‘Shadow Fiscal Policy’: Profs Encourage America’s Wealthiest to Redistribute Tax Savings
- Posted on December 30, 2010 at 1:06am by
Meredith Jessup
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After the federal government recently agreed to extend tax cuts to the nation’s wealthiest, three professors from Yale and Cornell universities have created a website to encourage them to donate their tax savings to charities while simultaneously sending a political message.
The professors started GiveItBackForJobs.org, a website that allows those “who have the means” to calculate their total tax cuts and donate the amount to charity.
“Extending the tax cuts for the very wealthiest Americans is frankly unconscionable,” Yale Law School professor Daniel Markovits told the Associated Press Wednesday. With the website’s help, “donors can pledge their money to support the kinds of programs that will help families, create jobs, and set the country moving toward a just prosperity,” the professors said.
Markovits, Yale political scientist Jacob Hacker, and Cornell law professor Robert Hockett started the campaign. Hacker is co-author of “Winner Take All Politics: How Washington Made the Rich Richer — and Turned Its Back on the Middle Class.”
The three recommend giving to groups such as Habitat for Humanity, Children’s Aid Society and Salvation Army that they say promote fairness, economic growth and a strong middle class. They say the contributions could replicate good government policy and, in effect, draft the government as a funding partner when the donation is tax deductible.
“The collective giving together becomes almost a kind of shadow fiscal policy,” Markovits said.
This “shadow fiscal policy” will go further to help the middle class than tax cuts for the rich, the professors say.
“America’s shared prosperity is under threat. Even as the Great Recession devastates the American middle class, the wealthy continue to prosper,” the group’s website says.
“The tax cut deal, while perhaps the best the President could get, will not end this crisis of American democracy. It does too little to help the middle class. And it expects too little support from those who can afford to give the most. Ordinary citizens can, by acting together to create a shadow fiscal policy, correct this failure of government and set the country moving toward a just prosperity.”
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Comments (63)
dizzyinthedark
Posted on December 30, 2010 at 11:07amWell I see this as nothing more than THOSE guys once again pointing out that those that ‘have’ are evil. People with $$ still aren‘t doing enough for those that don’t have $$. Will they never shut up and go away! Will they always be there beating the drum for Soros? Will we fall for this time and time again?!
Professors, GO AWAY WITH YOUR RIDICULOUS IDEA, THE JIG IS UP! WE SEE THROUGH YOUR PLOY AND IT WILL NOT WORK! WE KEEP OUR $$ BECAUSE WE EARNED IT. WE GIVE OUR $$ TO WHOMEVER WE WISH OR NOT–END OF STORY!
Better yet you snooty lot, how about coming up with something like SMALLER GOVERNMENT, SO WE CAN SAVE $$!! HOW ABOUT LOWERING THE PAYCHECKS OF THOSE SERVING US!! HOW ABOUT CANCELING OUT MOST OF WHAT‘S BEEN CRAMMED DOWN OUR THROATS THAT’S COST US $$!! HOW ABOUT LOWERING YOUR SALARIES MR. PROFESSORS, BECAUSE WITH THE IDEAS YOU ARE PROPOSING ONE SHOULDN’T MAKE THE $$ YOU MAKE!!! HOW ABOUT GOING AFTER OVER-SEAS MEGA COMPANIES THAT DO EVERYTHING TO AVOID PAYING BILLIONS IN TAXES!!
Okay, time to exit my ‘soap box’. My head is going to explode! Thanks for listening!
Report Post »richahlgrim
Posted on December 30, 2010 at 10:41amThe perfect tax system would be one that taxes asset value not income. The Purpose of the income tax is to keep people in their place as are all ‘progressive’ ideas. Income tax is a barrier to wealth creation, acculmulation and does not effect those whom are already wealthy. It was dreamt up by the 1900‘s country club set who became distressed when the ’unwashed’ masses began to invade their clubs and golf courses. Simple as that. All ‘progressives’ policies are designed to keep us out.
If lieberals/progressives really believed in ‘wealth redistribution’ they would be pushing for a tax system that is based on asset value, not income. If lieberals/progressives really believed in their myraid of supposed causes (the poor, Aids… etc… ) they would give more instead of trying to ‘take’ more.
Report Post »Snapperhead
Posted on December 30, 2010 at 10:33amI always encourage people to be charitable. As long as people are being asked to think about donating money I have no problem with it. Its when a Government or people DEMAND and REQUIRE that I donate that I have a problem with.
As long as they are not giving it back to the government and actually donate it to something that can help out our fellow countrymen and women and children that would be the best thing.
Report Post »Disabledvet
Posted on December 30, 2010 at 9:31amThey already do it is called Jobs, who do think makes jobs it sure as hell is not the poor, it is the rich that open companies and create jobs,
We need the Fair tax, Look up Fair Tax by Neal Borts
Report Post »wbalzley
Posted on December 30, 2010 at 2:17pmActually, the wealthiest people in the world do not create jobs–they destroy them. Jobs are created by middle-class people who start NEW businesses and create NEW wealth. The wealthiest people in the country live off the fruits of other people’s labor (its called INVESTING).
Report Post »LearnFromTheGiants
Posted on December 30, 2010 at 9:25amWhat these professors are ticked off about is government can’t legally steal more from the ones who work and earn what is, by law, rightfully theirs.
Report Post »wbalzley
Posted on December 30, 2010 at 2:09pmJD Rockefeller taught us all the secret to getting out of poverty, it goes like this:
Report Post »Step 1: Get up early
Step 2: Work hard
Step 3: STRIKE OIL
Teaching a person does them no good if there is no OPPORTUNITY. A fishing pole does little good in the desert…
LearnFromTheGiants
Posted on December 30, 2010 at 9:22amThe most dangerous people on earth are people who want YOU to live your life according to THEIR standards. If you want the “poor” to be better off, teach them how to be self-supporting.
Report Post »rbqueen
Posted on December 30, 2010 at 7:45amThis goes to reinforce the clearcut knowledge that in most cases. Supporting most professors teaching would be the same thing as supporting stupidity. These liberal commies will try to steal everybodies money from them one way or another. Perhaps they should start verifying these professors for a honest and moral content, most of them would lose out big time.
Report Post »I_can't_believe_this_stuff
Posted on December 30, 2010 at 7:18amNow let’s see, who would the wealthiest be, hmmmm. I know, anybody making more than me! That must be their logic, right? But it seems less like ‘logic’ and more like some primitive urge to steal from their neighbor.
Remember “those who can work – work, those who can’t work- teach, and those who can’t teach – get into politics.” It seems that these three should be in politics. Just like obama.
If these are the best that Yale and Cornell can find to employ as professors then I’d say their product is wayyyy overpriced.
Report Post »cykonas
Posted on December 30, 2010 at 6:31amNo harm here. It’s completely voluntary. There are 3 suggested charities, but there is also a section that allows you to name your own charity. Anyone can use it regardless of their demographics. I didn’t see anything thing on the site that looked even remotely partisan. What’s the beef? My hat‘s off to the prof’s for promoting a way to help people that does not involve the Government.
Report Post »Windsong
Posted on December 30, 2010 at 6:29amThat’s a great idea, Professors! In two years, this administration has re-defined the wealthy Americans. The poor and middle class are in about the same shape now. Sadly, it was the middle class, which are the small business owners, entrepeneurs and honest, tax payers, who is being replaced by ‘unions’ that America can no longer afford. ‘Union’ don’t invent new things, they just demand their proper break times…and that the ‘miidle class’ pay for all their health and retirement programs. So, without a middle class, the ‘union’ have no choice but to pay for their own…‘stuff’.
Report Post »Now, I know that it‘s popular to blame ’banks‘ and ’Wall Street’ for all the woes in this nation, but there is new, enlightening material now available.
For instance, do you know what the worth of every politician is in this nation? Wow! You really ought to delve into that one…they outdo many on Wall Street – plus, they are exempt from Obamacare. Also, look into Hollywood and professional sports people. They DO outdo those on Wall Street. Also check into the Warren Buffet‘s and Oprah Winfreys and Goerge Soros’ of this nation. I figure that if you use your ‘celebrity’ to help destroy the very fabric of this nation, you need to be there to pay for all those ‘union’ contracts that you feel are so important. Of course, George Soros should pay the most, since he designed the destruction of this…his fourth…collapsed nation.
Oh, and Professors? Since the dollar will be worthless very soon – if George has anything to do with it – what subjects…in what language do you believe you will be permitted to teach? You must have realized by now that you are in the process of selling your soul – just to be one of the ‘powerful elite’. If I were you, Professors, I’d write a book…to all your grandchildren and their children. Tell them what great people you are. Explain why it was important to you to have helped tear the fabric of this nation apart…and how much better their lives will be without rights or freedom. I‘m sure they’ll understand someday…why you believe so strongly that, if ALL people can’t be free or fed or clothed…then NONE should. I’m sure the bin Laden will no longer consider you an Infidel…if you are poor like all of his people. I‘m sure he’ll let you live…just sure of it!
Go and research the wealthy, Professors, right after you go to a therapist. Good luck with that.
Non-sequitur
Posted on December 30, 2010 at 7:28amSo asking people for donations is bad now. Alrighty, I‘ll call my church and tell them they’re dicks.
Report Post »EP46
Posted on December 30, 2010 at 6:18amWhere have these people been living ???? A large group of the very richest Americans HAVE ALREADY joined together to pledge to donate their money to charities. Bill Gates and others have already started doing this…..large donations. Some have said they will give all their money (over time) to charities. So now this group wants more????? The rich are smart…give it away to be used for a good cause rather than let the government take it in taxes and waste it.
Report Post »Thou Shalt Not Covet
Ron_WA
Posted on December 30, 2010 at 5:09amOkay – while this is not the government’s lane (to tell us how to tithe) or some liberal’s or elitists’ demand that I contribute, it is okay that there is a call to help those in need. Christianity (& most other religions) also encourages the privileged to give to the needy so I’m not sure how this is solely a liberal issue (if given to individuals or private organizations) – I tithe, volunteer & give to the needy. My faith encourages that. I’m having a hard time seeing how that’s a bad thing (unless asked to give to the govt. to dole it out).
Report Post »On the other hand, if they want me to give to government to decide where the support goes – TO HELL WITH YOU! Charity is all about one person helping another!
Anne G
Posted on December 30, 2010 at 4:39amI think the rich are doing a good job as far as charity goes. And they know who they
Report Post »want to give their money to. They do not need these professors telling them which
charities to give to. Thank God for rich people, I say.
Chett
Posted on December 30, 2010 at 5:04amhmm I think Soros money could go better places :D
Report Post »Non-sequitur
Posted on December 30, 2010 at 7:20amSoros gave $100 million to Human Rights Watch just last September. Didn’t Beck mention that?
Report Post »MeteoricLimbo
Posted on December 30, 2010 at 4:23ampull the monkeys off their backs so they can..
Report Post »Chett
Posted on December 30, 2010 at 3:45amTaxes ….do we even need them? I just watched a pretty long vid, with a lot of web based documentation, that might change the way you see a lot of things. Frankly I am still chewing on it, certainly plan more research.
Report Post »I am blown away, more even than most of Glenn’s revelations.
http://www.archive.org/details/the_corporation_nation_2010_wakeup
.
BoilitDown
Posted on December 30, 2010 at 3:20am“Professor” is fast becoming a very derogatory term, especially with pronouncements of this sort. Don’t get me wrong, I think a fair percentage of the professors out have been instrumental in the down fall of our nation. A new term for the bad ones needs to be devised to better ridicule them out of existence.
Report Post »M 4 Colt
Posted on December 30, 2010 at 2:08amGee i dont know about you, but right now i dont have any extra money to give away, but if these three professors feel in such a giving mood then why dont they donate some of their money, oh wait, how silly of me, they dont want to give away their money, they just want to give away other peoples money. They remind me of all those rich left wing congressmen that are so eager to redistribute our money but dont want you to touch any of theirs but if i remember right the good book says charity first begins at home funny how they dont want to follow what they preach isn’t it.
Report Post »wbalzley
Posted on December 30, 2010 at 2:24amWow, you viciously attack someone you DO NOT KNOW for advocating voluntary charitable contributions…somehow that does not seem right to me.
Report Post »Non-sequitur
Posted on December 30, 2010 at 7:10amLEFTIST COLLEGE INTELLIGENTSIA! *fistpump*
Report Post »Bamahillbilly
Posted on December 30, 2010 at 2:04amI live on SOC, with Medicare and Medicaid. I don’t ask for or expect anything more than what I have.
Report Post »And if I had two good legs and arms I’d still be trying to build my own wealth. I believe in the programs that take care of the elderly and disabled, but this share the wealth crap is just that, crap…
beebacksoon
Posted on December 30, 2010 at 7:13amBamahillbilly: Hells Bells….Why ask for anything more? You HAVE it all!
Report Post »Bamahillbilly
Posted on December 30, 2010 at 3:02pmAs a laborer I took pride in the fact we live in an America where we take care of our own! Today I live in the security of an America that takes care of it’s own! And today I see too many people who would turn this country into the next Mexico, well third world country..What a shame..
Report Post »Into The Night
Posted on December 30, 2010 at 1:56amI sent this to the freak that started the website, and you can too.
contact@giveitbackforjobs.com
It should be mandatory when you sign up for the democratic party to give away every penny you earn over the national average. That goes for EVERY liberal! Gates, Buffet, Soros, et al…even you! Yeah you! The holier then thou intellectual sitting there reading my email! I know you make more, have more, and keep more then the average American, so give it up. Put your money (literally) where your mouth is! Call your friends like Gore, and Moore too. All these blow-hards telling everyone how to live while they run around the country doing exactly the opposite.
Look up the term hypocrite for me…
Report Post »wbalzley
Posted on December 30, 2010 at 2:22amWhile you are at it, look up the term “straw man” for me…
Report Post »Non-sequitur
Posted on December 30, 2010 at 7:25amWhile you’re at it, could you be a dear and look up the term “Chloroplast” for me? I‘m working on a paper and I just can’t be bothered. Toodles!
Report Post »paulamadden
Posted on December 31, 2010 at 6:13pmAmen…let them pony up and be an example of what they‘re calling for rather than pointing the finger at everyone else to do what they’re told.
Report Post »Into The Night
Posted on December 30, 2010 at 1:48amIt should be mandatory when you sign up for the democratic party to give away every penny you earn over the national average. That goes for EVERY liberal! Gates, Buffet, Soros, et al…a lower middle class livable wage for a family *starts* between $35,000 and $45,000 depending on the size of the family.
Keep that much and give the rest to your “open society”. Please, someone make a chart on how much money this would be and send it to Obama.
Then take your hands off MY money!
Report Post »mrmikejohnson
Posted on December 30, 2010 at 1:44amCan we safely assume that Harvard, Yale and the other Ivy schools all officially teach and preach socialism?
It’s amazing that those used to be considered the best schools in the country.
Report Post »godlovinmom
Posted on December 30, 2010 at 2:56amdare I say it…some of them used to be christian colleges…
Report Post »lionslayer44
Posted on December 30, 2010 at 1:19amif i gave money to my bookeeper to pay bills and she gave it out to all her friends and then came back and said she needed more money to pay the bills would it make any sense to keep her on? NO! then why do we keep doing it with our politicians? THROW THE BUMS OUT!!!!!!
Report Post »not funny
Posted on December 30, 2010 at 8:04amMost politicians are primarily concerned about their own reelections. They will say and do anything to remain in office. The money and perks they receive is sinful.
Report Post »BiteMePETA
Posted on December 30, 2010 at 1:18amfascist…. their ideology is an attack on the middle class… they are literally just too brainwashed to see it.
Report Post »beebacksoon
Posted on December 30, 2010 at 7:18amIs this “Shadow” Fiscal Policy a creation of George Soros?
Report Post »To the Dems: The RICH help keep this miserable economy going. And, by the way, who the hell do you think you are to determine who pays more tax depending on their wealth? They, in most cases, earned that income the old fashioned way…HARD WORK, something you are not familiar with. It is THEIIR money…keep your greedy hands off!
neversaynever
Posted on December 30, 2010 at 12:17pmThey’re simply asking for those people to make charitable contributions to non-government charties. I’m all for that. In fact, I would rather more people donate to charity and do away with the welfare state. I think this is the right direction; Allow people to use their own money to help other people instead of taking it from them in the form of taxes and trying to redistribute it.
Report Post »dswynne1
Posted on December 30, 2010 at 1:16amI blame Charles Krauthammer for this. He mucked up the argument of the tax debate by stating that since the government is not getting the money intended for its expenses, then the country is receiving a stimulus. I’m sorry, but:
a) It‘s not the government’s money that is being spent, it’s the tax payers, and,
b) Capital gains and the death tax went up (even slightly), so the rich WILL be paying more taxes.
Federal income taxes for everyone will not change. So how are the rich getting any savings? Gawd, people are so dumb…
Report Post »A Doctors Labor Is Not My Right
Posted on December 30, 2010 at 1:34amYou’re right, it‘s not the government’s money. And further, the idea of “shared prosperity” is anti-American.
Individual liberty means what I earn I will keep, and I will only be taxed according to the wealth I produce. Transfers of money, such as inheritances, are transfers of wealth that has already been taxed, and so the attempt to take more of that wealth when someone dies is theft, and no one should feel guilty for hiding that wealth from this Marxist, traitorous administration.
Remember, money is worthless – it only has value because it is considered to represent actual wealth, such as labor, materials, or finished goods. The more money we print, the less wealth that money represents – BUT THE ACTUAL VALUE OF WEALTH REMAINS THE SAME. (Which is why the Gold Standard is better than printed money, because there‘s only so much gold in the world and it can’t be printed.)
Report Post »wbalzley
Posted on December 30, 2010 at 2:19am@A Doctors Labor Is Not My Right. Are you also opposed to making voluntary donations to help the less fortunate? That appears to be what these people are advocating–not government thievery .
Report Post »dswynne1
Posted on December 30, 2010 at 9:36am@ wbalzley the problem is that these people believe in charity…of other people’s money. A study recently was made that indicated that conservatives are far more charitable than liberals are with their money. But putting that aside, if these professors want more charity, they should start by demanding that all tuition should be lowered and equalized across the board (i.e. no more out-of-state/in-state tuition), and that these endowments and trusts should be taxed (which they aren’t). I would also add that all charities, union dues and other donations should be taxed. Another thing: after the November Congressional elections, there is over $400 million dollars in campaign contributions out there. That is certainly taxable revenue out there. But bottom line, the government has more than enough money to operate, and that taxing the rich (with the top 10 percent income earners paying more than half the taxes in real dollars) for more cash is not the answer, especially since the Federal and state budgets can be trimmed at the very least.
Report Post »amerbur
Posted on December 30, 2010 at 1:11amWe will see just if the left really believes in what they claim. If I had any money, I would not however, give it to the government to squander.
Cobra Blue
Posted on December 30, 2010 at 1:54amAll these libs always want the rich to send in more money. Cause its the right thing to do…Yea right. But they never seem to remember that anyone can send money to the federal government anytme they want. You can pay more than your tax liability. The government will be glad to take the money. So for all you lib progressive types out there. You are so concerned about more money being collected by the treasury i.e. tax cuts for the rich…well put your money where your DAMN mouth is. Lead by example for once. You pay more than required (because its the right thing to do), then we will talk about the rest of us sending extra money to the government. Unitl then…shut the HELL up. My money and what I spend it on is none of your DAMN business.
Report Post »wbalzley
Posted on December 30, 2010 at 2:13amIt sounds like the kind of “redistribution” I can agree with–voluntary donations made through private channels. If they can keep the government’s grubby hands off it, I say go for it.
Report Post »RepubliCorp
Posted on December 30, 2010 at 3:23amWe should start a site like that. Call it The _Guilt_Riddled_ Rich_ Libs. com. Take the $10 we make and send to a conservative running for office…….
Report Post »S G Applebee
Posted on December 30, 2010 at 4:07amIt’s very SIMPLE if you have actually READ the teachings of Jesus.
Report Post »If those who FALSELY claim to be “Christian” would actually DO what Jesus told them to do, those on the “left” would have no need to be calling for the redistribution of wealth.
My name is S G Applebee and I have NEVER met an ACTUAL Christian—and I can prove it.
Non-sequitur
Posted on December 30, 2010 at 6:56amI met a Unicorn once. It was a jerk and bit me.
Report Post »not funny
Posted on December 30, 2010 at 8:49amI just saw the results of another study on who gives more of their private money to charity–Democrats or Republicans. Most people responded that it had to be Dems because they are more concerned about the poor, but the truth is it is Repubs. Also, the perception that Repubs are wealthier is also false.
Report Post »Hoosier Daddy
Posted on December 30, 2010 at 9:12amAmerica’s wealthiest should encourage profs to pound sand.
Report Post »sWampy
Posted on December 30, 2010 at 10:03amI would really like to know how many “individuals” were actually effected by this. Everyone I know, every single one of them that makes over $250 that isn’t a small business goes to great lengths to hide their income so it looks like they make considerably less than they really make. And when you get into the class of really, rich they have most of their income paid to a charity/trust directly that they can then use as they see fit without paying taxes on it, or they arrange to get paid mostly in stock that pays no income but huge dividend that is taxed at a super low rate. If the media really wanted to sock it to the rich like they say, they would do stories every night showing how the rich cheat to pay next to nothing in taxes while the middle class get it socked to them.
http://www.melodysphotos.com
Report Post »paulamadden
Posted on December 31, 2010 at 6:10pmWhy do all these wealthy lefties continue to ask OTHERS to give up their money for “the greater good?” I don’t see any of these wingnuts writing a bigger tax check to the IRS. I would say YOU FIRST
Report Post »paulamadden
Posted on December 31, 2010 at 6:11pmWe sure don’t see Sen. Kerry volutarily writing that tax check he owes on his yacht do we?
Report Post »