Thom Hartmann: Thanks to trickle down - we're headed to another collapse

[grumblesNhoneybee]

ya, im never filling out a 1099 bank sheet again,

[truthout911]

Progressacunts like Thom stink.

[Athruebelief]

Stand up and tell congress corporations need to pay their fair share.

Tell your friends to support the Stop Tax Haven Abuse Act (S 1346, HR 2669), a comprehensive bill that would close down huge amounts of illicit flows and tax gimmicks. They can learn more: wwwDOTips-dcDOTorg/campaigns/t­­ax-dodging-ceos

[Athruebelief]

Executive Excess 2011: The Massive CEO Rewards for Tax Dodging

By Sarah Anderson, Chuck Collins, Scott Klinger, Sam Pizzigati

CEOs rake it in while their corporations dodge taxes.

wwwDOTips-dcDOTorg/reports/exe­cutive_excess_2011_the_massive­_ceo_rewards_for_tax_dodging

[Athruebelief]

How do tax havens work? One common corporate

accounting technique, “transfer pricing,” helps

corporations shift profits offshore. Technology and drug

companies regularly open shell companies — in tax

havens — that hold their intellectual property rights.---IPS

[Athruebelief]

They then charge their U.S.-based operations inflated

amounts for the use of these rights. These inflated costs

get deducted off U.S. taxes. The overseas tax haven profits

go un- or lightly taxed. Adding insult to injury, a coalition

of corporate tax dodgers is now asking Congress

to reward their tax avoidance with a deeply discounted

five percent tax rate if they bring these funds back home

where many of them started.10---IPS

[Athruebelief]

This offshore tax gaming has spawned a massive

global tax avoidance industry, with teams of lawyers

and accountants who add nothing to market efficiency

or product development. This “shadow” banking industry

played a key role in the 2008 financial crisis. The

“shadow” system’s reckless financial maneuvering oper-

ated through layers of opaque offshore tax havens.----IPS

[Athruebelief]

Accounting games like “transfer pricing” have

sent the corporate share of federal revenues plummeting.

In 1945, U.S. corporate income taxes added up

to 35 percent of all federal government revenue. This

year, corporate income taxes will make up just 9 percent

of federal receipts.12 In 1952, the year Republican

President Dwight Eisenhower was elected, the effective

income tax rate for corporations was 52.8 percent. Last

year it was just 10.5 percent.13

[Athruebelief]

Tax havens are costing the federal treasury, by

one estimate, $100 billion a year.8 These havens are

speeding the transfer of wealth out of local communities

and the global south into the bank accounts of the

planet’s wealthiest and most powerful.9 Tax havens, or

more accurately “secrecy jurisdictions,” can also facilitate

criminal activity, from drug money laundering to

the financing of terrorist networks.

[Athruebelief]

S&P 500 CEOs last year collected $10.8 million in average compensation, a total that includes the value

of new stock and options grants awarded during the year. This $10.8 million represented a 27.8 percent

compensation increase over 2009.

• The gap between CEO and average U.S. worker pay rose from 263-to-1 in 2009 to 325-to-1 last year.---------IPS

[BannedUfos]

and they say Republicans are against wasteful spending, that is BS.

[Lightmane321]

I love when people call Thom a nazi or a communist.  That just shows how far out of touch with reality they truly are. Thom is an old school American. The kind from the 40's & 50's, but without all the racism & bigotry. He's a "real" patriot & not some stupid flag waving chump who knows about as much as Sarah Palin.

If the progressives ever really get power, we could bring America back to what it used to be; the greatest nation in the world, but as long as the Cons are in power; forget it.

[Lightmane321]

What cons are clueless about is that it was democratic policies that built this nation & made it what it was. A mixture of socialism & regulated capitalism, to basically keep corporate america in check & not let them rule. Thanks to the cons (from 1980 on), they now rule & everyone else is suffering, and STILL these cons all over America think it's the dems who have screwed everything up. ROFL!

[londubh2007]

So why doesn't the Fed loan directly to the gov't?

[luvcheney1]

@londubh2007 Guess you havent defined "QE1 and QE2" yet, you stupid imbecile.

[Athruebelief]

@luvcheney1 Still selling your gold standard fallacy moron?

[luvcheney1]

@Athruebelief I`m still having a surging net worth. Up about $60K in last 2 months. Live on our work, get rich on our Capital. Meanwhile, the country falls in the toilet. Glad I`m a Moron, with a Capital "M".

[LSH20101]

For those of you that don't know what a corporatocracy or corporate socialism is..do the rest of us a favor and look it up.

[Staticjumper]

Lenin has to be giggling his mummified butt-off at seeing an American on RT espousing communist ideals. Spassiba Komrade Hartmann!

[NAIPvideos]

Thanks Thom. God I wish the mainstream media news was like your show. Trillions given to the Banksters and the economy still sucks. Congress is corrupt and beyond fixing. We are friggin doomed!

[thatguyontheright1]

@urbanpanhandler George Bush Sr. Called Trickle Down economics "Voodoo Economics" because it doesn't work. Trickle Down economics is based on the Laugher Curve, laugher because it doesn't work. Trickle Down Economics Does Not Work. It cant work, it will never work, has it worked for US? No. Has it worked for the Rich? yes...but I guess they are the only ones who matter, right?

[urbanpanhandler]

@thatguyontheright1

Sounds like you are a true socialist, wtg on drinking the kool aid!!

[thatguyontheright1]

@urbanpanhandler Stop using the word if you don't know what it means.

[luvcheney1]

@thatguyontheright1 No, corporations are the only ones who matter. They provide us with what we demand, and employ us. Fucking corporations seems to be the business of the Left. They respond, by leaving the US.

[thatguyontheright1]

@luvcheney1 No, Corporations are not people, no matter how you shake it, they can not be people, even if they are considered by law. By law, many TG individuals consider themselves genders other than their original, and its recognized by law, but does that mean they actually changed their genders? No. Its the people who matter.

[luvcheney1]

@thatguyontheright1 Corporations are owned by people, people work there, and people buy and use the products, and profit goes to people, the 50% of Americans who own stock shares directly, or indirectly through pensions. Exxon is your kids kindergarten teacher, the janitor at the fucking park. They are ONLY about people.

[thatguyontheright1]

@luvcheney1 Corporations are about MONEY, not people.

Ok, if Corporations are people. then why are Corperations able to get around laws like they can? I saw we put the corporations on trial if they break ANY law. If they kill someone, revoking of their business license for 30 years. Multiple counts? More time.

Anyway you shake it, corporations are still not people.

[luvcheney1]

@thatguyontheright1 Corporations are not about money, because, as you said, they are not people. They are formed by people, for people. They are owned by people, patronized by people, for the purpose of profits, "money", for people. The same purpose firemen fight fires, cops fight bad guys, teachers teach, doctors cure. Money. As Adam Smith stated, "we do not dine from the butcher`s generosity, but from his self interest", or something like that. Or, "nobody does shit for nothin".

[thatguyontheright1]

@urbanpanhandler So...trying to help the working class is Socialist. I don't think you know the meaning of the word "Socialist"

[ddnguyen278]

Good ole tinkle down economics.. Oh it works all right the money goes to the rich and they laugh all the way to the bank.. oh you wanted a slice of that pie? Hmm maybe they will loan it too you at 25% interest rates. MHAHahahahaa

America is in a massive criss of confidence right now, it would be so easy for a radical right wing fascist regime (Tea?) to take over just need to claim they were doing it for the "people".. hehe that's what they all say until they march you into the gas chambers..

[carefulcarpenter]

@ddnguyen278 Do you have a trade or a special skill? Do you have some free time on your hands? Let's keep the Big Bad Boy Middleman out of this deal.

[pussyfaceize]

Crazy, try searching -who is barry soetoro? by Nomessiah- gotta listen to this awesome song about the fraud of Barack Obama!

watch?v=hXO6TZJR3XM

[carefulcarpenter]

Hierarchy is failing to provide justice and confidence-- that is because hierarchy rests in secrecy and order. "People of the Lie" (M Scott Peck) illustrated how hierarchy protects the status quo at the detriment of true merit and calculated risk-- both of which are pillars of a just society. Corruption comes in with speculation and destroys all trust-- truth being its first victim.

[wilbertbenjamin]

we love you man!!!! great work.

[PQPRockford]

Bernie Sanders for President. Ron Paul for VP

[bjornskivids]

@PQPRockford

You realize they're on completely opposite ends of the spectrum and would never do that, right?

[PQPRockford]

@bjornskivids There has been talk for quite some time about Dennis Kucinich and Ron Paul on the same ticket. They are friends and often vote the same way on some issues. Ralph Nader and Ron Paul have also approached one another. It is the hope of many that Progressives and Conservatives can come together to stop the wars and end the Fed. Obviously the two camps are far apart on some economic issues and programs like health care. But to work together on those issues they agree on is a start.

[BabylonsKing]

I wrote a Skaving comment about B.O. but somehow it sounded like I was a racist and I'm not. This President now and george bush are the same people working for Wall Street and if nobody goes to Jail knowing what they've done then WHY in the FU*K do the Law enforcement have the RIGHT to put People in Jail for smoking a god damn JOINT while the "ASS HOLES STEAL THIS COUNTRY TO THE POOR HOUSE"???

[mikethecolorist]

So, let me get this right, when our government is talking about everything that needs to be cut, we pare pretty much paying bankers, in the form of interest, Millions of dollars which could instead be used to benefit the people? Damn!

[ZedAlfa273]

Unless demilitarize, then collapse.

[LacrimaLucis]

I don't get how that scam worked, the part about the banks lending the money *back* to the US treasury at a higher interest rate -- why would the US treasury need to borrow money from those banks ?

[carefulcarpenter]

@LacrimaLucis Money is debt.

[trick29420]

@LacrimaLucis because The Federal Reserve is privately owned and not really a part of our treasury. The United States Gov. does not control it.

[rebecaha]

Nationalize all banks now! This is one way to save us from these criminals.

[trick29420]

@rebecaha yeah because our government is SOOO fiscally responsible.

[sent2protect]

Mr.Hartmann thank you for having the courage to expose the zionist activities-you are a true freedom fighter-without hurting anyone physically,you are striking major death blows to them-i thank you.

[carefulcarpenter]

"Crooked deal" ?

Those who understand how the creation of money works......

Profit is not a bad thing, but doing nothing is destructive. What are people doing? Pointing fingers, labeling, scape-goating, fear-mongering, and NOTHING.

Agreed, "trickle-down" depends on everyone making it work. The firewall was the middle class, not the wealthy.

[karlsantos]

@carefulcarpenter

Profit is not a bad thing, but it should be the result of added value.

When a teacher works with children and they learn, there is added value, when a worker works on making a car there is added value, when a banker signs up a loan there is no added value.

It used to be that Wall Street was a meeting point between people that had ideas to create added value and the people that had money and no ideas. That worked. Now it is a place where people with no ideas use scams to rob.

[carefulcarpenter]

@karlsantos What have you been doing to make 'trickle-down' work? I've never been robbed by Wallstreet investment bankers, but my wife works with an octogenarian who lost all of his investment money will Wadoff when he made-off with all his money. People loved the sweet deal and the high return. They knew it was a scam, but since they were seeing high returns they didn't mind that new investors were joining in.

Scam artists rob from other scam wanna-bees.

[carefulcarpenter]

Look at the frenzy starting with silver-- observe for yourself. Who is going to be robbed? Not me. I am a producer. I get cheated now and then by the good old middle class folk who think 'value added' means my kids must suffer--not theirs. I have no benefits or protections-- but most people are not much different than the Wall Street mind-set when they smell a deal. I always deliver what I promise, but seldom get paid what it is really worth as far as 'value added'. What's your profession?

[bjornskivids]

@carefulcarpenter

You're no producer. You provide a service. Unless you own every step in the means of production (lumberyards, distribution centers, delivery vehicles) you aren't a "producer", and you're going to get screwed right along with everyone else.

And being a builder doesn't mean much when nobody can afford homes.

[carefulcarpenter]

@bjornskivids "You're no producer. You provide a service".

I can do both.  I didn't know the parameters were so tight on the term "producer". You would see from my channel that I can manufacture fine things-- what do you need/want? How will you pay (check, cc, silver bullion, gold coins, trade, food, paypal)? I can provide "value added" -- to your satisfaction. Can we be trading partners?

[carefulcarpenter]

@bjornskivids Wikipedia: "Producer, in economics, an individual or organization that creates goods or services"

I've been screwed over the years-- as I tried to point out, it was the middle class who didn't carefully play their proper role in the 'trickle-down" economy-- from my experience. The wealthy were usually fair and respectful of my fine, and my customary, work. Who were the least desired customers for not only myself, but construction contractors? Doctors, lawyers, engineers.

[karlsantos]

@carefulcarpenter

Like the saying goes: when sitting on a gambling table if you don't who the duck is, then you're it.

[rickbar123]

You can smell the depression comming.