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Tax Time

You might not remember your anniversary or your spouse’s birthday, but one date is etched in the mind of every American… April 15th.  Over the years Tax Time has come to mean several things. For some it’s the time of year that Uncle Sam gives back part of  the money he took out of your checks the previous year (and gained interest on in the meantime). To others it’s the time of year when “momma’s boyfriend” moves back in for a month or so to reap the rewards of her giant child tax credit return.  Either way it’s a great time to fool yourself into thinking that something good is happening.

After the budget debates in a few weeks, Americans will learn just how bad things actually are.  From speaking with an unnamed source who has access to preliminary budget reports, the DCN was informed that the word “unsustainable” appears in almost every one.  What does this mean for the average American? It means the only way out of the mess is government cutbacks coupled WITH tax increases.

Until now, the country’s approach to the looming debt crisis was the equivalent of signing up for another credit card to help pay for the previous ones.  This approach was not exclusively a Democratic or Republican approach as both parties continued to increase spending.  People from each side can try to justify their side’s spending, but the fact remains that they both spent borrowed  money on what they wanted to and now it’s time to pay up.  The only problem is who’s going to pay?

In an age where powerful MEGA-Corporations have bought up the media and the politicians, while simultaneously conning us into choosing one of two sides – Democrat or Republican – so we can fight about illegal immigrants, abortion, guns, gays and prayer in school, it’s easy to overlook a very disproportionate statistic that paints an astonishing picture:

“Enjoying record profits and taxpayer-funded bailouts as the economy slowly recovers from a financial crisis, nearly two-thirds of US corporations don’t pay any income taxes, instead opting to abuse tax loopholes and offshore tax havens. According to this study from the non-partisan Government Accountability Office, 83 of the top 100 publicly traded corporations that operate in the US exploit corporate tax havens. Since 2009, America’s most profitable companies such as ExxonMobilGeneral ElectricBank of America and Citigroup all paid a grand total of $0 in federal income taxes to Uncle Sam. Tax havens alone account for up to $1 trillion in tax revenue lost every decade.” – USUncut

Well there’s one group of people who won’t be paying.  Let’s not forget that these corporations belong in the top 20% of Americans who possess 85% of the wealth.  Yes, you read that correctly, and if you said to yourself, “that means the people with all the money (who don’t pay taxes) are going to make the people without all the money (who pay taxes) subsidize the cost of government spending (a great portion of which is promoted by those same people who have all the money and don’t pay taxes),” then give yourself a cookie.  After all, you’re paying for it.

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