The federal tax system has turned individuals into sharecroppers of their own lives.
"One of the greatest detriments to job creation in
the US is the overseas income deferral law. This unbelievable gift to
transnational corporations is at the heart of free trade,
globalization, offshoring and outsourcing. Presently these corporations
are sitting on $2.2 trillion in untaxed profits, which is costing the
American taxpayer almost $800 billion in lost tax revenue if like in
2006 they are allowed to bring the funds back at 5-1/4% taxation. Those
conglomerates want to bring those funds back into the US tax free,
which means $1 trillion in lost taxes, taking advantage of the current
financial situation in the US. Five years ago Congress passed
legislation allowing $350 billion to be returned to the US at 5-1/4%
taxation, not the normal 35%, because these corporations said they
would use the funds to create jobs. Very few jobs were created and a
large part of the funds were used to purchase company stock, which rose
in value, allowing the officers of these corporations to sell stock
from options and make billions of dollars in profit for themselves.
These are the same corporations that have been responsible for the loss
of 11.7 million jobs, the loss of good paying jobs 450,000 American
companies and the loss of hundreds of billions of dollars in tax
USuncutMN says: Tax the corporations! Tax the rich! Stop the cuts, fight for social justice for all. Standing in solidarity with http://www.usuncut.org/ and other Uncutters worldwide. FIGHT for a Foreclosure Moratorium! Foreclosure = homelessness. Resist the American Legislative Exchange Council, Grover Norquist and Citizen's United. #Austerity for the wheeler dealers, NOT the people.
USuncutMN supports #occupyWallStreet, #occupyDC, the XL Pipeline resistance Yes, We, the People, are going to put democracy in all its forms up front and center. Open mic, diversity, nonviolent tactics .. Social media, economic democracy, repeal Citizen's United, single-payer healthcare, State Bank, Operation Feed the Homeless, anti-racism, homophobia, sexISM, war budgetting, lack of transparency, et al. Once we identify who we are and what we've lost, We can move forward.