Action without study is fatal. Study without action is futile.
- Mary Beard, American Historical Writer (1876-1958)
If money is the root of all evil, then the tax code is the root of all evil in Congress. It is our tax code that allows politicians to bestow loopholes to their lobbyist supporters and corporate donors, and both sides end up corrupted in the process.
You hear a lot of talk about the 1% and the 99% today, if you ever wonder why the 1% have more power than the 99%, look no further than the ability of the 1% to lobby Congress and twist the tax code to their advantage.
As just one example, this culture of lobbyist influence and political corruption allowed a corporation like General Electic to make $14.2 billion in profits in 2010 without paying a single penny in taxes this year, getting a $3.2 billion tax benefit instead!!! Disgusting, isn’t it? *
So for all the people protesting Wall Street, ask yourselves, who should you really be directing your anger at, the corporations taking advantage of the loopholes made available to them, or the politicians and their lobbyist benefactors who actually MAKE those loopholes?
Our bloated tax code, an incomprehensible mess 71,684 pages long, is the cause for 6.1 BILLION hours of wasted productivity every year, hours wasted in the drudgery of tax preparation. Just imagine all the wonderful things that could be created if those 6.1 billion work hours were unleashed and channeled into something of worth.
End the tax code, end the evil.
NINE NINE NINE.
[mp3j autoplay=”y” track=”http://losalamoslabs.com/mc/__/money.mp3″]