Facts reported today:
#1. The Brookings Institute released a study on the rise of poverty. Analysis of preliminary figures from the 2010 census show that more than 46 million Americans -- some 15 percent of the population -- now live below the defined U. S. poverty line. This at a time of staggering gains by the upper income levels and the widening of the income gap in this country.
Neighborhoods that used to be solidly middle class in the 1990s have fallen into poverty. Areas of "extreme poverty," defined by at least 40% of the residents being poor, have increased by one-third in the past decade.
#2. Some 280 of the most profitable companies in the U. S. paid federal taxes from 2008 to 2010 at an average rate of only 18.5%, instead of the 35% listed corporate tax rate. This comes from a study by the Citizens for Tax Justice. Further, 78 of them paid no tax at all during at least one of those years.
It gets worse. Because of tax subsidies and loopholes, 30 of those corporations had a negative tax, despite combined pre-tax profits of $160 billion. Wells Fargo (the holder of my home mortgage) was the grand prize winner, taking in $18 billion in tax breaks over the last three years.
As a nation, do we think this is a bad thing? Well, some of us do. We're called Democrats. But Republicans accuse us of fanning the flames of "class warfare" by talking about it and wanting to revise the tax code so corporations and wealthy individuals pay a larger share of the tax burden.
What do Republicans propose doing? Congressional Republicans want to cut the corporate tax rate to 25% from the current 35%. Rick Perry proposes an even bigger gift to the fat cats: he says 20% -- and of course Herman Cain's 9-9-9 gives them even more, while shifting a larger share to the poor through sales taxes.
Given these facts alone, the 2012 election should be a landslide for Democrats. Why will it be even close? Because Republicans have mastered the art of selling snake oil to voters who like their misleading sound bites, who then vote against their own best interests.
As Drew Westen keeps telling them: Democrats try to appeal to peoples minds and their reason; Republicans know how to stir their emotions.
Ralph
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