Signing of Nation Defence Authorization Act, December 2, 2002, Duncan Hunter, John Warner, Commandant James Jones. Sgt. Major Alford McMichael, Master Chief Petty officer Terry Scott, Donald Rumsfeld, George Bush seated. (Reuters/Mike Theiler)


The Economic Garbage of Tax Cuts and Privatization

Nipawin - Wednesday - December 4, 2002 - by: Mario deSantis




The United States is the military only hyper power of the world and its hegemonic economic influence on other countries has had radical and detrimental effects. It is for this reason that I focus my attention on the policies of this administration.



tax cuts

In the last few decades, the push for globalization and privatization of the global economy has accelerated to a frenetic pace. Every country is peddling the economic philosophy of the Free Market and every country has been following the policies of further tax cuts and further privatization.




The natural question is this: do tax cuts produce bigger GDP numbers?


I am the first person to say that bigger GDP numbers have no proportional direct cause on our economic welfare, but taking for granted that bigger GDP numbers equate bigger wealth, I don't agree that tax cuts produce bigger wealth. Economists at the Center for Economic and Policy Research have shown the last two decades to be years of diminished progress, and as the United States is concerned, I want to provide the following economic statistics:
  • In 1965, U.S. corporate income taxes were 4.1% of GDP

  • In 2002, U.S. corporate taxes plummeted to only 1.5% of GDP

  • The financial wealth of the top 1 percent of U.S. households now exceeds the combined household financial wealth of the bottom 95 percent




Do some critical thinking in regard to the above statistics, and whenever we consider the experienced corruption of Corporate America I am asking if instead of cutting personal taxes we should increase corporate taxes?




It is a nightmare and it is a conspiracy, and we can't see it as we are economically competing against each other and have no time to think for ourselves. We have the latest news that the White House values politics over domestic policies, and this is not new news for me, as effective public policies are chronically shortchanged for the politics of immediately making money, that is, Bush's tax cuts and further privatization. But no wait, let us not forget the compassion of our rightist conservatives as they are hypocritically supporting tax increases for the poor as the Lucky Duckies‚ pay little or nothing in income taxes.

Mario deSantis

  Weisbrot, Mark , Dean Baker, Egor Kraev and Judy Chen The Scorecard on Globalization 1980-2000: Twenty Years of Diminished Progress, by July 11, 2001
  International Tax Comparisons, 1965-2001 (federal, state & local) Citizens for Tax Justice, 202-626-3780 November 5, 2002
  Molly Ivins: Enron: Think Bigger 3/1/2002
  Ivins, Molly, Republicans reward tax evasion, November 28, 2002
  Ex-Aide Insists White House Puts Politics Ahead of Policy (PDF) The New York Times, December 2, 2002
  The Corporate Corruption Administration
  Krugman, Paul, Hey, Lucky duckies!, (pdf) December 3, 2002, New York Times


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