The federal income tax is a bad joke and it needs to be abolished. All over the nation, hard working American families are being absolutely crushed by oppressive levels of taxation, and our politicians are constantly coming up with new ways to extract money from all of us every single year. Meanwhile, many ultra-wealthy Americans and many of the most profitable corporations in the country pay little to nothing in taxes. In fact, as you will see below, there are dozens of very prominent corporations that make billions of dollars in profits and yet don’t pay a dime in taxes. Tax avoidance has become a multi-billion dollar industry in the United States. Those that have the resources to “play the game” use shell companies, offshore tax havens and the thousands of loopholes in our tax code to minimize their tax burdens as much as possible. Meanwhile, the rest of us get absolutely hammered. This is fundamentally unfair. The federal income tax system is irreversibly broken at this point, and it is time to abolish it. If you think that the federal income tax system can be “fixed”, then you probably have never studied it. Our tax code is nearly 4 million words long and it is absolutely riddled with thousands of loopholes that favor big corporations and the ultra-wealthy. We should come up with a better, fairer way to fund the government. The United States once prospered greatly without a federal income tax, and it could do so again.
Many people simply do not believe that it is possible for corporations inside the United States to make billions of dollars in profits each year and not pay a dime in income taxes.
Well, according to a report put out by Public Campaign, that is exactly what is happening. Posted below are numbers that come directly from their report. 30 large corporations are listed, and 29 of them had a tax burden for 2008 through 2010 that was less than zero even though they all made enormous profits. And all 30 of them spent more on lobbying than they did on taxes.
The numbers that you are about to see are for 2008, 2009 and 2010 combined. For “taxes paid”, please note that for 29 of the corporations a negative number is given. That means that the net tax liability for 2008 through 2010 was actually less than zero.
After seeing these numbers, is there anyone out there that is still willing to claim that our tax system is “fair”?…
Read More at theeconomiccollapseblog.com . By Michael.
Photo Credit: 401K 2012 (Creative Commons)
Get Informed! Read More About this topic::
- Abolish Corporate Income Tax! Sen. Carl Levin was aghast. Before his committee sat, unapologetic...
- Taxes, Charity Cost Romney 57.9 Percent Of Income With President Obama expected to use his second-chance debate this...
- A Century Of Income Taxation: Vastly More Revenue, Even Vaster Debt On February 3, 1913 — just a few days shy...
- Video: States Could Legally Fight The Income Tax Wild Bill explains here how the different states could fight...
- Video: Liberal: ‘Outlaw Billionaires; Cap Income At $300K’ Liberal Radio Talk Show Host Thom Hartmann wants to outlaw...
I have always thought a national sales tax would be better, then you could decide if you could affordit or not.
All taxes to support governmental costs should be collected at the cash register.
The Federal and State Governments should not have a direct relationship with any citizen concerning money. Nor should we have a Privately Owned Closed Corporation called the Federal Reserve System in charge of our money supply.
Think about this issue. We allowed the Federal Reserve System to begin and control our money supply and we allowed ourselves to be taxed by income at the very same time. Do you think that both of these things happened at the same time by accident? Who was the person who brought both things about?
Both of these institutions were brought to us by Senator Nelson Aldrich D, RI.
Just to put you on the right wavelength, Senator Nelson Aldrich was the Maternal Grandfather of Nelson Aldrich Rockefeller. Are you starting to see the picture. Senator Nelson Aldrich went to Europe for a year and studied monetary systems philosophy with the Rotheschilds just before he had this brainstorm that gave us the FED and INCOME TAXES.
Read history, it is very interesting to see how things happen, and why…… Check out the League of Nations, and see if you can follow the tracks to Hitler and the funding of WWII.
AMERICA:
WE MUST abolish the income tax. We must believe that what we earn form our jobs are ours. Iwe want to put aside a portion of our income, we should put them into our own account to us to grow them. Then we must buy our own health insurance on our choice, which we think affordable that fits our needs. Our money from social security, should NOT BE TAXED, because they are our own money from working for so many years. I believe the government employees, are the only ones who are required to file income tax for they get their money from the government. Government should tax businesses and entertainment companies. In order for the government to survive, they should abolish the welfare and some other freeloading programs. Now all the interest earned from their bank should not regarded as income, because they are the money they earned from working for so many years.