Michael Bloomberg has announced he will not run for president. He noted that we cannot afford to give Trump or Cruz a better chance to win. The Washington Post has published 16 negative articles on Bernie Sanders.. A Tax Forgiveness policy is being considered by legislators. The forgiveness would be yet another tax haven/loophole provided to huge corporations.
Cenk reads excerpts from the Washington Post response to criticism about their negative articles. Just before the Sunday townhall, Hillary Clinton’s campaign Spox told reporters that unlike Bernie Sanders, Clinton doesn’t think the governor of Michigan should resign. But during the debate, she called for his resignation, in agreement with Sanders. A private meeting put together by the American Enterprise Institute was just conducted a few days ago on a private island. Some of the political players this year that were planning how to control the world were McConnell, Rove, Sasse, Tim Scott. They met with the publisher of the NYT, and owners of some large corporations.
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Notes about corporations and taxation
First with regards to taxation, the US has international double taxation treaties by which American citizens living in dozens of countries pay only social security tax but not taxation on income. Same thing applies to corporations, none of the European corporations pay taxes on their American Operations to their governments back home, they are kept on separate books when taxes are calculated. The current fiasco of Google and Facebook in the UK is but a proof on how limited the amount of taxation a government can force a corporation to pay.
Second, with regards to the share of corporate taxation to the general revenue, look at the Social security and Medicare/Medicaid tax, there is a reason why it increased from 9% to 33% and that is because corporations started to foot part of those taxes and in this was deductible from overall corporate revenue. Plus states started taxing corporations, there was a gigantic shift in corporate structure towards small and medium sized corporations which barely make a profit and of course there were the tax cuts and international treaties that banned double taxation.
Third point, the tax rate is too high, based on which state it operates in Wall Mart, which pays 37% in taxes, can pay as high as 45% because local taxation, this leads to less salaries for employees and more cost handed down to the consumer, on the other hand GE gets a rebate so go figure.
Finally, banning companies that park their money outside the US from contracts, in addition to the fact that it is unconstitutional it is stupid since you need those companies they do not need you because for the past 50 years they were given access and preferential treatment and when they became independent of the US government you have no hold on them.
A better strategy is to break them since virtually all of these are monopolies of one form or another, but that is a different story. Breaking a corporation is extremely expensive and does not write off liabilities towards the government, indeed it might force them to bring the money back first before they can be broken.
Yet somehow these corporations are making record profits ceo pay has increased 2000 fold, and wages have……declined?
http://www.americansfortaxfairness.org/tax-fairness-briefing-booklet/fact-sheet-corporate-tax-rates/
By using the Tax Forgiveness to bring in corporate money from overseas – THE ESTABLISHMENT on both sides are effectively trying to destroy Bernie’s plans. If they get this through now, they can turn to Bernie and say “How are you going to pay for your plans now?” I assume the next target will be Speculation trading – but on their terms. —Julie Couch
Federal Reserve Bank is not owned by the US government. It is a private institution most likely owned by the too big to fails. Cenk you should know this.
Actually it’s independent. It’s really confusing but in short they can do what they want with out approval from the federal government. However there is oversight from the congress. So in reality no one owns it.
Facts about corporations on TYT! Surely you are dreaming.
As for oversight, congressional oversight is due to the fact that the Fed is technically a federally charted bank (all banks are charted by state) with a specific mandate and special powers. All this could have been solved if the US reverted to a traditional central bank model which is harder than a camel passing through an eye of a needle.
The graph on the decline of corporate taxes should be put up at every Bernie Sanders rally and on every media outlet everyday until we get money out of politics. Hillary would never fight Money in politics ever or unfettered freed trade that’s why she will lose the election. Democrats won’t be motivated to get to the polls, and the whole nation will be in serious trouble. Very sad Americans are brain washed by our corporate media that make so much money from money in politics. This is so sad because the economic peril increases exponentially every year we let this massive income inequality continue.
Off current topic: How do I sign on to Amazon through TYT so that you get a percent? I spend a LOT on Amazon.
they have a link in the description of there youtube vids. book mark that link and click on it when u wanna shop!
there is also a link you can bookmark on the right hand side of the website. just below the links to the current postgame