Forum Post: Let them know who we are
Posted 13 years ago on Oct. 29, 2011, 10:51 p.m. EST by justjerry
(1)
from Slidell, LA
This content is user submitted and not an official statement
I truly respect and appreciate everything that you are doing. I'd like to make a suggestion on how to make an impact on the world bankers. Put together a plan that everyone that supports you to withdraw their cash from the banks. It only has to happen for one week. It sounds complicated but hear me out. You pay all your bills at the end of the month, before the month set(by your group) for withdrawing the cash out of the banks. Then for the next two weeks have your supporters to start closing their accounts. It's a two week slap in the face to big banks, one because seeing the money leave their hands will devastate them, and seeing it being done by people that they have zero respect for(average working people) would show them that they aren't as powerful as they like to think they are. You can beat them, but you can only do it by taking away what they think makes them better than us(our money).
That's a tilt towards anarchy which could result in a run on the banks when they begin to fail. A better alternative is seeing the problem on a grander scale by looking at it from the perspective of Wall Street which includes all corporations including banks. So far I have not seen on the news one constructive point via the media coming out of the OWS movement which would accomplish what is desired to increase the amount of taxation on the 1%. As a retired IRS Agent I can tell you that if you want to get at the fat cats being the corporations here is an ironclad way to do it. There does exist a federal tax directed exactly at the problem herein in the USA which is never enforced. If a corporation witholds too much earnings it is subject to a tax called the Accumulated Earnings Tax. It is explained at Internal Revenue Code Section: " Sec. 531. Imposition of accumulated earnings tax In addition to other taxes imposed by this chapter, there is hereby imposed for each taxable year on the accumulated taxable income (as defined in section 535) of each corporation described in section 532, an accumulated earnings tax equal to 15 percent of the accumulated taxable income.." Anyone can call the IRS toll free number and have it explained then you can call the Office of the White House and ask the question as to why the IRS is not enforcing this law on the Corporations for whom the media states that they are holding onto trillions of dollars not spending into the economy to create jobs. I can tell you the IRS is not enforcing the law because the law does not have enough meat into it and it has not been enforced because of that thus making the law a joke. The OWS movement will absolutely grab the attention of the world wide media if it focuses on the AET and makes it a World Wide buzz in protest signs and does interviews regarding it with the business news programs of Fox Business Channel and NBC's Business Channel and CNN. If you make the AET a household term instead of Herman Cain's stupid 999 = 9% sales tax = regressive taxation of poor and compete with that you can get it to become a part of the Republican Presidential candidate debates especially with Michelle Bachman who should be aware of it being a former tax attorney. Do you think Herman even knows what the AET is? You don't so find out about it because it could force corporations to start spending their cash hoards to create jobs and end force the stopping of foreclosures because Corporation HATE and FEAR the AET when an IRS Agent brings it up in an audit examination. Put some muscle in your arguments. In addition sound off to the White House on the issue of taxing: "Unreasonable Compensation" being paid to Corporate Officers wherein "Reasonable Compensation" should = what the President of the USA makes and let the IRS go after all amounts in excess of that be considered as "unreasonable" = not deductible by the corporations on their tax returns of income tax purposes. WALL STREET will definitely not like that one and discuss that in interviews you give with the business networks. REPOST this if you understand this tax talk. If you don't ask questions for further explanation.
Thanks, I didn't know that, but I'll definitely look into it