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2. Only FOUR OUT OF 150 countries have more wealth inequality than us.
In a world listing compiled by a reputable research team (which nevertheless prompted double-checking), the U.S. has greater wealth inequality than every measured country in the world except for Namibia, Zimbabwe, Denmark, and Switzerland.
6. Tax deductions for the rich could pay off 100 PERCENT of the deficit. Another stat that required a double-check. Based on research by the Tax Policy Center, tax deferrals and deductions and other forms of tax expenditures (tax subsidies from special deductions, exemptions, exclusions, credits, capital gains, and loopholes), which largely benefit the rich, are worth about 7.4% of the GDP, or about $1.1 trillion. Other sources have estimated that about two-thirds of the annual $850 billion in tax expenditures goes to the top quintile of taxpayers.
10. The American public paid about FOUR TRILLION DOLLARS to bail out the banks. Bonus for the super-rich: A QUADRILLION DOLLARS in securities trading nets ZERO sales tax revenue for the U.S.... A quadrillion dollars. A sales tax of ONE-TENTH OF A PENNY on a quadrillion dollars could pay off the deficit. But the total sales tax was ZERO.
Originally posted by Mads1987
reply to post by Sink the Bismarck!
Some of the information in the top 10 list is completely inaccurat.
2. Only FOUR OUT OF 150 countries have more wealth inequality than us.
In a world listing compiled by a reputable research team (which nevertheless prompted double-checking), the U.S. has greater wealth inequality than every measured country in the world except for Namibia, Zimbabwe, Denmark, and Switzerland.
I noticed it, because I live in Denmark, and found the above information very unlikely. So I looked it up. None of these countries are among the 5 most unequal countries. Zimbabwe is close, but something like 10 from the bottom. It depends on what list you look at, and how you look at them, like before and after taxes.
Anyway, Denmark is usually among the least unequal countries in the world. The Scandinavian model of democratic socialism has proven to be a great 'tool' to combat inequality over and over again.
Originally posted by SpookyFoxMulder
I'm not surprised at the lack of sources on that one. Alternet is a site with a very clear agenda and I believe they'll say anything in furtherance of that agenda.
Originally posted by Sink the Bismarck!
Originally posted by SpookyFoxMulder
I'm not surprised at the lack of sources on that one. Alternet is a site with a very clear agenda and I believe they'll say anything in furtherance of that agenda.
Marketwatch, Tax Justice Network, Tax Policy Center, and so on = not sources?
I figured most ATSers would brush this off when they saw it coming from Alternet, which is why I put that in the title. Figured I'd spare them the pain of reading through it. God forbid ATSers come face to face with the ugly reality about tax avoidance perpetrated by the ultra wealthy.
Meanwhile, the US deficit continues to grow...edit on 26/11/12 by Sink the Bismarck! because: (no reason given)
Originally posted by SpookyFoxMulder
Originally posted by Sink the Bismarck!
Originally posted by SpookyFoxMulder
I'm not surprised at the lack of sources on that one. Alternet is a site with a very clear agenda and I believe they'll say anything in furtherance of that agenda.
Marketwatch, Tax Justice Network, Tax Policy Center, and so on = not sources?
I figured most ATSers would brush this off when they saw it coming from Alternet, which is why I put that in the title. Figured I'd spare them the pain of reading through it. God forbid ATSers come face to face with the ugly reality about tax avoidance perpetrated by the ultra wealthy.
Meanwhile, the US deficit continues to grow...edit on 26/11/12 by Sink the Bismarck! because: (no reason given)
If you'll notice, I was clearly referring to point #2 which does not have a source.
Originally posted by SpookyFoxMulder
Does it bother you at all that Alternet is advocating for a position that claims to be supported by facts but fails to mention the source? IMO, this is a huge red flag for ANY website.
Originally posted by Sink the Bismarck!
Originally posted by SpookyFoxMulder
Does it bother you at all that Alternet is advocating for a position that claims to be supported by facts but fails to mention the source? IMO, this is a huge red flag for ANY website.
Well, feel free to read my previous post and you'll see that they do have a source. Failing to name the source != not having a source.
Any thoughts on any other part of the list?
Originally posted by SpookyFoxMulder
Originally posted by Sink the Bismarck!
Originally posted by SpookyFoxMulder
Does it bother you at all that Alternet is advocating for a position that claims to be supported by facts but fails to mention the source? IMO, this is a huge red flag for ANY website.
Well, feel free to read my previous post and you'll see that they do have a source. Failing to name the source != not having a source.
Any thoughts on any other part of the list?
I do not have the same blind faith in my media outlets; if they claim to have a source but do not provide it, I don't assume they're telling the truth.
Anyway, this list is a bit fishy. Take number six for example. "Based on research by the Tax Policy Center, tax deferrals and deductions and other forms of tax expenditures (tax subsidies from special deductions, exemptions, exclusions, credits, capital gains, and loopholes), which largely benefit the rich, are worth about 7.4% of the GDP, or about $1.1 trillion."
Okay, which deductions, exemptions, credits, etc? Who knows? They certainly don't provide any follow-up information. It's not a useful article because it doesn't provide the hard facts that people need to make logical decisions.
IMO, this is more of an emotional advocacy piece. It's designed to fire people up, but when it comes to actual information, it's sorely lacking.