April 8, 2016

Colin Holtz in the Guardian does not mince words. Emphasis added:

Roads and transportation infrastructure. Educated workforces. Courts and legal systems. Innovations sparked by government funding, such as the internet. ..,[W]hile working and middle-class families pay their taxes or face consequences, the Panama Papers remind us that the worst of the 1% have, for years, essentially been stealing access to Americans’ common birthright, and to the benefits of our shared endeavors.

Worse, many of those same global elite have argued that we cannot afford to provide education, healthcare or a basic standard of living for all, much less eradicate poverty or dramatically enhance the social safety net....

Enough. We have the money to solve our problems. The first step is to stop the global elite from hoarding and hiding it. Cracking down on tax evasion alone will not fund all our priorities, but the Panama Papers do put the lie to the politics of austerity.

It is high time to replace and repeal Reaganomics. Tax cuts for billionaires does NOT generate revenue. Fair taxation for the rich is what they OWE to society for the security and benefits a modern economic structure provides.

If someone violates their patent, they sue in court. They need to pay for that court.

The roads and bridges that carry their product to market? Pay for it.

The public education that provides them with workers who can calculate their earned interest and program their manufacturing centers? Pay for it.

And don't get me started about the tax breaks many corporations extort from state and local governments to locate in their location.

Enough freeloading from the rich. Austerity is not the prescription. To fix the economy, we must first recognize that it's the tax havens, stupid.

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