Welcome to the beginning of American hyperinflation boys and girls. You know what hyperinflation is don't you? According to Wikipedia "...hyperinflation is inflation that is 'out of control,' a condition in which prices increase rapidly as a currency loses its value." Or to put it another way, prices of every day goods rise rapidly, sometimes as much as 1000% in one day, while your paycheck or salary stays the same or even shrinks.
And what causes this phenomena? Well, economists, yes, the same people who Bush, Bush McCain, and Hillary Clinton all say they ignore, will tell you the causes vary from country to country but usually one or two things trigger hyperinflation, a war and an economic downturn, or depression.
And guess which two things our current President brought us? You guessed it, a never ending expensive as hell war and an economic downturn, which could turn into a depression at any time now.
Bush led us into this economic mess by his neglect of the working and middle classes. Historically when only the people at the top of the economic food chain benefit from government largess, corporate welfare and tax cuts for the wealthy, then the rest of the country suffers and the national economy does about as well as a fat kid at a track meet. Look back at the depressions and economic downturns of the late 1800's and at the time just before the 1929 stock market crash. When we deregulate business and allow it to run free then the biggest majority of us get screwed and the only people making money and living well are the owners of the businesses that are deregulated.
And the two organizations who should be speaking out against the screwing big business is putting to us, the media and the church, are mostly silent. Most of the media stays silent because they are owned by big business. Most all TV, movies, and book and magazine publishing in this country is owned by just a few mega corporations and they do their damnedest to squelch dissent and to ridicule and marginalize anyone who disagrees with their points of view. The mainstream churches in the USA are guilty of collusion with the corporate America as well because they preach that we should be good little drones and go to work so that we can give the church ten percent or more of our wages and after a life time of hard work we can expect our reward in heaven. So now we're caught in a vice. We're being squeezed by oil and gas companies and their endless thirst for profits. They use any trumped up excuse to raise prices higher and higher because we are totally dependant on our cars, trucks, and airplanes. We've given up, for the most part, producing things locally, things such as foods and other everyday items, because it was easier to let big business do what the hell it wanted in order to make more and more profit. Never mind that none of what big business wants is ecologically, or economically, or morally sustainable. Gas prices rise and then in turn other prices rise so that profit margins will be maintained. Then gas prices rise again because the gas companies are paying higher prices for everything and then other companies raise their prices to offset the price increase of gas, and so on and so on and so on.Add to that the rising cost of food. Part of which is due to the steep hike in fuel prices and part of which is due to the fact that the world is beginning to eat like Americans do, which is to say eat way the hell more than they should, especially processed foods and meat, and part of which is due to our growing of corn to burn in our gas tanks.
We've got to have fuel for our cars, trucks, boats, and airplanes and we've got to have fuel for our bodies so we'll pay anything for it and corporate America knows it. Our government under Bush and his henchman have cut taxes on businesses and on the wealthy so that now they bear a tiny share of the tax burden. Meanwhile middle and working class people are being forced to pick up the slack and pay higher and higher prices for food and gas in addition to having to pay a bigger percentage of their incomes in taxes.
Wealthy Republicans and the people who own and run corporate America are doing fine in their cloistered gated communities and penthouses, meanwhile the rest of us have been caught out at sea during a perfect shit storm and our boat is about to capsize unless we vote out the men and women who sold us out to the multi national corporations and who voted to deregulate big business. The solution to our country's economic problems is pretty simple, we need to tax the rich and tax corporate profits more. If Exxonmobil, Chevron, Microsoft, Coca Cola, General Motors, Toyota, Wal Mart, Halliburton, and the like want to do business here in the USA then they should pony up and pay their fair share of the up keep of this country.
It's simple, if you benefit from government services, and we all do in one way or another be you a citizen or a corporation doing business in this country, then you should have to pay your fair share of taxes. If you make lots of money then you should have to pay more in taxes than someone who makes little money, if you make lots of profit then you should pay lots of taxes on that profit. It's what they do in Germany, France, Sweden, Spain, the UK, Norway and others and there is no reason we should not be doing it here as well, after all you don't see those countries I just mentioned going through the shit storm we're going through do you? I rest my case.
UPDATE: Check out the second and third items on this post from today from Think Progress, both bolster my points in this post.
13 comments:
I'm with you Monkey! I'm with you!!!
I want my Mommy- but she is busy working 2 jobs so that she might retire someday(seriously) and I am working 2 jobs too....
Thanks GW!
I'm sorry, I can't stop laughing at the above comment.
"large amounts of tax payments..." ooh, my sides...
see, you can't focus on "taxes paid" without looking at "tax breaks."
"However, Exxon's critics point out that its stated tax rate doesn't reflect a number of deductions and tax breaks that are afforded the oil and gas industry in the U.S. Erich Pica, a spokesman for the environmental group Friends of the Earth, says the U.S. federal tax code contains more than $17 billion in breaks to benefit the oil and gas industry for fiscal years 2007-11."
Source: Business Week
We only pay lip service to the concept of a progressive tax. With all of the tax loopholes, this country uses a flat tax, at best.
no_slappz
It appears your numbers are off. If you check Exxon's Income Statement
Exxon did indeed pay roughly $30 billion in taxes but those are U.S. and foreign taxes combined. I'm not sure where you got the $106 billion unless you're including FICA and other payroll taxes which are not actually taxes on the corporation but the employee. I'm sure that's not what you're doing since such a formulation would be intellectually dishonest I assume you just made a small mistake.
Somebody please check my math here but as I figure it $30 billion in taxes on $400 billion in revenue comes out to a little over a 13% tax rate.
Marginally less than anybody posting here pays on their own income.
In conclusion: soak the fuckers.
Or fuck the soakers, Dean.
Monkey/Love 2008 -- it's the only way out of this shitstorm!
I can't recall if I've already recommended The Long Emergency by James Knustler. He takes this theme on a very long walk, explaining the situation of post-cheap oil America.
His blog is called
clusterfucknation.typepad.com
Everyone-Please do not respond to comments left by the person who's comments I deleted. He lost his comment privileges on my blog many months ago when he was insulting to me and to my commenters. He seems to think that my blog is a place where he can leave his twisted hard right pro corporate views, but it in reality it is not. His views are espoused all day and all night in the corporate media, this blog is a forum for my opinions and viewpoints. He has his own blog on which he can write what ever sad little pro big business/radical right wing tripe he wants. He's not allowed to leave his shit on my blog. Please do not waste your time by replying to him. I learned many years ago to ignore bullies like him and if you do then they slink off back under their rocks and leave decent people alone. Thanks not responding to him any more on my blog.
But if we tag Exxon it's president will have to cut down to only 2 or 3 chins (seriously have you seen him.)
Restoring the corporate and high income tax rates we used have in the 1950s would do wonders for the economy and the country.
I'm with you, dr. MVM.
Vote your conscience.
Why, Dr. Monkey, be careful or people might get the impression that you're a *GASP* socialist! The fact of the matter is, capitalism serves the interests of money - it always has and it always will. Money and people frequently do not share the same interests. Further, the end result of capitalism is always a small group with extreme wealth and power exploiting a large group that does all the work, but shares none of the wealth, none of the power and reaps none of the benefits. Even Warren Buffett believes in the redistribution of wealth through heavy taxation of the wealthy. Keep up the good work, komrade!
$3.49 for unleaded? The cheap places in my neck of the woods are 40 cents higher than that, and still going up!
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