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Fri Apr 27, 2012, 06:37 AM

Corporations are people and Money is free speech...



This is what our Supreme Court has ruled.

If real people (not corporations) do not wake up and challenge these decisions, we are well on our way to losing our democracy and our nation to the monied interests. If working people are waiting on Money and Power to give them a fair shake, then they are under a dangerous illusion.

We can lose everything we have fought for in the last 100 years. We could lose the Social Security system. We could lose the public school system. We could lose the minimum wage. We could lose every union in the country. We could lose every safety net that has been established for the most vulnerable. We could lose everything.

If you think that could never happen, think again. What incentive would the Corporations and the Wealthy have to keep these programs and institutions if they are a drag on their bottom line. Will they do it because they are compassionate and caring people? Somehow, I don't think so?

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Reply Corporations are people and Money is free speech... (Original post)
kentuck Apr 2012 OP
B Calm Apr 2012 #1
mmonk Apr 2012 #2
Locrian Apr 2012 #3
leveymg Apr 2012 #4
pampango Apr 2012 #5

Response to kentuck (Original post)

Fri Apr 27, 2012, 06:44 AM

1. If money is free, then I want some!

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Response to kentuck (Original post)

Fri Apr 27, 2012, 07:28 AM

3. you are spot on

It's already happening: they are at war with us.

The police have become above the law
The rich are above the law
We have the war on drugs and the prison industry. They feed each other and we are the raw materials.
We have all the companies preying on us for profits.
It's becoming illegal to speak out, to protest, while at the same time more and more penalties for using 'corporate owned' intellectual property.
Gov is owned and a part of corporate America. There are no seats left for the people. Time and again laws are passed that go directly in favor of corporations AGAINST the desire of the people.


All for the bottom line: money. It's what you get in a society when it (money) is the ONLY thing that is 'valued'.

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Response to kentuck (Original post)

Fri Apr 27, 2012, 08:51 AM

4. Many of the largest corporations that buy elections aren't even majority US-owned.

Particularly the ones that have created the worst harm and mischief and outright ripoff of government in recent times -- BP, NewsCorp, Halliburton, Carlyle Group, BAE, AIG -- are foreign-controlled companies.

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Response to kentuck (Original post)

Fri Apr 27, 2012, 11:00 AM

5. What if ... no freedom of speech for corporations (they're not people), but no income tax on them

either (since they are not people).

In return for no corporate income tax we raise the marginal tax rate on the rich to 70% as it has been in the past and apply this rate to dividends and capital gains, as well. If a corporation pays no tax itself it can use the money saved to 1) pay more to its CEO and high ranking employees, 2) hire more workers/raise their wages, 3) pay a higher dividend or 4) invest the money back into the company to make it grow.

If they do #1 we get 70% of it right back in taxes (which may be disincentive to keep doing it).

If they do #2, great!

If they do #3, most dividends go to the wealthy so we get 70% of those back right away, too. Increased dividends that are paid to the middle class via IRA's, 401K's, mutual funds or stock ownership, are good news.

If they do #4 (research, product development, customer service, etc.) hopefully the company will grow in the long run and provide stable employment for more people. If their stock price rises as a result of wise internal investments, capital gains will result at some point and we'll get 70% of that back in taxes, too.

This would remove corporate "free speech" from campaign funding which should lessen the political influence of corporations. This, if it occurs, should make it easier to make the tax system more progressive. The 70% figure may need to be a little higher or lower (and perhaps adjusted for capital gains/dividends), but at some similar rate it would make the whole package revenue neutral (if that is the goal) and more progressive than it is now.

Just thinking out loud here (and anticipating the "no taxation without representation" response from the corporate and right wing types) if and when we succeed in banning corporate "free speech".

The goal should be to make the tax system more progressive. Whether we get increased taxes from the wealthy in the form of corporate taxes or personal income taxes does not matter much to me.

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