Saturday, October 19, 2024

Sign the petition: Why are billionaires getting Social Security tax breaks?

 

TELL CONGRESS: Bernie Sanders is fighting to get rid of the tax loophole that lowers Social Security taxes for Elon Musk and Jeff Bezos. It’s time to end this unfair, outrageous loophole and expand benefits. Sign the petition: End tax breaks for the ultra-wealthy and expand Social Security!


Senator Bernie Sanders knows that it’s critical to continue the fight to protect Social Security from GOP cuts AND expand Social Security by taxing billionaires like Elon Musk.

Sen. Sanders said, “For almost 90 years, Social Security has, in good times and bad, succeeded in keeping millions of senior citizens out of extreme poverty. We must protect it at all costs.”1

It’s unacceptable that millionaires and billionaires pay less of a percentage of their income in Social Security taxes than teachers, janitors, and every other working class American. It’s time to end this unfair, outrageous tax loophole for the rich and strengthen one of America’s most important social safety net programs.

Sign the petition: PROTECT Social Security from Republican cuts and EXPAND benefits by taxing millionaires and billionaires.

Teachers, nurses, and customer service workers all pay a greater percentage of their incomes in Social Security taxes than Elon Musk and Jeff Bezos. It’s one of the most egregious tax breaks in the broken American tax code. And it’s not sustainable.

The Social Security Board released a report this year concluding that Social Security will have a funding shortfall without tax increases on the rich.2 This is a crisis for one of the most important social safety net programs in America.

Big corporate CEOs only pay Social Security taxes at the very beginning of the year — then, their massive salaries roll into their bank accounts without paying into the program. This is not how our tax system should work. And it’s not how a democracy should function.

Sign the petition: Make Elon Musk and Jeff Bezos pay more Social Security taxes than working class Americans. Protect and expand Social Security!

Thanks for taking action,

Joey and the team at Demand Progress

Sources:

  1. Senator Bernie Sanders on Twitter, “For almost 90 years, Social Security has, in good times and bad, succeeded...” October 13, 2024.
  2. Common Dreams, “Calls to 'Scrap the Cap' Grow as Millionaires Stop Paying Into Social Security for the Year,” February 28, 2023.

 


PAID FOR BY DEMAND PROGRESS (DemandProgress.org) and not authorized by any candidate or candidate's committee

Informed Comment daily updates (10/19/2024)

 


The Great Babylon: American’s complicity in Gaza Atrocities

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About the Author

Global Voices is an international community of writers, bloggers and digital activists that aim to translate and report on what is being said in citizen media worldwide. A non-profit, it is incorporated in Amsterdam, the Netherlands.


INFORMED COMMENT

The Great Babylon: America’s complicity in Gaza Atrocities

 


The Great Babylon: America’s complicity in Gaza Atrocities

Orono, Maine (Special to Informed Comment; Feature) – Yesterday, I interviewed a refugee Ukrainian family in transition from their homeland looking for a permanent place to settle. They were being visited by evangelical church friends. Since I was teaching a course on current world conflicts, the conversation turned to Palestine/Israel where a number of references were made to Babylon and Jeremiah. 

After leaving them,  I researched Babylon and evangelical beliefs and read the familiar story of captives taken from Jerusalem and forced to reside in Babylon in 567 BC. A generation later Cyrus conquered the city and allowed the captives to return. The passage referenced by the Evangelicals was: Tell this news to the nations!/Wave a flag to make sure that people listen!/Do not try to hide anything/ …the people of Israel and Judah will return to their land/They will weep because of their sins… / Babylon has been like a gold cup of wine in the Lord’s hand/The nations of the world had to drink that wine/It made everyone become drunk/and so they all became crazy/But now Babylon will quickly fall/An enemy will destroy it/so weep for it!/Find some medicine that will make its wounds better/Perhaps it will become well again/Wave a flag and prepare to attack Babylon’s city walls!/ Bring plenty of guards to watch all around the city/Put soldiers to catch anyone who tries to escape/Yes, the Lord will now do everything that he has decided/He will punish Babylon’s people, as he said he would do/you people of Babylon, who live beside many rivers/it is now time for you to die…..”.(Jeremiah 50:1-51)

From their point of view, evangelists view all forms of “wickedness and evil” in the world as symbolized by “Babylon”. To some, America is a modern version of Babylon. But how is it that Babylon became associated with confusion, yet was known in classical times as being accepting of many languages and customs? 

Babylonian references are widespread among the 24% of American adults who consider themselves evangelical.  The negative references are not related to Hammurabi of Babylon who provided a “code of laws”, nor to Cyrus, who conquered Babylon and allowed the Jewish captives to return to Jerusalem; His story was chronicled by Xenophon in the Cyropaedia. “Cyrus was a Persian, a leader in the Achaemenid Empire who defeated the Neo-Babylonian Empire in 539 BC. Aramaic became the official language of the Persian empire, and its official religion was Zoroastrianism. Cyrus’s enlightened policy put an end to the Assyro-Babylonian practice of deporting conquered peoples and trying to destroy all local nationalisms.”

According to the Israeli historian Shlomo Sand, much of the Bible was composed in Jerusalem in the 5th century BC, following  the return from the “Babylonian captivity”. Those who composed the Books of the Bible amplified ancient battles in order to magnify the power of their monotheistic God. Relatively small battles became exaggerated into massacres for the purpose of impressing the listener or reader to the power wielded by Yahweh. 

“ The  book of Revelation describes Babylon the Great as the dominant superpower in the world of the end times—so dominant, that it actually shapes the culture and economy of the world as it exists at the start of the tribulation period. The nature and scope of Babylon the Great’s dominance is such that only one such entity could ever exist in the history of the world, and there is no doubt that the United States of America is this entity.  (Rev 17:618:202419:2). by Steven Anderson in Bible prophecy


“Babylon,” Digital, Dream / Dreamland 3

After having a discussion with my class concerning Babylon, I introduced them to Plato’s Cave, a story associated with classical Greece in the 5th century BCE. Plato’s description of the cave was an analogy depicting two versions of reality. In the shadowy recesses of the cave people were shackled to benches while images floated by, projected by a priesthood displaying images of deities while pacing behind a fire that cast images on a wall in front of the shackled spectators. The viewers were mesmerized by the images, but periodically one viewer made the decision to unshackle themselves and exit the cave to encounter the sun of truth. 

I posed a question to the class: “Are there opportunities for all the cave dwellers to unshackle themselves?” The philosopher, Heidegger, whose book “The Essence of Truth, considered the unshackling the most important part of the myth, which the class agreed with. They became absorbed by the implications of this story and how it could apply to those who supported the conventional “history” espoused by evangelicals, and the cynically disposed Israelis and Americans who were complicit in the genocide taking place in daily images;  the virtual reality of destruction transmitted throughout the world by the technical wizardry of modern media.

      

Plato’s (and Heidegger’s) explanation of those shackled in the cave was that they ceased to see what is taking place and are bound by their biases and beliefs to the “unhidden” nature of reality. Dissociation and a dulling of moral sensibilities are the lot of those shackled to benches in the cave which can be compared to the  Israeli activists and intellectuals who exit the shadow world of the cave and become Illuminated by the sun of truth. 

Are those dwelling in the cave bound by biblical beliefs or deliberately ignoring the massacres taking place in Gaza? The Amalekites in Exodus were massacred as a reprisal for an attack against Israelites after crossing the Red Sea?  Yahweh “vowed to blot them out from under heaven”, thus becoming a primal source for the justification of genocide by the more militant members of Israeli society, who compared Amalekites to modern Palestinians. A question addressed was: do “mythic histories”, which are, to some extent, historical fabrications, provide reasons for tribal vengeance and on-going genocide? 

Our class discussed these questions and the disjunction between two truths, one dealing with light emanating from the sun of truth and the other portraying the darkest aspects of biblical passages relating to mythic history. The result portrays a nation incarcerated in a cave of mistruths and misinformation, still shackled to hallucinatory images and unwilling to accept the consequences of the massacres that have been taking place in their name; Nor have they been able to empathize with the calamitous nature of the suffering caused by the deliberate bombing of women and children; Nor are they ready to atone for the moral shame causing generational traumas to the 16,000 children slaughtered by bombs provided by America, the “Great Babylon”. Such moral catastrophes will have to be confronted in the times to come, since they have not yet become crystallized, except to those who have exited the cave of shadowy images and confronted “the essence of truth.”

About the Author

Hugh J. Curran Hugh J. Curran has been teaching in "Peace and Reconciliation Studies" at the University of Maine for the past 20 years


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China’s Green Energy Wave enters the Middle East

 



China’s Green Energy Wave enters the Middle East

London (Special to Informed Comment; Feature) – Facing rising trade barriers and diplomatic tensions with the US and the EU, Chinese renewable energy companies are turning to Middle Eastern states as an alternative market for goods including electric vehicles (EVs), lithium-ion batteries, and solar panels. The US, the EU and Canada have all imposed tariffs on Chinese EVs, amid accusations that Beijing is dumping excess Chinese production overseas and using unfair subsidies. “Global markets are now flooded with cheaper [Chinese] electric cars. And their price is kept artificially low by huge state subsidies,” European Commission President Ursula von der Leyen said in September last year.

The EU has begun a probe into Chinese wind turbine companies. Then-Commission Executive Vice-President for Competition Margarethe Vestager warned that a wave of subsidised Chinese wind turbine exports: “is not only dangerous for our competitiveness. It also jeopardises our economic security.” The EU remains scarred by its loss of a trade war to China over the bloc’s solar power industry a decade earlier. Western governments and activists have also expressed concerns that China’s green sector is tied to human rights abuses like forced labour in Xinjiang.

In the Middle East, however, many governments remain open to Chinese green sector exports and have struck commercial agreements to gain investment from its major firms. In July, Saudi Arabia’s Public Investment Fund struck joint investment deals with Chinese solar power companies Jinko Solar and TCL Zhonghuan. Meanwhile, Saudi investment business ALGIHAZ signed a contract to build an energy storage facility with Chinese company Sungrow. The Australian Griffith Asia Institute calculated that altogether Chinese firms worked on green energy projects across the Middle East worth about $9.5 billion over 2018-2023.

Middle Eastern States Piggyback Off China

China’s government and Chinese state-owned or state-linked companies have been able to offer commercial and political advantages to Middle Eastern governments seeking to decarbonize their economies. Western engineering and manufacturing firms’ projects are regulated by numerous rules intended to prevent corruption, environmental harm and other negative development outcomes. Chinese companies under the direction of the ruling Chinese Communist Party (CCP) face no such restraints, though the quality of the infrastructure they have produced under China’s signature Belt & Road Project (BRI) initiative has varied. For autocratic Middle Eastern governments like the Gulf monarchies, however, Chinese companies have the ability to build high-technology critical infrastructure without the need to appease external stakeholders like the human rights groups or independent media outlets found in Western countries.


“Xi of Arabia,”

Chinese companies are also generally happy to operate in a Middle Eastern business environment that still often relies on patronage to get deals done. The CCP has cultivated particularly close ties with Saudi Arabia, the UAE, Iran, Egypt, and Algeria, with whose governments Beijing has signed comprehensive strategic partnerships (the most elevated type of bilateral agreement with China). These relationships have borne increasing fruit as the BRI has matured and new technology has widened the appeal of clean energy and other green industries. Petrostates like Saudi Arabia have belatedly woken up to the threat of climate change and their own potential ability to take advantage of clean energy like solar power.

Doing Deals to Decarbonize

Chinese President Xi Jinping met with UAE President Sheikh Mohamed bin Zayed Al Nahyan in Beijing in June. Xi promised his government would cooperate more closely with the Arab country on a range of industries including “information technology, artificial intelligence, the digital economy, and new energy.” China was already the UAE’s biggest trading partner in 2022 while the Arab state was Beijing’s biggest Arab trading partner, the UAE’s economy ministry said in 2023. While renewable energy development is only one aspect of the burgeoning diplomatic and trading relationship between the two sides, it is an important consideration for the UAE and its Net Zero 2050 strategy to decarbonize the country’s economy. Given China’s private sector is subordinate to the political aims of the ruling CCP, further Chinese green investment is likely to flow to the UAE in 2025. The UAE is also investing in renewables in East Asia, with its green energy firm Masdar aiming to install 2 gigawatts of renewable power in ASEAN countries by 2025. The firm was invited by the Philippines government to invest in Manila’s green sector too.

In May, the UAE’s Minister of State for Foreign Trade Thani bin Ahmed Al Zeyoudi, said “new energy” and “critical minerals” were among the areas the country was interested in engaging with Beijing. Chinese CEOs held meetings with UAE officials in July following the UAE president’s state visit to discuss bilateral cooperation in various areas, including solar power and renewable energy. The UAE’s example is being replicated by other Middle Eastern governments with whom China has cultivated close relations. At the Forum on China-Africa Cooperation in September, Egypt signed agreements worth more than $1.1 billion with Chinese companies, which included the country’s first green chemical plant. China’s Befar Group will build a $500 million facility powered energy sources including natural gas, wind and solar energy. A second deal involves the creation of a $100 million solar panel factory. Chinese companies are building solar power plants in Algeria and becoming investors and co-investors in Saudi and UAE solar and wind projects as these two countries decarbonise their power grids.

China Seeks to Refute Dumping Narratives

Meanwhile, Middle Eastern demand for Chinese clean energy infrastructure and products allows Beijing to claim it is not engaged in overproduction in sectors like EV manufacturing or renewable energy products and dumping the resulting excess on foreign markets. Much criticism of Chinese trade practices in the country’s green industries has come from the US and other Western governments. Treasury Secretary Janet Yellen said in April that excess Chinese manufacturing capacity in sectors like EVs and solar panels was intensifying. Chinese state media and CEOs like the head of vehicle manufacturer Great Wall Motor International have denied this, although non-Western countries like Turkey have also imposed tariffs on Chinese exports like EVs. China has taken Turkey to the World Trade Organization in response.

Trade tensions between China and governments under pressure to restrict Chinese green technology exports are likely to endure in many parts of the world. In the Middle East, however, Beijing and local regimes continue to discover synergies between their development needs. China’s sluggish economy and growing trade tensions with the Global North have left it in need of new markets for its goods. Meanwhile, Middle Eastern governments need the country’s know-how and deep pockets if they are to overhaul their own 20th-century fossil fuel infrastructure and create new jobs in the emerging green economies of the 21st century. 

About the Author

Neil Thompson is a freelance writer who has lived and travelled extensively through East Asia and the Middle East. He holds an MA in the International Relations of East Asia from Durham University, and is now based in the UK.


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