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Tax avoidance may be legal but it’s bankrupting our social order | Owen Jones

Tax avoiders rely on legal loopholes, at the expense of a state they refuse to contribute to, says the Guardian columnist Owen Jones

In the coming days, you will hear this response from the defenders of our rotten status quo. “What the Paradise Papers has exposed is legal, so what is the problem?” They have an agenda, of course. They want to demonise the very concept of taxation because they want to roll back the state and construct a free-market “utopia” which, in practical terms, would be dystopian for the vast majority.

Owen Jones highlights what the Paradise Papers reveal in how elites are refusing to help the populace and how the loopholes are hurting society. As Jones goes on to note on Britain:

The state is punitive when it comes to, say, benefitfraudsters or thousands of young people criminalised for arbitrarily banned drugs, but uses kid gloves when it comes to our shameless uber-wealthy elite. The colossally destructive behaviour of the rich is permitted; the infractions of the poor are deemed intolerable.

As Owen Jones illuminates current society has been set as following:

One rule for those at the top, another for everyone else. 

In this age of austerity, in which public services are being axed, the Pararise Papers highlights a greater ill in the practice of austerity as tax avoidance is set as such. As Owen Jones end his article:

A democratic revolution is surely coming in the western world, and this shameless, decadent elite only have themselves to blame.

Published on #FITSO Motivation

http://goo.gl/EB8p5

“Give me five minutes to explain taxes to you: The top marginal tax rate is currently 39.6 percent, which remember, is an altogether different thing from the effective tax rate that wealthy people end up actually paying after taking advantage of various tax loopholes. What does that even mean - a ‘marginal tax’ rate of 39.6 percent? Does it mean the average person pays 39.6% in taxes? No. Does it mean that the income earners in the top one percent pays 39.6% in taxes? NO! Here’s what a marginal tax rate of 39.6% means: First, as of 2013 the top tax rate for individuals currently doesn’t begin unless you earn $406,750 dollars. Actually, that tax rate doesn’t even take effect until you make $406,750 + $1 dollar. Got that part? That’s important. Here’s the tricky detail that most people miss: the 39.6% tax rate is only applicable on anything OVER $406,750 dollars. So if you made $406,752 dollars, then only two ($2) of those dollars will be taxed at the highest rate of 39.6%…and the other $406,750 is not. Of course, this does not take into account the numerous tax loopholes that I alluded to earlier. Thus, if the top marginal tax rate is 39.6 percent, then after using any number of tax loopholes, write offs and various other cheats, it’s entirely possible earn over $406,750 dollars per year and still pay even less in taxes than a working class American earning much less. SN: this applies only to people who do actual work for a paycheck. If, on the other hand, your primary income is from inheritance or stock investments and you pay all your bills off of that interest (aka “capital gains”), then your taxes work differently altogether (hint: they’re even lower). Take multi-billionaire Mitt Romney, for example. In 2010 he only paid an effective (real) tax rate of 13.9 percent, odds are that’s much lower than the tax rate you (or your parents) just paid. Here’s the last thing you should remember: Only one percent of Americans make $400,750 a year or higher. Stated differently, the top income tax rate effects around 3.5 million —out of 350,000,000 Americans. And that’s only on the dollars ABOVE $400,750. BOO HOO right? Approximately 3.5 million Americans might, maybe, perhaps *possibly* have to pay the top federal income tax rate…but only on anything above $406,750 dollars…and only if they refuse to take advantage of ridiculously huge tax loopholes so big you could fly a jumbo jet through them. THAT is what conservatives are crying about when they complain about the top tax rate. That’s it.”

— This is why whining about the top tax rate is a joke and Republicans are the party for the Greedy One Percent (and the deluded suckers “future millionaires“ who repeatedly vote for them)

Nikola Tesla explains the development and use of his “Magnifying Transmitter,“ and also how it differs from today’s radio and wireless technology.

“The idea was to put the coil, with reference to the primary, in an inductive connection which was not close—we call it now a loose coupling—but free to permit a great resonant rise. That was the first single step, as I say, toward the evolution of an invention which I have called my “Magnifying Transmitter.” That means, a circuit connected to ground and to the antenna, of a tremendous electromagnetic momentum and small damping factor, with all the conditions so determined that an immense accumulation of electrical energy can take place…

“I mean that you have to have in the circuit, inertia. You have to have a large self-inductance in order that you may accomplish two things: First, a comparatively low frequency, which will reduce the radiation of the electromagnetic waves to a comparatively small value, and second, a great resonant effect. That is not possible in an antenna, for instance, of large capacity and small self-inductance. A large capacity and small self-inductance is the poorest kind of circuit which can be constructed; it gives a very small resonant effect. That was the reason why in my experiments in Colorado the energies were 1,000 times greater than in the present antennae.

“To be more explicit, I take a very large self-inductance and a comparatively small capacity, which I have constructed in a certain way so that the electricity cannot leak out. I thus obtain a low frequency; but, as you know, the electromagnetic radiation is proportionate to the square root of the capacity divided by the self-induction. I do not permit the energy to go out; I accumulate in that circuit a tremendous energy. When the high potential is attained, if I want to give off electromagnetic waves, I do so, but I prefer to reduce those waves in quantity and pass a current into the earth, because electromagnetic wave energy is not recoverable while the earth current is entirely recoverable, being the energy stored in an elastic system. I mean this: If you pass a current into a circuit with large self-induction, and no radiation takes place, and you have a low resistance, there is no possibility of this energy getting out into space; therefore, the impressed impulses accumulate.

“From my circuit you can get either electromagnetic waves, 90 percent of electromagnetic waves if you like, and 10 percent in the current energy that passes through the earth. Or, you can reverse the process and get 10 percent of the energy in electromagnetic waves and 90 percent in energy of the current that passes through the earth.

“It is just like this: I have invented a knife. The knife can cut with the sharp edge. I tell the man who applies my invention, you must cut with the sharp edge. I know perfectly well you can cut butter with the blunt edge, but my knife is not intended for this. You must not make the antenna give off 90 percent in electromagnetic and 10 percent in current waves, because the electromagnetic waves are lost by the time you are a few arcs around the planet, while the current travels to the uttermost distance of the globe and can be recovered.

“This view, by the way, is now confirmed.  Note, for instance, the mathematical treatise of Sommerfeld, who shows that my theory is correct, that I was right in my explanations of the phenomena, and that the profession was completely misled. This is the reason why these followers of mine in high frequency currents have made a mistake. They wanted to make high frequency alternators of 200,000 cycles with the idea that they would produce electromagnetic waves, 90 percent in electromagnetic waves and the rest in current energy. I only used low alternations, and I produced 90 percent in current energy and only 10 percent in electromagnetic waves, which are wasted, and that is why I got my results.

“You see, the apparatus which I have devised was an apparatus enabling one to produce tremendous differences of potential and currents in an antenna circuit. These requirements must be fulfilled, whether you transmit by currents of conduction, or whether you transmit by electromagnetic waves. You want high potential currents, you want a great amount of vibratory energy; but you can graduate this vibratory energy. By proper design and choice of wave lengths, you can arrange it so that you get, for instance, 5 percent in these electromagnetic waves and 95 percent in the current that goes through the earth. That is what I am doing. Or you can get, as these radio men, 95 percent in the energy of electromagnetic waves and only 5 percent in the energy of the current. The apparatus is suitable for one or the other method. I am not producing radiation with my system; I am suppressing electromagnetic waves. In my system, you should free yourself of the idea that there is radiation, that the energy is radiated. It is not radiated; it is conserved.”

–Nikola Tesla

“Nikola Tesla On His Works With Alternating Currents and Their Application to Wireless Telegraphy, and Transmission of Power.” Twenty First Century Books, Breckenridge, Colorado, 2002.