by Sandy » Mon Nov 28, 2011 7:43 pm
It is getting tougher and tougher to find media reports that are believable related to economics. So much of what gets put out is paid propaganda by those who are interested in keeping things the way they are. So much information is simply bought and paid for, and so many politicians are as well, especially Paul Ryan. Good grief, these corporate interests are buying political-style advertisements on television now, putting out false information and urging people to call their congressman, senator or even to "tell President Obama" something they want to push.
The corporate tax rate does not cover the costs generated by the operation of the major business interests in this country, including the diplomatic services required by international trade, protection provided by the military and police forces, maintenance of the court system, and a whole host of other costs incurred by government so that they can do business. This is absorbed by middle class taxpayers. The profits would be monstrous even if the tax rates were doubled, but they bought and paid for a President and a congress and they got the tax breaks they wanted.
Europeans have paid higher taxes that Americans have for generations, yet in most of Western Europe, there is less poverty and more prosperity than there is here. Taxes in Switzerland, for example, run to nearly half of personal income, but given all of the services that government provides, especially public transportation, higher education and health care, personal expenses are also reduced. The main problem that Europe is experiencing as an economic unit are related to the inequities experienced in the various countries involved in the union. Germany began to struggle when it assumed responsibility for the former East German state, and is still experiencing some of that drain in infrastructure and industrial development. Greece and Italy are less stable economies that require bucking up by the others.
It is interesting to me that the claim is made that those who have all these resources need to avoid taxes because they have the means to employ people and won't employ as many if they are taxed too much. That's garbage. They aren't employing anyone here, but they are generating profits at a level never seen in business before, and employing people in India and Indonesia like they never have before. That's the problem, and it is something that government can fix. I'm glad to see that OWS represents a segment of society that recognizes this and sees through the propaganda.