corporate media

Tax Facts Show Lower Personal Income Taxes Will Not Create Jobs

taxformsWe've noticed a hell of a lot of political B.S. baffle going on, in particular on business taxes. What happens is politicians conflate small business taxes with the individual income tax and that is due in part to the actual tax code.

The GOP typical claim is a lower top personal income tax rate will allow businesses to hire more people. That is really a lie. Business profits can enable more hiring, tax refunds for hiring and retaining employees can incentivize new jobs, but the personal income tax rates for those who own businesses has negligible effect.

One thing that gets lost in the rancor are business tax deductions. An employee's salary and most benefits are a business deduction. The business owner would not pay taxes on the costs of hiring a new employee beyond the payroll taxes associated with hiring, about 6.2% of salary. The most important element to hiring is demand for goods and services provided by the business, not taxes.

There are four most common business entities in the United States. Corporations, partnerships, S-corporations and sole proprietorships. Partnerships are primarily two types, a limited liability partnership (LLP) or a limited liability company (LLC). There are also other types of businesses, such as RICs, which are glorified investment vehicles with capital gains tax pass through. S-corporations also allow pass through taxes, although not as lenient as partnerships. Below is a graph of number of these firms by type, who had at least one paid employee during part of 2009.

 

type of business 2009

 

Americans Are Awash In Spin

orwellian
I have come to the conclusion that Big Brother's subjects in George Orwell's 1984 are better informed than Americans.
 
Americans have no idea why they have been at war in the Middle East, Asia and Africa for a decade. They don't realize that their liberties have been supplanted by a Gestapo Police State. Few understand that hard economic times are here to stay.
 
On October 27, 2011, the US government announced some routine economic statistics, and the president of the European Council announced a new approach to the Greek sovereign debt crisis. The result of these funny numbers and mere words sent the Standard & Poor's 500 Index to its largest monthly rally since 1974, erasing its 2011 yearly loss. The euro rose, putting the European currency again 40% above its initial parity with the US dollar when the euro was introduced.
 
On National Public Radio a half-wit analyst declared, emphatically, that the latest US government statistics proved that the recovery was in place and that there was no danger whatsoever of a double-dip recession. And half-brain economists predicted a better tomorrow.
 

Media Porn Hides Real Threats to Children

 

 

Who knows if Casey Anthony is guilty or innocent? Even Casey might not know at this point. We do know one thing, without any doubt. As our economy and nation crumble around us, we're being amused to death by the corporate media. They've got good reason to keep the headlines on Casey. Absent a major distraction, there might be a focused look at the misrule and looting of this country for the past decades that has created the real threats to the health of children.

"Infant mortality is an important indicator of the health of a nation, and the recent stagnation (since 2000) in the U.S. infant mortality rate has generated concern among researchers and policy makers." Morbidity and Mortality Weekly Report, CDC, November 2009

 

Hidden Truths About Nuclear Power

Michael Collins
explosionat3op.jpg

A poster at The Agonist, Joaquin, published an elegant and important analysis this weekend. His tightly packed, brief post made three key points. We're headed for an ugly future with nuclear power based on shortages and future fuel cycles more volatile than those imploding and exploding in Japan. Governments, the nuclear industry, and the media are avoiding this issue entirely. As a result, the rulers and technocrats who got us to the latest meltdown cannot be trusted to make any more decisions about energy needs. (Image)

"The truth is, there is a big fat lie that the nuclear power industry and the media are foisting on the public and that has not changed." Joaquin

"What is it", the big fat lie, Joaquin asks.