The United States is the military only hyper power of the world and
its hegemonic economic influence on other countries has had radical
and detrimental effects. It is for this reason that I focus my
attention on the policies of this administration.In the last few
decades, the push for globalization and privatization of the global
economy has accelerated to a frenetic pace. Every country is
peddling the economic philosophy of the Free Market and every
country has been following the policies of further tax cuts and
further privatization.
The natural question is this: do tax cuts produce bigger GDP
numbers?
I
am the first person to say that bigger GDP numbers have no
proportional direct cause on our economic welfare, but taking for
granted that bigger GDP numbers equate bigger wealth, I don't agree
that tax cuts produce bigger wealth. Economists at the Center for
Economic and Policy Research have shown the last two decades to be
years of diminished progress, and as the United States is concerned,
I want to provide the following economic statistics: In 1965, U.S.
corporate income taxes were 4.1% of GDP
In 2002, U.S. corporate taxes plummeted to only 1.5% of GDP
The financial wealth of the top 1 percent of U.S. households now
exceeds the combined household financial wealth of the bottom 95
percent.
Do some critical thinking in regard to the above statistics, and
whenever we consider the experienced corruption of Corporate America
I am asking if instead of cutting personal taxes we should increase
corporate taxes?
It is a nightmare and it is a conspiracy, and we can't see it as
we are economically competing against each other and have no time to
think for ourselves. We have the latest news that the White House
values politics over domestic policies, and this is not new news for
me, as effective public policies are chronically shortchanged for
the politics of immediately making money, that is, Bush's tax cuts
and further privatization. But no wait, let us not forget the
compassion of our rightist conservatives as they are hypocritically
supporting tax increases for the poor as the Lucky Duckies‚ pay
little or nothing in income taxes.
References
Weisbrot, Mark , Dean Baker, Egor Kraev and Judy Chen The
Scorecard on Globalization 1980-2000: Twenty Years of Diminished
Progress, by July 11, 2001 http://www.cepr.net/globalization/scorecard_on_globalization.htm
International Tax Comparisons, 1965-2001 (federal, state & local)
Citizens for Tax Justice, 202-626-3780 November 5, 2002 http://www.ctj.org/html/oecdtax.htm
Molly Ivins: Enron: Think Bigger 3/1/2002 http://www.texasobserver.org/showArticle.asp?ArticleID=575
Ivins, Molly, Republicans reward tax evasion, November 28, 2002
http://www.thehollandsentinel.net/stories/112802/opi_112802019.shtml
Ex-Aide Insists White House Puts Politics Ahead of Policy (PDF)
The New York Times, December 2, 2002 http://www.nytimes.com/2002/12/02/politics/02BUSH.html
http://www.ftlcomm.com:16080/ensign/ensign2/pdfarchive/NYtimeswhitehousepolicy.pdf
The Corporate Corruption Administration http://www.thedubyareport.com/enron.html
Krugman, Paul, Hey, Lucky duckies!, (pdf) December 3, 2002, New
York Times http://www.ftlcomm.com:16080/ensign/ensign2/pdfarchive/NYTimes_LuckyDuckies.pdf |