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Archive for September 2011

End poverty. Attack it. Now.

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You know someone who lives in poverty. You may not realize it, but you do. Given that one of every six Americans lives in poverty, someone you know suffers from one of the most punishing and oppressing of all human conditions.

Too many of us blithely consider poverty to be limited to certain geographical locations such as the “inner city.” Too many of us believe poverty is limited to, perhaps, mostly a certain skin color. Too many of us attribute poverty to the lack of an “appropriate” work ethic, a lack of ambition, or a desire to “cheat the system.” The poor live in cities, they’re not white, they’re lazy, and they’re sucking up my tax dollars unfairly.

Discard that attitude. It’s disgusting. Poverty privileges no race, no gender, no occupation, no geography.
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Written by Dr. Denny Wilkins

September 15, 2011 at 12:12 pm

Posted in Uncategorized

Kerry grandstands; The Boston Globe cheerleads

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Sen. John Kerry’s decision to not meet with “a whole bunch of lobbyists right now” and not fundraise while serving on Congress’ deficit-reduction “supercommittee” fails to impress. And the story by his hometown cheerleader, The Boston Globe,” equally fails to impress.

The Massachusetts Democrat may have scored a few points with voters. But his decision is really only inexpensive grandstanding. He said in August he’ll seek a sixth term in 2014. And he’s a shoo-in to win. He won his fifth term in 2008 with 66 percent of the vote and faced a primary opponent for only the first time in decades.

And who would want to face a sitting senator who has, thanks to his leadership PAC and campaign committee, $3 million in the bank and zero debt? And whose personal wealth, tops in the U.S. Senate, hit nearly $190 million entering 2010?
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Written by Dr. Denny Wilkins

September 14, 2011 at 11:18 am

Posted in Uncategorized

The tax break that didn’t create jobs, and now corporations want another one

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Imagine corporations telling you they want to create American jobs in exchange for a tax break. Thanks to a compliant Congress, they get a cheap rate on billions of dollars of profits — and cut thousands of American jobs instead. (Pfizer and Hewlett-Packard come to mind.)

After the turn of the century, hundreds of multinationals, such as Pfizer and H-P, nominally headquartered in the United States had a problem. They had about $300 billion in profits parked overseas. They wanted to bring that money home — a process artfully called repatriation of funds.

Their opponent was the U.S. tax code: To repatriate profits, the code said they’d have to pay 35 cents on every dollar brought home. So they sweet-talked (that’s called lobbying) their friends in Congress (their hired elected minions) to fix the problem. Their congressional chums were glad to help out by lowering the tax bite to 5 cents for every dollar brought home. The lobbying effort was a good investment: For every buck the corporations spent, they got $220 back.

But the fix created an image problem for members of Congress. If they handed out a 5 percent tax rate on hundreds of billions of dollars, their constituents would label them corporate teat-sucking, barking gongbats. After all, the folks who voted these congressional miscreants into office paid up to five times that rate in income tax in 2010. In the past tax year, if your income was about a mere $8,500, you paid 15 percent in income tax. If you made about $35,000, you paid a 25 percent rate. So you see the political image problem your members of Congress faced.
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Written by Dr. Denny Wilkins

September 1, 2011 at 12:23 pm

Posted in Uncategorized