Kiss frontman Gene Simmons is defending the bankster one percent. He says the country would fall apart in short order if not for banksters and corporatists.
“The 1 percent pays 80 percent of all taxes,” the rocker told UT San Diego. “Fifty percent of the population of the U.S. pays no taxes. The 1 percent provides all the jobs for everybody else. If the 1 percent didn’t exist, there would be chaos and the American economy would drop dead.”
Simmons skews the stats in order to defend his imagined status as a preferred member of the one percent.
In fact, middle class Americans pay most government taxes. Federal personal income taxes comprise less than a third of all government taxes confiscated in 2012.
“Federal, state and local governments collected $4 trillion in taxes last year,” writes Josh Barro for Business Insider, “just $1.1 trillion of that was federal personal income tax.”
“And people with low incomes who don’t pay federal personal income tax do pay lots of those other taxes: payroll tax, state income tax, sales tax, property tax, excise taxes, and more. They pay other taxes indirectly: Workers bear the burden of employer-paid payroll taxes and part of the burden of corporate income taxes.”
Leona Helmsley was correct when she infamously declared: “We don’t pay taxes. Only the little people pay taxes.”
The super-rich, the elite who are at the pinnacle of the so-called one percent, do not pay taxes as Gene Simmons so arrogantly claims.
A report produced in 2012 shows the elite have as much as $32 trillion of hidden financial assets in offshore tax havens, representing up to $280 billion not confiscated by the government. The sum does not include non-financial assets such as real estate, gold, yachts and racehorses.
The process of hiding wealth from government confiscation is a highly tweaked science, one not available to the average American.
Files examined by The International Consortium of Investigative Journalists “provide facts and figures – cash transfers, incorporation dates, links between companies and individuals – that illustrate how offshore financial secrecy has spread aggressively around the globe, allowing the wealthy and the well-connected to dodge taxes and fueling corruption and economic woes in rich and poor nations alike.”
In addition to squirreling wealth away in tax havens located in the Cayman Islands, Cook Islands, Liechtenstein, Bermuda, and the British Virgin Islands, the mega-rich who comprise the global elite are adept at protecting wealth by walling it off in foundations. This idea was cooked up by the mega-rich during the Gilded Age when the likes of Rockefeller and Carnegie established tax-exempt foundations to push their political and social agendas and influence public policy directed by government.
Simmons insists the mega-rich provide “all the jobs for everybody else.” In fact, the middle class does this, unless of course you consider millionaires part of the one percent.
“About 6.15 million millionaire households are spread across the U.S,” Phoenix Marketing International concluded in January. “That means 1 in every 20 households in the U.S. has more than $1 million in investable assets. Those figures don’t include the value of real estate.”
This is well-over one precent of the population.
Simmons is himself a millionaire who does not approach the one percent in wealth. He has a net worth of $300 million.
According to the Small Business Administration small business – most not owned by millionaires – employ around half of all private sector employees and produce more than half of the non-farm GDP in the United States.
“From 1992 through 2010, small businesses outperformed large firms in net job creation 75% of the time,” a Small Business Fact Sheet observed in 2013.
Simmons is really in over his head when he talks about the economy. “If the 1 percent didn’t exist, there would be chaos and the American economy would drop dead.”
In fact, it is the upper echelon of the one percent, the banksters and corporatists, who are responsible for looting the economy and exporting U.S. jobs to slave labor gulags in China and other authoritarian hellholes. They are primarily responsible for economic chaos and misery.
The upper echelon of the one percent created the Federal Reserve, the bankster cartel responsible for engineering the asset bubble economy now destroying America.
Gene, however, seems blissfully unaware of this.
All told, he is a wanna-be corporatist who has nothing but contempt for average working people and the middle class, including those who buy his products and attend his concerts.