Need a stark breakdown of just why it is that attacks on public employees in Wisconsin and beyond are striking such a nerve? Take a look at this chart from the Center for American Progress comparing tax breaks for corporations and the wealthy to budget cuts to 10 social safety net programs.
Combine this visual depiction of our supposed "shared sacrifices" and "painful cuts" with the extremes of wealth and poverty our culture editor, Cord, shared yesterday—how the 400 wealthiest Americans are now richer than the bottom 50 percent of citizens—and it's not hard to understand why people are protesting.
Link to original post: http://www.good.is/post/must-see-chart-tax-breaks-for-the-rich-versus-budget-cuts/
Posts
2 comments:
Early childhood development programs--are they even effective long term? From the data I've seen on Head Start, either no, or not very. The goals are good but I'm not convinced that the current system is worth what's been spent or something the fed should be involved in.
Low Income Housing--A good bit of this is subsidies for deadbeats who know how to work the system. I know a couple of people who were landlords for Metropolitan housing--they get abused by tenants who trash the property, called slumlords-but they get paid.
WIC--Not horrible. I wouldn't keep it, but it would be one of the last types of welfare I'd cut.
Job Training--At least some of this goes to major corporations for nearly useless stuff. EDS (Ross Perot's former company) at the time a major corporation sent me to Detroit several times for Cisco-specific training that was mostly paid for by a federal grant--all EDS paid for was my mileage and meals. The class was entirely EDS employees. Similar training was available locally, but not subsidized, so I made 5 or 6 400+ mile round trips. EDS benefited a bit, the training center probably would not have existed without grants, and Cisco benefits--at least one of the classes was little more than an ad for Cisco.
Estate taxes--Taxed when its earned, taxed again when it is inherited, taxed again when it is spent.
Mortgage Deductions in general should be phased out-Distorts the market, ties people to their homes. Instead, lower taxes for everyone, instead of just those of us who can afford to buy our own homes. (I own mine, still think deductions are a bad idea)
Estate Planning--Rich people able to afford hiring someone to manage complexity. Simplify.
Itemized Deductions--Rich people able to afford hiring someone to manage complexity. Lower taxes for everyone instead.
Offshore operation tax breaks--And onshore operation tax breaks for favored industries. Rich people able to afford hiring someone to manage complexity.
oil company write-offs
alcohol fuel tax breaks
(wind power tax breaks)
(solar power tax breaks)
(golf cart/electric car tax breaks)
(renewable energy tax breaks)
Timber industry tax breaks
(farm subsidies)
OK, get rid of all of these, except those that are basic business expenses similar to other businesses.
On this we more closely agree.
First, institute true, stringent, tough, accountable campaign finance reform and make it so candidates need--or can receive--campaign contributions (read: bribes) from corporations, lobbyists of any kind and the wealthy.
Second, make the campaign season last no longer than say, 3 months, period.
Then, truly simplify the tax code, along these lines. Make 3 or four tax brackets, tops and phase in a new system that eventually does away with too many of these tax breaks with the goal of there being as few as possible.
Then make it that somehow our Congress doesn't start and keep tweaking it with a tax break here and a tax break there.
Hey, I can dream, can't I?
Post a Comment