Clearing up the record
Now that the election dust is settling why don’t we test
some of the wild exaggerations passed off as truths for the last several
months?
The first exaggeration is “the rich will create jobs if they
keep more of their money.” The truth is
that only 3.6 percent of these folks are entrepreneurs – people who are likely
to create jobs. The others hold their
wealth in investments that bring them nice returns but don’t necessarily create
new jobs.
Please don’t jump to the conclusion that I’m urging higher taxes on the wealthy. I’m just challenging the mythology of trickle-down economics.
The next exaggeration is, “America is the home of equal opportunity.” Well if we measure this by wealth equality in
150 other countries, we’re not doing so well.
Only four countries have more wealth inequality than us: Namibia, Zimbabwe,
Denmark and Switzerland. That makes us 146th on the list.
The next whopper is, “the super-rich pay their fair share of
taxes. Well not true. From Paul Bucheit on alternet.org, “An amount
equal to ONE-HALF the GDP is held untaxed overseas by rich Americans. The Tax Justice Network estimated that
between $21 and $32 trillion is hidden offshore, untaxed. […] that's $8 to $12
trillion in U.S. money stashed in far-off hiding places. […] that’s up to $750
billion of income is lost to the U.S. every year, resulting in a tax loss of
about $260 billion.
Well, certainly corporations pay their fair share of tax,
right? It depends on how you want to
measure “fair share.” Since 2008 their
average tax rate paid has been about 10 percent. Going back to 1987 it was an average 22
percent.
Not too fast here.
What about those 47 percent who pay no income tax? Yes but they did pay taxes. For every dollar paid in payroll taxes by
employees, corporations have paid 22 cents.
That may be true but someone has to pay for the
welfare-cheats who live “like royalty” on the government dole, right? And we all know who they are. Well let’s take closer look: The average single black or Hispanic woman
has about $100 in net worth.
But what about those people abusing the use of food
stamps? Oh, you mean the elderly, disabled
and working poor who get ninety percent of this outlay? Yes of course, they are the people abusing
this glorious benefit of $4.30 a day for food.
Maybe so but this president is “the food stamp” president,
right? Not really. From Paul Bucheit on alternet.org again, “Temporary
Assistance for Needy Families (TANF) has dropped significantly over the past 15
years, serving only about a quarter of the families in poverty, and paying less
than $400 per month for a family of three for housing and other necessities.”
All that said, I think the people who spread this
disinformation are about to get smarter.
In a recent interview, Louisiana Republican Governor, Bobby Jindal said
the GOP needs to "stop being the stupid party" and truly expand its
tent. He went on: "It is no secret
we had a number of Republicans damage our brand this year with offensive,
bizarre comments - enough of that," he said, according to Politico.
"It's not going to be the last time anyone says
something stupid within our party, but it can't be tolerated. We've also had
enough of this dumbed-down conservatism. We need to stop being simplistic, we
need to trust the intelligence of the American people and we need to stop
insulting the intelligence of the voters."
Bravo, Mr. Jindal!
Somehow, the anti-intellectual, superstitious, hate-mongering extremes
of the Republican party took over and in doing so has diminished the power of
the message of fiscal conservatism.
We need honest, intelligent, and informed conservatives to
counter-balance liberal thinking. But we
don’t need distortions from either side designed to work up our emotions. In other words, more light and less heat.
Robert DeFilippis
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