S&P Downgrades US Credit - Page 14

And yet they own how much capital? I look at it this way; play Final Fantasy VII. You can level up materia and sell them for a huge profit if you pick the right one. Let's go with the "All" materia. It sells for 1.7 million gil at max level. Sell ten of these, and you have 17 million gil. But honestly, how much gil do you need in the damn game? Half of that? The extra is just laying around. Why not increase their taxes to where that money is actually used, instead of the money being "invested" into "jobs" that these richest in America "create" while actually cutting thousands upon thousands of jobs and giving themselves millions in bonuses because they "earned it".

This happened because S&P saw what the American people is starting to see. When you've got Boehner and the rest of the sane (or as sane as you can get in Congress) Republicans being held by the balls by the Tea Party freshmen into demanding unrealistic cuts without any new taxes it's absurd. Why not raise taxes to pre-Bush levels? How about pre-Clinton? All of those would be lower than when Reagan was president.

I leave the thread with this. I worked for two months the summer of 2010 (I would have this summer, but no one would hire me in this marvelous Reaganomics economy) for a factory. I made around 2000 dollars before taxes. In federal and state and local tax I lost around 400 dollars before the temp agency took their cut. Around tax refund season I got 132 dollars back. So I paid a good 250 dollars in taxes. Okay, whatever. I accept that. I know it's not much compared to what people with actual, regular jobs pay.

But really, if I pay that much, won't the bigger corporations pay more? As in, more than 250 dollars in taxes?

GE, a multi-national and multi-billion dollar company, reported 14.2 billion dollars in international revenue and 5.1 billion dollars in revenue that occurred here in the United States. How much did they pay in taxes? Zero dollars. 0. Null. Not even a cent. Not only that, but the United States paid them 3.2 billion in tax refunds. They paid less taxes than I did, and they got a tax refund how many times higher than I did? They paid fewer taxes than every middle-class and poor person in the United States.

How is that even fair. How. And when the Democrats want to close enough tax loopholes to help make up a trillion dollars in revenue (a move that, if you read the New York Times article I link below, Reagan did when he found out back during his time in office that GE and other huge corporations were dodging taxes by loopholes and other means) the Tea Party holds everyone up with a bunch of "Well then fine, let's let America default." And when they're told that might crash the American economy, and along with it the world's economy, they shrug. They want to start a global great depression because a few millionaires and billionaires might have to actually pay the taxes they were supposed to pay when the tax code was written up.

Closing tax loopholes isn't raising taxes. It's stopping the cheats from cheating us anymore. But, you know, they "create jobs" with that money. Tell that to the numerous unemployed in this country. Especially explain that to the numerous "99ers," the people who have gone over their alloted 99 weeks on unemployment benefits. Because they're just lazy assholes who want to starve. That sounds about right.

New York Times article on GE income taxes