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Levying a 3% tax on the top 1% of Americans (about 1,340,000 households) would raise about $369,198,810,000 in revenues to fund the investment in the AWSC. This amounts to about 52% of the total funds need to fund the estimated $700 billion investment in the AWSC to reduce poverty, needs, and the causes of expensive, bloody wars.
How
many Middle Americans are comfortable with large corporations paying
little or nothing in taxes, while Middle Americans contribute patriotism
as well as their taxes..
Corporations who paid no income taxes 2001-2003
Corporate income taxes in Bush years. http://www.ctj.org/corpfed04an.pdf
O
stensibly, the federal tax code requires corporations to pay 35 percent of their profits inincome taxes. But only a small proportion of the 275 corporations in our study paid federal
income taxes anywhere near that statutory 35 percent tax rate. Instead, the vast majority
paid considerably less. In fact, in 2002 and 2003, the average effective tax rate for all 275
companies was less than half the statutory 35 percent rate. Over the 2001-2003 period, effective
tax rates ranged from a low of –59.6 percent for Pepco Holdings to a high of 34.5 percent for CVS.
The average effective rate for all 275 companies dropped by a fifth, from 21.4 percent in 2001 to
17.2 percent in 2002-2003.
Here are some startling statistics
82 COMPANIES PAYING ZERO OR LESS IN TAXES
IN ONE OR MORE YEARS, 2001-2003 ($-million)
In the no-tax years
Profits Rebates Rate
2003 (46 cos.) $ 42,622 $ –5,438 –12.8%
2002 (43 cos.)
43,530 –4,945 –11.4%2001 (33 cos.)
15,664 –2,184 –13.9%101,816 $ –12,568 –12.3%
5. Import Levy on developed nations with significant trade imbalances
There
are about 200 nations in the world. In
2006, we ran trade deficits with about 100 of them.
The AWSC bill calls for Congress to define and impose a “nominal
import levy” on those “developed nations” with which we run a
“significant trade deficit.”
At the minimum, this levy is intended to raise $5,000.000,000 per year, although Congress may decide to increase this in order to cover AWSC investment needs.
Twenty-seven years x $5 billion = $135 billion toward covering the investment in AWSC benefits. This amounts to about 19% of the total AWSC investment needed.
Trading Partner
Trade imbalance
OPEC -92.7 billion
SOURCE:
Link to stats on trade deficit nations.
6. Corporate Foundation Donations
For
a variety of reasons, corporate foundations and philanthropic foundations will
fund the domestic and international programs of the AWSC.
Much of that funding may go to the non-governmental organizations
(NGOs) working under the AWSC umbrella, but some may also come to fund the
AWSC umbrella.
Senator
Judiciary Chairman Leahy and others are working on means to levy a tax on
those corporations who have reaped excessive profits from war.
Links
http://leahy.senate.gov/press/200701/010407b.html
8. Individuals and corporate tax credits for amounts dedicated to underwriting AWSC.
$0.00
The
revenue funding approach outlined here relieves Middle Americans of any tax
liability, yet it certainly makes the lives of
Ask all the presidential candidates where they stand on the AWSC proposals and where they stand on the revenue streams we propose to fund fielding a million American volunteers for 27 years to learn and grow from doing good at home or abroad.
9. PLI's AWSC Congressional Proposals proposes other nations replicate funding mechanisms outlined here.
For the first time ever, the number of billionaires Forbes could identify crossed into four figures, reaching 1,125. The total net worth of the group is $4.4 trillion, up $900 billion from last year. Despite the turbulence in the U.S. markets, Americans account for 42% of the world's billionaires and 37%, of the total wealth; those shares are down two and three percentage points, respectively, from last year. http://www.forbes.com/2008/03/05/richest-billionaires-people-billionaires08-cx_lk_0305intro.html
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| Some sources: |
|
America's Richest: Charity and the Forbes 400, David Whelan 9-24-04
|
| http://www.forbes.com/2004/09/23/cz_dw_0923philan_rl04.html |
| http://www.forbes.com/2004/09/23/cz_dw_0923philan_rl04_print.html |
| Conservative 1.25 trillion figure source |
| http://www.wsws.org/articles/2006/oct2006/forb-o16.shtml |
| Forbes graphs of 1.25 - 1.4 trillion |
| http://oregonstate.edu/instruction/anth484/forbes.html |
| David Whelan, 09.24.04, 7:00 AM ET Top Earning Celebrities http://www.aboutxinjiang.com/Service/content/2007-09/29/content_2209579.htm
Top fifty earning athletes. : http://sportsillustrated.cnn.com/more/specials/fortunate50/2007/ In 2007 Tiger Woods toped the list at 112,000,000 with earnings adn endorsements. Amaré Stoudemire was 50th at $15,000,000. The total earnings of this group topped $1 billion. Each 1% donated would provide $10,000,000 to underwrite the AWSC investment and makes real world games less bloody. |
