US Uncut.org: Time to make tax dodger corporations pay their share

I wrote a post on February 3 - USA Uncut? Can we finish what UK Uncut has started? - and apparently some other people were thinking the exact same thing. Or, I’m just brilliant, and these other folks caught on. I’ll go with the former to be safe. UK Uncut.org was such an obviously grand scheme that we had to give it a go on this side of the pond.

Thanks to Wall Street, there’s no doubting that our country is in a heap o’ trouble paying the bills. To try and balance these budgets on the backs of taxpayers, public employees, teachers et al who’ve already been brought to the brink by Wall Street’s antics is ludicrous. This is especially so when you remember that middle-class wages have, essentially, ‘flatlined’ over the last 30 years (also when adjusted for inflation).

For some bitter icing on the cake, corporate profits have ballooned over the last couple of years - while the middle-class is going down for the third time.

American businesses earned profits at an annual rate of $1.659 trillion in the third quarter, according to a Commerce Department report released Tuesday. That is the highest figure recorded since the government began keeping track over 60 years ago, at least in nominal or noninflation-adjusted terms. New York Times. November 23, 2010

You are now making - adjusted for inflation - about 1% more than your parents did 30 years ago, or about $280. You say “Hey, my family was doing better, and buying more than my parents were.” That’s probably because both of you are working - harder and longer. For less. And, barely hanging on.

Thanks to the Desert Beacon! And the Economic Policy Institute

Yet, as Robert Reich points out, the American economy is twice is large as it was back in the day. Huh? So, where has all the money gone? Certainly not to the states and localities. Was Wall Street able to steal that much? Well, Wall Street was able to steal a lot. And, whatever was left over, went to the upper 1% of earners - I know, the word ‘earners’ makes me laugh, too. It’s hard to imagine the like of John Harrah - heir of casino mogul, Bill Harrah, an ‘earner’. The lad has probably never exactly sweated a mortgage payment on the $75 million, 36,000 sq. ft RancHarrah estate in Reno, Nevada.

Between the Bush tax breaks, and Obama’s extension of same, the slashing of the estate tax rates and lower capital gains taxes - it’s been one big, long payday for America’s wealthy.

It’s time to pay the piper.

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