Category Archives: The Corporation

Where Did the Fed Get $7.7 Trillion?

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The Federal Reserve – a privately owned lender to the Federal Government in the US – printed $7.7 trillion during the 2008 financial crisis.

They gave it to banks in 2008 while the rest of America started to fall apart.

Dennis Kucinich explains:

If you don’t believe what he’s saying, know this:  nearly HALF of all capital gains in the US went to just 0.1% of the US population.  Continued efforts to reduce the tax on capital gains will only exaggerate the inequality in the US and elsewhere, including Canada.

Here’s the translation:  socialism for the top crust, capitalism for the rest of you.

You Can’t Nationalize Carbon Costs

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Whether you’re in the carbon credit market or the car or you’re simply looking for ways to generate revenue, it’s not a good idea to think of a carbon tax as a solution, even though some Canadians think it might be the only way to go.

Why?

It’s morally absurd to nationalize (or localize) carbon costs when the local government might be hosting the producers of carbon, but they’re not reaping all of the benefits.

Allow me to explain …

Say you’re a big country with a whole pile of natural resources.  Let’s remind everyone that very few of these natural resources are actually currently owned by the people of that country.

And let’s say that in order to produce, export and consume those products, people already pay an excise tax that is designed to simply extract cash from the pockets of those people to pay for things that they may or may not want, like crappy jets and useless prisons.

And let’s finally agree that the corporations that extract these resources are already getting a free ride because they pay a minimal amount of royalties, all of which are deductible against absurdly low corporate income taxes, most of which are negative because of the vast array of ridiculous writeoffs that we create for these welfare slobs.

And now … we introduce a carbon tax on the people that might use the carbon-based products that non-Canadian companies overcharge us for.

What an insult.

It’s time we got the formula straight.

I will pay carbon taxes when I know that the companies like Shell, BP and Exxon pay a flat tax to the people of Canada for the privilege of extracting our resources.

Until then, adding another tax to Canadian citizens is just another insult to our pocket books and will do nothing – I repeat nothing – to solve the environmental tragedy known as the Tar Sands.

Economics, Media and Mass Manipulation

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I don’t recall where I got the link for this site, but the context of this article on Economics, Media and Mass Manipulation is riveting, despite the length.  It’s well worth the read, packed with data and the author accomplishes what they set out to do:  prove that change is coming, whether we like it or not.

The three pillars sustaining the American empire edifice of never ending war, ever accumulating debt and excessive consumerism are crumbling. The growing corruption and weight of un-payable debt have weakened the very foundation of our grand experiment. The existing structure will surely collapse. My entire adult life has tracked the decline of the American empire. I had become comfortably numb. I came to my senses and began to question all the Federal government/Wall Street/Corporate Media sponsored truths about eight years ago. Many others have also awoken and begun to challenge the false storylines dictated by those in power.

Yeah, right.  I can hear you now:  whispering about the pot-induced lyrics of Pink Floyd in context of ‘Comfortably Numb’, the chosen title of this piece, but it was this chart the reminded me that income opportunities, taxation and share of income is definitely not skewed in our favour:

superrich-graphs-motherjones

Every day we work, we lose money to inflation and taxation.  The cards are clearly stacked against us, but apparently things will be OK so long as we continue to inflate our debt, swap real assets for credit assets and keep track of what’s happening with ‘Dance with the Stars’.

What can I say?  Things are going to change.  If they don’t, things are going to change.

Occupy Santa Claus?

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While there is an occupyxmas concept already put out there, will someone act on the idea of occupying Santa Claus parades?

It makes sense:

If done right, this visibility could be translated into very positive messages related to the occupy movement.  Those mainstream media types that typically slander and ‘poo poo’ those with a positive message about what occupy is all about may be forced to confront those positive messages as occupiers are broadcast to middle America.

Maybe have messages like ‘Make Gifts, Not War’, ‘Buy Local, Not From The North Pole’, and ‘Stop Shopping, Start Caroling’ to remind people that the ‘season’ is all about, peace, love and understanding and not about emptying your wallets for Wal-Mart, ToysRUs and other international conglomerates.

If we’re lucky, that message will translate to the millions of viewers that are about to spend the next 4 or 5 Saturdays in busy malls and force them to reconsider what Christmas should be all about.

The down side?  Unfortunately, there’s a huge risk that occupiers (or police removing occupiers) might act in poor taste or make threats to parade members or property.  This would destroy any positive currency that occupiers may have earned by looking out for the average ‘99%er’ and will draw a LOT of criticism from people that can’t see past the commercialism of the annual events.

Make Them Pay

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Citizens for Tax Justice and the Institute on Taxation and Economic Policy in the US research shows that nearly a third of 280 corporations surveyed didn’t pay taxes or even got a tax break.

More shocking with this news is that the corporations that were part of the survey – a mere fraction of the corporations in the US and Canada – received more than $223 billion in subsidies from various levels of US government.

All of this is proof that high corporate taxes are not the problem.

The more I read stuff like this, the more I want a simple tax system where there are NO deductions from income and a very reasonable and lower flat tax of, say, 10% on all activity.  This would solve a LOT of problems in most economies.

It would also put a lot of lawyers and lobbyists out on the street!