Native Village 
Youth and Education News

October 2012

Some Outrageous Facts about Inequality
Read the entire article: https://www.commondreams.org/
Condensed by Native Village

[Rich: Purple    Poor: Blue]

1. U.S. companies in total pay a smaller percentage of taxes than the lowest-income 20% of Americans.

Corporations paid a total tax of 11%
Total corporate profits for 2011 were $1,970,000,000,000.
This is how it was paid:
$181,000,000,000 in federal taxes (9%)
plus
$40,000,000,000 in state taxes (2%).

The poorest
20% of Americans pay 17.4% in federal, state, and local taxes.

 

2. The tech industry was built upon publically-funded research. Yet, the top 8 tech industry companies paid a combined 10.6% taxes in 2011.

The U.S. government used public funds for 50% of the basic technology and communications research through the mid-1980s
Federal grants now support almost
60% of university research.

IBM, Hewlett-Packard, Intel, Microsoft, Apple, Oracle and Cisco were built upon  these government and military innovations. 
Google relied on the Defense Department's ARPANET system and the National Science Foundation's Digital Library Initiative.

 

3. The sales tax on a $1,000,000,000,000,000,000 financial sale is ZERO!

In 2008, annual derivatives trades were $1,140,000,000,000,000,000.
The same year, the Chicago Mercantile Exchange had a trading volume of $1,200,000,000,000,000,000

$120,000,000,000,000,000,000 is the entire world economy. But it's not real money. Most is high-volume split-second computer trading, the kind that almost crashed our economy.

These trades have earned 0% sales tax.

 

4. Many Americans get just a penny on the dollar.

For every $1.00 of NON-HOME wealth owned by white families, people of color have only 1

For every $1.00 the richest .1% earned in 1980, they added $3.00.
The poorest
90% added just 1

For every $1.00 of financial securities in the U.S., the bottom 90% of Americans have 1.5 worth.

From 2008-2010, for every $1.00 of profits made by Boeing, DuPont, Wells Fargo, Verizon, General Electric, and Dow Chemicals, the American public got 1 in taxes.

 

5. Society allows one man or family to own enough money to feed EVERY hungry person on earth.

925,000,000 people don't' have enough food. About $30,000,000,000 per year is needed to eradicate world hunger.

Several individuals have more than this amount in personal wealth.

 

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