Dear Holly, 3 to 4 decades ago the nominal tax rate for business was around 70%, mighty high you might say. But it was realized by the capitalist class that if they wanted social harmony between the classes then certain concessions had be provided for the working classes such as free universal health care, education and a good welfare system to ensure them a reasonable standard of living. The capitalist class were still very wealthy as they extracted surplus value (profits) from each and every waged labourer.
The advent Globalization and the subsequent deregulation of business created an environment that pitched one country against the other to provide the best possible conditions to attract the vast sums of capital controlled by the world's multinationals. This meant providing huge tax incentives while attacking the wages and conditions of the working-class. A recent study by the US government found that even though the tax rate is now 35% for business that because of further tax concessions made by the Bush administration, 66% of business pays little or no tax! This has now resulted in the US being the wealthiest but the most polarized nation in the world. The richest 1% of the population owns as much as the bottom 90%. It's not a simple matter of the rich taking care of everyone else. The working-class, the vast majority of humanity and the producers of ALL value, are entitled to a decent standard of living. If the rich want to hoard their obscene wealth the consequences will be civil unrest unseen since Vietnam. You can't impoverish the workers, send them to die in imperialist wars of conquest and then reward Wall St Bankers for swindling the American workers by then rewarding them with hundreds of billions of tax payers money and then put the burden of their malfeasance on the back of the workers and expect them to eat it. They won't. And I am counting on just that, with much optimism for real change, not Obama’s small change Regards LW On Oct 11, 3:25 pm, Hollywood <[EMAIL PROTECTED]> wrote: > Gaar, > > Show me where Sen. Obama said he would force the rich to take care of > everyone else. > > On Oct 10, 2:54 pm, Gaar <[EMAIL PROTECTED]> wrote: > > > > > Seems anyone who PRODUCES in this Country is SCARED TO DEATH that > > Obama may be Elected. > > > I believe Class Warfare is well under way. > > > Barack Obama seems to be starting this "War" between U.S. Citizens, by > > promising the "Masses" that he will make the "Rich" take care of > > everyone else... > > > On Oct 10, 9:34 am, fedup <[EMAIL PROTECTED]> wrote: > > > > Give this some good hard thought. I am a small business owner with > > > over 30k in tax debt already because I opted to do a payment plan and > > > hire employees to grow my business and use the extra revenue to pay > > > off my Taxes. Now I stare a 30k+ per year tax increase in the face. I > > > am a sub chapter S and my tax increase doesn't include the tax > > > increase to the Distributor that gives me the rights to market his > > > products and shares in my employee salary responsiblities. > > > > What does this mean to you? It means that Small Businesses, the only > > > bright spot in the economy (added 300k jobs this year), will be forced > > > to lay off employees. I know my small business can not absorb 30k > > > every year. My distributors can not absorb their increases. I know I > > > can't finance any more taxes. Whats left? Layoffs. I have spent the > > > past three years building a business. I started the business with > > > nothing and now employ 5 people only to have a socialist minded > > > President erase my efforts? I don't think so. > > > > Did you know that the last time a President raised taxes during a > > > recession we ended up with a depression (hoover). Did you know that > > > the last time a Democrat was in office during an energy crisis we > > > ended up with double digit interest rates, hyper inflation and a > > > housing crisis (Carter). His answer? Legislation that forced banks to > > > give loans to people who couldn't afford them. Clinton upped the anti > > > when he was in office. What did we get? Another housing crisis. What > > > will happen when Obama forces higher taxes and more expensive > > > regulation on Banks that are already struggling? COLAPSE! > > > > You actually believe that the markets are crumbling just because of > > > the housing/banking crisis? I think not! It's also because investors > > > are scared of what will happen when a Democratic Majority and a > > > Democratic president have control of DC. And the Dems want to blame > > > Bush? Whatever! > > > > You want to debate about that? You want to argue the facts? Good for > > > you! I chose to take action in the hopes that I can prevent disaster, > > > because nobody feels like debating when they don't have a pot to piss > > > in. The next job could be yours. > > > > Sincerely, > > > Angry Small Business Owner- Hide quoted text - > > > - Show quoted text -- Hide quoted text - > > - Show quoted text - --~--~---------~--~----~------------~-------~--~----~ Thanks for being part of "PoliticalForum" at Google Groups. For options & help see http://groups.google.com/group/PoliticalForum * Visit our other community at http://www.PoliticalForum.com/ * It's active and moderated. Register and vote in our polls. * Read the latest breaking news, and more. -~----------~----~----~----~------~----~------~--~---
