes that we live in “the land of the free” is completely and totally delusional.

Google’s “Double Irish” and the “Dutch Sandwich” to Avoid US Taxes

By Numerian

Google, which encourages employees to “Do No Evil”, managed this past quarter to reduce its international tax rate to 2.4% of net income, despite earning most of its revenue in countries like the US, the UK, Germany, and Japan that have corporate tax rates of at least 25%. In comparison, the average recent effective US tax rate for 2,000 companies was 28.3%.

In a report published today in Bloomberg, Google was described as using tax techniques known as the “Double Irish” and the “Dutch Sandwich” to avoid paying taxes in the countries in which it earns most of its revenue. Google uses a Dublin subsidiary and declares that 88% of its overseas sales are generated by this office which employs 2,000 people. Ireland maintains a very low tax rate to encourage foreign investment, but it then adds an important benefit: it allows companies to shift revenues to low-tax countries using transfer pricing. Google shifts its Ireland revenues to The Netherlands (Irish law requires using an EU country for the first leg of this shift). The revenue is then transferred to Bermuda, which has a minimal tax rate. In the meantime, Google uses transfer pricing to shift its expenses to high-tax countries in order to declare tax write-offs.

Understanding Supply Side Capitalism

Part #2 of Understanding Capitalism and Socialism
by Joaquin

Now that Republicans are starting to talk about restoring Reaganomics, it is a good time to review Reaganomics; i.e., Supply Side Capitalism. This is number two of my technical essays about how the world works. Today we will explore how supply side economics will save the world. So let’s get to it.

Supply side economics became so powerful that it was renamed Reaganomics in honor of the president and WW II movie hero. Reaganomics helped poor Americans understand what rich people have been telling us since the Middle Ages i.e., Robin Hood was doing it wrong.

Some people call Reaganomics “Trickle Down theory”. Its kind of like when I went to college; most of the students studied hard to get in to our college and were from middle class families like me, but this one guy got in because his parents bought a new building for the school.

Top 1%: Lower Tax Rate Than Their Secretaries

February 18, 2010   our future.org By Robert Borosage

Yes, there is a class war, Warren Buffett once said, and my class is winning. The IRS study of taxes paid in 2007 makes his point. The top 1% of taxpayers averaged about $138 million in income, and paid taxes at a rate of 16.6%.