• About
  • Contact
  • Submit News
Saturday, April 1, 2023
No Result
View All Result
NEWSLETTER
  • Home
  • World
    • Business
    • Economy
    • Politics
    • Geo-Engineering
    • Environment
    • Police State
    • Foreign Policy
  • U.S.
    • Federal Reserve
  • Globalist Agenda
    • Secret Societies
    • World Order
    • The Globalists
  • Health
    • Big Pharma
    • Fluoride
    • Food
    • Gmo’s
    • Vaccines
  • Sci/Tech
    • Space
    • Trans-Humanism
  • Media
    • Documentaries
    • Interviews
    • Talks/Lectures
  • More+
    • Ancient Civilizations
    • Astrology
    • Astrotheology
    • Awareness
    • DIY
    • Esoteric
    • Free Energy
    • Hidden History
    • Infographics
    • Knowledge
    • Religion
    • Spirituality
  • Home
  • World
    • Business
    • Economy
    • Politics
    • Geo-Engineering
    • Environment
    • Police State
    • Foreign Policy
  • U.S.
    • Federal Reserve
  • Globalist Agenda
    • Secret Societies
    • World Order
    • The Globalists
  • Health
    • Big Pharma
    • Fluoride
    • Food
    • Gmo’s
    • Vaccines
  • Sci/Tech
    • Space
    • Trans-Humanism
  • Media
    • Documentaries
    • Interviews
    • Talks/Lectures
  • More+
    • Ancient Civilizations
    • Astrology
    • Astrotheology
    • Awareness
    • DIY
    • Esoteric
    • Free Energy
    • Hidden History
    • Infographics
    • Knowledge
    • Religion
    • Spirituality
No Result
View All Result
The Global Elite
No Result
View All Result

Seven Ripoffs That Capitalists Would Like to Keep out of the Media

by Global Elite News
16 December, 2013
in Economics
0
Seven Ripoffs That Capitalists Would Like to Keep out of the Media
FacebookTwitter

Tax-avoiding, consumer-exploiting big business leaders are largely responsible for these abuses. Congress just lets it happen. Corporate heads and members of Congress seem incapable of relating to the people that are being victimized, and the mainstream media seems to have lost the ability to express the views of lower-income Americans.

1. Corporations Profit from Food Stamps

It’s odd to think about billion-dollar financial institutions objecting to cuts in the SNAP program, but some of them are administrators of the program, collecting fees from a benefit meant for children and other needy Americans, and enjoying subsidies of state tax money for services that could be performed by the states themselves. They want more people on food stamps, not less. Three corporations have cornered the market: JP Morgan, Xerox, and eFunds Corp.

According to a JP Morgan spokesman, the food stamp program “is a very important business to JP Morgan. It’s an important business in terms of its size and scale…The good news from JP Morgan’s perspective is the infrastructure that we built has been able to cope with that increase in volume..”

2. Crash the Economy, Get Your Money Back. Die with a Student Loan, Stay in Debt.

The financial industry has manipulated the bankruptcy laws to ensure that high-risk derivatives, which devastated the market in 2008, have FIRST CLAIM over savings deposit insurance, pension funds, and everything else.

But the same banker-friendly “bankruptcy reform” has ensured that college graduates keep their student loans till they die. And sometimes even after that, as the debt is transfered to their parents.

3. Almost 70% of Corporations Are Not Required to Pay ANY Federal Taxes

And that’s even before tax avoidance kicks in. The ‘nontaxable’ designation exempts 69% of U.S. corporations from taxes, thus sparing them the expense of hiring tax lawyers to contrive tax avoidance strategies.

The Wall Street Journal states, “The percentage of U.S. corporations organized as nontaxable businesses has grown from about 24% in 1986 to about 69% as of 2008, according to the latest-available Internal Revenue Service data. The percentage of all firms is far higher when partnerships and sole proprietors are included.”

In recent years the businesses taking advantage of the exemption include law firms, hedge funds, real estate partnerships, venture capital firms, and investment banks.

4. Lotteries Pay for Corporate Tax Avoidance

This means revenue comes from the poorest residents of a community rather than from billion-dollar corporations. Many of the lottery players don’t realize how bad the odds are. Fill out $2 tickets for 12 hours a day for 50 years and you’ll have half a chance of winning.

Some astonishing facts reveal the extent of the problem. Low-income households spend anywhere from five to nine percent of their earnings on lotteries. A Pennsylvania survey found that nearly half of low-income residents planned to gamble at a newly-opened casino. America’s gambling losses in 2007 were nine times greater than just 25 years before.

5. The National Football League Pays No Federal Taxes

One of the most profitable organizations in America, with billions in tickets, TV rights, and merchandise sales, and with an NFL Commissioner who earned more money than the CEOs of Wal-Mart, Coca-Cola, and AT&T, is considered a non-profit. It has a tax-exempt status.

It gets even worse. While the individual teams themselves are not exempt from federal taxes, they enjoy multi-million-dollar subsidies from their states for new and refurbished stadiums. Fans – and non-fans – of the Washington Redskins, the Cincinnati Bengals, the Minnesota Vikings, the Seattle Seahawks, the San Francisco 49ers, and the Pittsburgh Steelers are among those who pay taxes for their hometown football fields. New Orleans taxpayers paid for leather stadium seats. For the Dallas Cowboys, a $6 million property tax bill was waived.

A Harvard University urban planning study determined that 70 percent of the capital cost of NFL stadiums has been provided by taxpayers, rather than by NFL owners.

6. Live on Park Avenue, Get a Farm Subsidy

A disturbing but fascinating report called “Farm Subsidies and the Big Dogs” lists Washington, DC, Chicago, and New York City, in that order, as the worst offenders.

  • In New York, “Many entities receive the federal subsidies at their downtown office buildings, such as 30 Rockefeller Plaza, or at their million dollar residential condos.”
  • In Chicago, “Nearly every neighborhood in the city receives federal farm subsidy payments – including the Gold Coast, Downtown-Loop, Lincoln Park, and even the President’s neighbors in Hyde Park.”
  • In Washington, “Even U.S. Senators are receiving farm subsidy checks.”

Perhaps more of us should become farmers. In Florida, according to Forbes, “anyone could legally qualify their land as farmland by stocking it with a few cows.” Wealthy heir Mark Rockefeller received $342,000 to NOT farm, to allow his Idaho land to return to its natural state.

7. Profit Margin Magic: Turning a dollar into $100,000

Which costs the consumer more, printer ink or bottled water? Calculations by DataGenetics reveal that the ink in a $16.99 cartridge comes to almost $3,400 per gallon. The cost of a gallon of cartridge ink would buy enough gasoline to run the average car for over two years.

Water seems to cost less, until the details are factored in: we’re paying for our own public water, which we’ve given away almost for free, and which comes back to us in no better condition than when it started.

For every 100,000 bottles sold, Nestle pays the proceeds from ONE bottle to those of us (the taxpayers) who own the water.

So This Is Capitalism..

Consumer-exploiting, tax-avoiding, profit-maximizing, responsibility-shirking, winner-take-all capitalism. An economic system which, as Milton Friedman once believed, “distributes the fruits of economic progress among all people.”

Paul Buchheit is a college teacher, an active member of US Uncut Chicago, founder and developer of social justice and educational websites (UsAgainstGreed.org, PayUpNow.org, RappingHistory.org), and the editor and main author of “American Wars: Illusions and Realities” (Clarity Press). He can be reached at paul@UsAgainstGreed.org. (Via Common Dreams)

0 0 votes
Article Rating

18.6k
SHARES
FacebookTwitterSubscribe
PinterestTumblrLinkedin Reddit DiggStumbleupon PocketVkDeliciousBufferWeiboWhatsappXingFlattrMailPrint
Subscribe to Blog via Email
Enter your email address to subscribe to this blog and receive notifications of new posts by email.
Email Address Subscribe
Tags: CapitalismCapitalistsCorporate TaxEconomicsjp morganLotteriesNFL
Previous Post

INFOGRAPHIC: Australia’s Banking System: Who is Behind Your Credit Card?

Next Post

The Grain That Damages The Human Brain

Global Elite News

Your Source for Alternative News and Information. Deep Independent Journalism About Who Really Controls The World.

Related Posts

Is the Audit the Fed Movement Losing Momentum?
Economics

Is the Audit the Fed Movement Losing Momentum?

by TGE News
15 October, 2015
69
Is Gold a Stupid “Pet Rock” or a Bedrock Asset?
Economics

Is Gold a Stupid “Pet Rock” or a Bedrock Asset?

by TGE News
23 July, 2015
62
FDIC Plots a Bank Heist Involving YOUR Accounts
Economics

FDIC Plots a Bank Heist Involving YOUR Accounts

by TGE News
24 April, 2015
87
Richard D. Hall: The True Reason For Debt
Economics

Richard D. Hall: The True Reason For Debt

by TGE News
17 March, 2015
1
Currency Turmoil Making Metals Ownership More Attractive
Economics

Currency Turmoil Making Metals Ownership More Attractive

by TGE News
11 March, 2015
41
Princes of the Yen: Central Banks and the Transformation of the Economy (Full Documentary)
Documentaries

Princes of the Yen: Central Banks and the Transformation of the Economy (Full Documentary)

by TGE News
20 December, 2014
0
The Sinking Of The Titanic: Another Rothschild-Rockefeller-Morgan Conspiracy?
Conspiracies

The Sinking Of The Titanic: Another Rothschild-Rockefeller-Morgan Conspiracy?

by TGE News
11 December, 2014
288
7 Candidates for Corporate Rip-Off of the Year
U.S. News

7 Candidates for Corporate Rip-Off of the Year

by TGE News
25 November, 2014
34
Load More
Next Post
The Grain That Damages The Human Brain

The Grain That Damages The Human Brain

Human Resources (Documentary)

Human Resources (Documentary)

Subscribe
Notify of

This site uses Akismet to reduce spam. Learn how your comment data is processed.

0 Comments
Inline Feedbacks
View all comments
  • Trending
  • Comments
  • Latest
A List of Banks Owned by the Rothschild Dynasty

A List of Banks Owned by the Rothschild Dynasty

19 February, 2013

The History of the ‘House of Rothschild’ (Complete)

24 January, 2013
Wikileaks Is A Rothschild Operation

Wikileaks Is A Rothschild Operation

22 December, 2012
Secrets Of The Elite: Why Forbes’s Rich List Doesn’t Include The Wealthiest Families On The Planet

Secrets Of The Elite: Why Forbes’s Rich List Doesn’t Include The Wealthiest Families On The Planet

19 September, 2015
The Act Of 1871 – America Incorporated

The Act Of 1871 – America Incorporated

22
Wikileaks Is A Rothschild Operation

Wikileaks Is A Rothschild Operation

6
The Rothschilds Purchased Jerusalem in 1829

The Rothschilds Purchased Jerusalem in 1829

5
Who Controls the Money Supply Controls the World

Who Controls the Money Supply Controls the World

4
David Straight: Awakening Seminar

David Straight: Awakening Seminar

20 August, 2022
The Man Who Knew Too Much (Documentary)

The Man Who Knew Too Much (Documentary)

14 November, 2021
The Puppet Masters Portfolios

The Puppet Masters Portfolios

5 August, 2021
Michael Tellinger: Hidden Origins of Humanity

Michael Tellinger: Hidden Origins of Humanity

29 July, 2021

Connect With Us

Most Read

  • A List of Banks Owned by the Rothschild Dynasty

    A List of Banks Owned by the Rothschild Dynasty

    7 shares
    Share 0 Tweet 0
  • The History of the ‘House of Rothschild’ (Complete)

    100 shares
    Share 0 Tweet 0
  • Wikileaks Is A Rothschild Operation

    4 shares
    Share 0 Tweet 0
  • Secrets Of The Elite: Why Forbes’s Rich List Doesn’t Include The Wealthiest Families On The Planet

    2 shares
    Share 0 Tweet 0
  • George Soros Exposed as a Rothschild Agent in the 1990’s

    2 shares
    Share 0 Tweet 0

Categories

Newsletter

Enter your email address to subscribe to our newsletter and receive notifications of new posts by email.

Join 12,351 other subscribers

Latest Posts

  • David Straight: Awakening Seminar
  • The Man Who Knew Too Much (Documentary)
  • The Puppet Masters Portfolios
  • Michael Tellinger: Hidden Origins of Humanity

Site Links

  • Donate
  • Resources
  • Sitemap
  • The Globalists

About Us

TGE news is here to bring you true documented facts on what’s really happening in the world that you will not see in the government controlled mainstream corporate media.

  • About
  • Contact
  • Privacy & Terms
  • Submit News

(OA) 2012-2023 TGE News

No Result
View All Result
  • Home
  • World
    • Business
    • Economy
    • Politics
    • Geo-Engineering
    • Environment
    • Police State
    • Foreign Policy
  • U.S.
    • Federal Reserve
  • Globalist Agenda
    • Secret Societies
    • World Order
    • The Globalists
  • Health
    • Big Pharma
    • Fluoride
    • Food
    • Gmo’s
    • Vaccines
  • Sci/Tech
    • Space
    • Trans-Humanism
  • Media
    • Documentaries
    • Interviews
    • Talks/Lectures
  • More+
    • Ancient Civilizations
    • Astrology
    • Astrotheology
    • Awareness
    • DIY
    • Esoteric
    • Free Energy
    • Hidden History
    • Infographics
    • Knowledge
    • Religion
    • Spirituality

(OA) 2012-2023 TGE News

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist

0
0
Would love your thoughts, please comment.x
()
x
| Reply