seajane

Thoughts from a Yellow Dog Democrat living in Olympia, in the great BLUE state of Washington

I am a liberal because it is the political philosophy of freedom and equality. And I am a progressive because it is the political path to a better future. And I am a Democrat because it is the political party that believes in freedom, equality and progress. -- Digby

Sunday, October 24, 2010

I'm Tired of Subsidizing the Rich

I'm sick and tired of my income being unfairly redistributed to the rich. We have got to stop extending tax breaks to the rich. This week it was reported that Google pays only a 2.4% tax rate. We lost $3.1 BILLION in tax revenues from Google alone due to a tax shifting loop hole. Who makes up that $3.1 billion? -- The middle class.

I'm sick and tired of this phoney whine by the rich that small businesses make up 50% of the income andnot extending their precious tax breaks will adcversely impact small businesses. Bull shit. They keep tossing out that small businesses make 50% of the income. But they are not defining small business as mom and pop businesses with small payrolls or low revenues like the SBA. They are using the IRS definition which \has to do with the number of owners, not employees or receipts. So partnerships and LLCs are small businesses in the eyes of the IRS -- like Bechtel and Koch Industries.

Here's some others as identified by Forbes:

Company, State
Platinum Equity, CA
Washington Cos, MT
Sammons Enterprises, TX
Ebsco Industries, AL
Ingram Industries, TN
Roll International, CA
Berwind, PA
API Group, MN
Deseret Management, UT

They have total revenues of $212.95 BILLION and employ 85,879 workers. And they can't afford to go back to the same tax rate they had during the first 6 years of the Bush administration?!! They need me to subsidize them??!!

I'm sick and tired of this arguement and refuse to stand by while our elected officials keep redistributing my income to the wealthy.

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