Two Huge Things the Nation Needs

Great news from--who else? Independent Vermont Senator Bernie Sanders:

Bernie Sanders Introduces Bill To End Offshore Tax Havens and Outsourcing of Jobs

Two things that should never have been put in the books anyway but they were because the wealthy and corporations can buy our legislators with "campaign contributions" and get the legislation they want, in spite of what's good for the nation.

Right now, America, we have laws on the books making it legal to take profits that were made here in the US, take them to the Cayman Islands and so, make them tax free.

That is textbook insanity. It's certainly fiscally irresponsible.

And the other thing that should no way have ever been made law was that companies would get tax credits, too, for offshoring manufacturing and so, manufacturing jobs.

More crazy.

We all know we want more jobs back here in our country, maybe especially manufacturing jobs. This is an excellent way to begin that process.

These two efforts, that is, bringing profits and jobs back "on shore", back to America, would go a long, long way toward fixing two major problems in this country. The first being tax revenue on profits made here in the country and the other of bringing jobs back.into the country.

There shouldn't be one government representative that is against either of these goals.

Sadly, however, because the corporations and wealthy virtually own the Republicans and the Republican Party, they won't be for it.

Something legal -- that shouldn't be

A study was just released proving still more that letting the wealthy and corporations offshore profits, first, shouldn't even ever been made legal and that it should, now, be reversed and made against our tax laws:

Exhaustive Study Finds Global Elite Hiding Up to $32 Trillion

A new report reveals how wealthy individuals and their families have between $21 and $32 trillion of hidden financial assets around the world in what are known as offshore accounts or tax havens. The actual sums could be higher because the study only deals with financial wealth deposited in bank and investment accounts, and not other assets such as property and yachts. The inquiry was commissioned by the Tax Justice Network and is being touted as the most comprehensive report ever on the "offshore economy." It also finds that private banks are deeply involved in running offshore havens, with UBS, Credit Suisse and Goldman Sachs handling the most assets.

And the crazy thing is, of course, that it is legal, and that we allow this, but to go back to the beginning of it all, what's really insane is that, because of "campaign contributions" to their--our--legislators, the laws were written for the wealthy in the first place, so they could get away with this kind of rather treasonous obscenity in the first place. 

And sure, the wealthy will always have the laws written for themselves first but let's not let it be THIS easy for them. Let's at least see to it this is rescinded and made illegal.  Let's at least do that. Then, after that, let's take away tax cuts for offshoring jobs in America.

It's difficult to believe we even have to say this.

Link:s  

Matt Taibbi Explains Wall Street’s "License to Steal," Offshore Tax Havens and Private Equity Firms

"Griftopia: A Story of Bankers, Politicians, and the Most Audacious Power Grab in American History." (Spiegel & Grau, 2011)

Matt Taibbi & William Black on Bailout Secrets & How New Foreclosure Deal Spares Banks from Justice

Jan 11, 2013 | STORY

"Failure of Epic Proportions": Treasury Nominee Jack Lew’s Pro-Bank, Austerity, Deregulation Legacy

Jan 11, 2013 | STORY

Matt Taibbi: After Laundering $800 Million in Drug Money, How Did HSBC Executives Avoid Jail?

Facts about our country right now

No way to run a government

 

And no way to run a nation.

Insanity.