Post #2 Inequality in America today.

Statitics shows the amount of disparity that lies between the poor, middle class, and the wealthy. There’s also a one percent that has the majority of the wealth compared to the wealthy class. I watched a documentary on the corporate companies in America, the government allows these corporate companies to skip out of paying  their fair share of taxes. This leaves the consumers to shoulder the brunt of a recession. Because of the recession it gets that much tougher to live here, trying to make ends meet makes it really tough on those whom live paycheck to paycheck while the one percent get richer.

As dicussed in class, many rules are now being enforced on citizens causing more money to come out of their pockets and land in the hands of the government. The corporate companies could help this country by actually paying their taxes. There are now 50 countries designated as off shore tax haven. A tax haven is a place whether a country or a state where taxes are levied or at a low rate. These corporate companies like Verizon, Google, Exxon mobil, Bank of America etc. pay a very small amount of taxes or non at all compared to the average citizen. The comparison is salary based.

I don’t believe that these companies should hand out their wealth to the poor, or to anyone, but if they have to pay their fair share of taxes just as Americans. The Government is certain to blame for this because they also have a say in this but decides on stashing it under the carpet.

This country would be better of if everyone actually followed the law, and the government would re-evaluate their spending.

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3 responses to “Post #2 Inequality in America today.

  1. As much as we want to think that the country is democratic…it’s not. As long as the wealthy keep stashing their money, the poor are going to suffer. And it is pretty much clear that they don’t have the intention to stop. And there is nothing we can do… and there is nothing the government can do. Because the government depends on the funds and the donations from these very people.

  2. I believe what you have said to be extremely true and fundamental to how our country is set up. While we claim to be a democratic nation, founded by the people, for the people, our country still leaves a lot to be desired. I’d like to bring up an I portent point that I stumbled across in an article the other day. I’m not sure if your aware of Warren Buffett, one of the richest individuals in America, owner of his company Berkshire Hathaway, and one of America’s greatest tax dodgers of all time. As you stated, the government allows for certain individuals who own these large corporations to skip out on paying their fair share of taxes, and our man Warren Buffett is included. You might even contrast that its ironic that even Buffett himself says that American taxes should be higher, to solve the fiscal debt. The article states that, “The first order of buisness of Presdient Obama and Mr. Buffett is not to reform entitlements or rein in spending but to raise tax rates- You might as well try bailing out the Pacific Ocean with a teaspoon!”

    Here’s the article in case your interested;
    http://www.investmentu.com/2012/November/warren-buffett-tax-dodger.html

  3. Thanks for the article D! Warren Buffet was actually featured on the expose that I was referring to. Many people that know how to play the system will. Why pay back taxes when the hard working citizens have to? Only if everyone obliged by the law and actually paid their taxes we wouldn’t be in such a big deficit, (this also includes the richest people in America).

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