Monday, April 19, 2010

The Financial Terrorists Who Destroyed Our Economy Will Pay ZERO in Income Taxes - And Get $33 BILLION in Refunds

Nice, eh? While you and I work our asses off, paying income tax up the wazoo, the Wall Street grifters are continuing to get huge tax breaks hand over fist.
The following investigative report is a great follow-up to yesterday's posting. Will some of you generous progressives out there please pass this along to the tea-bagger of your choice? Maybe we can play a modest role in providing some badly needed reality orientation for these lost souls...

From Alternet:

Journalist David DeGraw has put together a devastating report detailing how Wall Street continues to pillage the economy with the government's help. "The staggering level of theft continues unabated," writes DeGraw. "Our future is going up in flames and our government isn’t even making the slightest effort to put out the fire. In fact, they are purposely pouring gasoline all over it." DeGraw's investigation is a follow up to his previous report The Economic Elite Vs. The People of the United States of America -- check that one out to get caught up. AlterNet will run in a series of articles based on DeGraw's investigation.

Part One:
The first thing people need to understand is that the economic crash wasn’t a crash for the people who caused it. In fact, these financial terrorists are now doing better than ever. In a recent report, titled “Social Inequality in America: Widening Income Disparities,” more evidence of the unprecedented transfer of wealth was revealed:

“As of late 2009, the number of billionaires soared from 793 to 1,011, and their total fortunes from $2.4 trillion to $3.6 trillion…. Despite the crisis, the list of billionaires has grown by 218 people and their aggregate capital has expanded by 50%. This may seem paradoxical, but only at first glance. This result was predictable, if we recall how governments all over the world have dealt with the economic crisis.”

Read the rest here.

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