Financing AWSC


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  Financing AWSC
 

 

It is easier and cheaper to make friends rather than enemies.

 Serving with Other nations service corps in the AWSC proposals.

 

 

Cost of warring versus AWSC investment comparables

Cost per military personnel of Iraq preemeptive invasion

Iraq death America ugly rates  How numbers count in winning the Terror War.

 

What do.. How fund... one page summary.

Non-traditional funding mechanisms in the AWSC proposals.

 

 

 

 

 

 

Revenues from donations by Forbes Richest 400

Forbes Richest documentation

Forbes 400 Richest 2007

Who Gives?  Forbes 400..

 

 

Revenues from Estate Tax

 

Revenues from Surtax on richest 1% of Americans

Cutting big checks... measure rich by what they contribute?

The Forbes 400
The Forbes One Billion .. those at the other end and what about doing something for them, which the AWSC proposes doing...
Jeffrey Sachs 10.08.07

Slate 60..analysis of 60 best givers

 

Non-tax paying corporations

High Income tax payer rates & distribution.

Estate tax or "un-American activities tax," the "Scrooge tax," or the "keeping America great by motivating your lazy-ass kids tax."

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Mercenaries cost... us

 

 

 

Import imbalance nations


     

This page contains details on financing the AWSC as well as some reasons for doing so with the programs outlined.  It also links to PLI's  proposed Fair Tax Bracket Reform legislation that will serve as a back-up revenue source to insure a robust AWSC.

Click  Non-traditional funding mechanisms to read the section of the AWSC proposals outlining some non-traditional funding mechanisms.

Click Serving with Other nations service corps  to read the section of the AWSC proposals that calls for serving with other nations service corps and inspiring other nations to create such.

Cost of the War in Iraq
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Our recent warring policies have spiraled us so deeply in debt that even investments that save us billions or trillions in the future must convince a significant percentage of Americans, who lack the vision to invest now to have a prosperous, less costly future, and smarter, worldly-experienced based public policy, to support a cost-effective AWSC.

By ramping up to one million AWSC volunteers over the seven year start-up, the AWSC is acting as a small, model program.  This also gives visionary leadership time to educate the Forbes 400 and non-tax paying corporations  on how they can voluntarily step up to help fund a program that will right the State of Our Union and World.

Investing in AWSC 

As deeply indebted nation, how do we pay for the investment in a robust American World Service Corps?

 This page gives you some of the funding answers that are called for in the proposed AWSC legislation.  These revenues streams fund the AWSC.  Revenues from these streams will be deposited into a locked account escrowed to funding the AWSC.

1.  Revenues from donations lobbied from Forbes Richest 400

Politicians continuously lobby America’s richest to finance their image making campaigns. In 2007 and 2008 the poorest person on this list was worth about 1.3 billion.  In 2008 their net worth was $1.57 trillion. Their average net worth is $3.9 billion.  

Should American citizens demand that their presidential candidates and other elected reps lobby America's Richest to annually "donate" under  2% of their untapped wealth to underwrite the total cost of fielding the AWSC for 27 years?

 Which of the presidential and congressional candidates would refuse to lobby the richest Americans to invest in America’s future by having them fund a million Americans a year building stability at home and abroad?  It is surprising to most that the Forbes 400 have set aside minuscule amounts for charity, like 0-10%.

Should you support those candidates who refuse to lobby the richest Americans to invest in the AWSC?

See link above for more details.

Accumulated 2007 This % for each year For 27 Total Forbes 
Wealth of Forbes 400 If wealthiest Covers AWSC years donations
Richest Americans donated costs of of AWSC funds AWSC for
$1,540,000,000,000 1% $15,400,000,000 27 $415,800,000,000
If donate this, AWSC totally paid 1.70% $26,180,000,000 $706,860,000,000 Pays for entire AWSC program
2% $30,800,000,000 $831,600,000,000
3% $46,200,000,000 $1,247,400,000,000
4% $61,600,000,000 $1,663,200,000,000
8% $123,200,000,000 $3,326,400,000,000

Forbes Richest Documentation

Some sources of information on the Forbes Richest.  A mere billionaire here is low on the totem poll.

In 1997 Ted Turner donated a Billion dollars to United nation causes, saying, 

"There are so many rich guys in the world, billionaires. The world is awash in money and nobody knows what to do with it. We don't want the money they know what to do with, just the money they don't know what to do with."  

Ten years later Gates and Buffett trumped that donation about 30 times over.  See how much more most of the other billionaires could do to make the world safer for their and others' children and grand children.

Who Gives   http://www.forbes.com/2004/09/23/cz_dw_0923philan_rl04.html  may now be blocked form viewing.

 

 

Forbes 400 Richest Wealth 1995-2012

 

Forbes and other sites offer such information.  You can try this site http://afgen.com/feudal2.html and others to to understand how much wealth the top 1% control.  They have the capacity to reward many Americans who volunteer to do good in the world.

2.  Revenues from Estate Tax

 When the world becomes more dangerous for our soldiers, it also become more costly and dangerous for the richest among us. 

 Even the rich cannot take their estates with them when they begin returning to dust, so why shouldn’t a minimal percentage return to previous estate rates be assigned to make the future safer and smarter by funding the AWSC.

This progressive Estate Passing Tax ranging from .5 TO 5% on estates ranging from $5 -20+million will raise at least 1.9 billion per year. This amounts to about $54 billion over a generation of fielding AWSC volunteers at home and abroad, or about 8% 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.

The "Gospel of Wealth" but echoes Christ's words.  It calls upon the millionaire to sell all that he hat and give it in the highest and best fort to the poor, by administering his  estate himself for the good of his fellows, before he is called upon to lie down and rest upon the bosom of Mother Earth.      

        The Gospel of Wealth" Essays and Other Writings, Andrew Carnegie

Hid Eminence Cardinal Manning says:--

Mr. Carnegie tells us plainly, first, that the accumulation of stagnant wealth to be bequeathed to heirs is a vain-glory in the giver, and may be a ruin to the receiver; secondly, that the bequeathing of wealth for charities when the man is gone out of life is an empty way of making a name for generosity;...  p.48.

Meanwhile , as the masses become more intelligent, they may be expected to criticise and denounce the growth of fortunes which fail to contribute largely to the public good and finally to insist that they shall be made to do so.    p.67.

3.  Revenues from Surtax on richest 1% of Americans

 The gap between Middle Americans and our richest continues widening at an increasingly rapid rate.  Socially conscious rich Americans, such as Gates and Buffet, have express opposition to having their tax contributions to society’s betterment lowered.

Only a very small share of tax filers have incomes high enough to be subject to the highest marginal income tax rates. IRS data show that in 1997, the latest year for which this information is available:

Only four percent of tax filers were in the 31 percent bracket or a higher bracket.
Less than one percent of filers were in the top bracket, where the marginal tax rate is 39.6 percent. The average adjusted gross income of filers in the 39.6 percent bracket exceeded $900,000 in 1997.  Source: http://www.cbpp.org/3-6-01tax2.htm 

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.

4.  Non-tax paying corporations

The AWSC will have a web site that lists what those non-tax paying corporations DONATE to underwrite the cost of the AWSC. 

 When millions of families have their family members and their friends serving in the AWSC, their growing understanding of economics will encourage non-tax paying corporations to invest in America through their non-tax deductible contributions to underwrite the cost of the AWSC.  

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..

 Links to some stats on non-tax paying corporations.  http://www.ctj.org/html/corp0302.htm #chart corporate welfare  

Corporations who paid no income taxes 2001-2003

http://www.ctj.org/  

Corporate income taxes in Bush years. http://www.ctj.org/corpfed04an.pdf

Ostensibly, the federal tax code requires corporations to pay 35 percent of their profits in

income 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.

 Import tax on those developed countries with whom we have huge trade imbalances, such as in 2005 Dept. of Commerce

Trading Partner            Trade imbalance

China                         -201.0 billion,

 OPEC            -92.7 billion

Japan                           -82.6 billion

Canada                           -76.5 billion

SOURCE: US DEPARTMENT OF COMMERCE, BUREAU OF ECONOMIC ANALYSIS; RICH CLABAUGH – STAFF

 

 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.

 Recent donations by Ted turner and intentions expressed by the Gates / Buffet Foundation(s) imply that such donations could and should be much larger than they have been and larger than most Americans imagine.

7.  Excess War Profits Tax

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.

 9. Tax Increase on Middle Americans

$0.00

The revenue funding approach outlined here relieves Middle Americans of any tax liability, yet it certainly makes the lives of Middle America safer and more prosperous.  Those who support this will be supporting cost effectively strengthening Middle America.

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.

Less than one-quarter of all tax filers were in tax brackets higher than the 15 percent bracket.