Quiz time again! Jot down your ideas as you go. The answers are below.

  1. Despite earning record profits, do any large American companies pay zero federal income tax?
  2. How much does a taxpayer earning $50,000 per year pay for welfare for “moochers?”
  3. Did last year’s Republican tax “reform” change 1 and 2 above?
  4. Is there any building, anywhere, which is “home” to over 19,000 “American” companies?
  5. Nobody cares about national debt, so what is wrong with increasing it?
  6. What will be the total cost of former President George Bush Junior’s futile wars in Iraq and Afghanistan?
  7. What would minimum wage be today if it had kept pace with inflation and gains in productivity?
  8. Is income inequality today worse than in the days of The Great Gatsby?
  9. Where are America’s poorest counties?
  10. Why did America’s free trade negotiators do such a bad job? Were they “duped” as candidate Donald Trump claimed?
  11. What are the Paradise Papers and Panama Papers?
  12. Is growing monopoly power a problem for you?
  13. Why do Democrats criticize former President Ronald Reagan, who led an economic recovery creating 74 months of job growth, cut unemployment by half and shaved $1 trillion from the annual deficits?

Here are the answers:

  1. “There is something profoundly wrong in America when one out of five profitable corporations pays nothing in federal income taxes. We need real tax reform to ensure that the most profitable corporations in America pay their fair share in taxes. That means closing corporate tax loopholes to raise the revenue necessary to rebuild America and create millions of jobs,” said U.S. Sen. Bernie Sanders. These tax avoiders are the real moochers. They enjoy benefits of security, an educated workforce, infrastructure and access to the American market, but pay nothing in return.
  2. $42. This pales into absolute insignificance at corporate welfare: $870 in outright subsidies; $1,600 to offset corporate tax loopholes; $1,231 to offset losses from overseas tax havens (Tax Foundation; Citizens for Tax Justice).
  3. No. Corporate welfare will increase and tax revenues will decrease, increasing national debt by $2 trillion, sticking your kids with the tab, purely to make billionaires even richer.
  4. 355 Church St., George Town, Cayman Islands. A law firm there serves as their registered office, enabling American corporations to legally “reside” there and dodge American taxes. Around $2.2 trillion of corporate money is sitting in such tax havens, untaxed (therefore not reducing national debt).
  5. Congratulations, you are thinking like a Republican. But the U.S. government is the world’s biggest borrower. Uncle Sam must pay interest on America’s fast-growing pile of IOUs. In 2017, 6.6 percent of all government spending went on paying interest alone. This number will double in 10 years due to Republicans’ fiscal irresponsibility (New York Times).
  6. According to Joseph Stiglitz (Nobel Prize, economics), these wars are adding $6 trillion to the national debt, factoring in all direct and indirect costs (rat-hole alert).
  7. Minimum wage in 1968 was $1.60. If it had kept pace with productivity gains and inflation, it would be $22 now, not $7.25.
  8. Yes, inequality is worse than in The Great Gatsby’s days and getting worse every year. Democrats are finally pointing this out (meekly, so as not to offend anyone).
  9. 95 percent of the poorest counties are located in solidly Republican states. Owsley County in Kentucky is 97 percent Republican, 94 percent of whom receive welfare payments.
  10. America’s free trade negotiators did an excellent job . . . for their corporate overlords. Workers were thrown under the bus. Trump seized on this during the last election. Economist Stiglitz stated: “Trump says we were duped in our trade negotiations. In fact, our trade negotiators got most of what they wanted — and what they wanted was to serve corporate interests.” The Trans-Pacific Partnership was designed to serve corporate interests even further. Former corporate lawyer Hillary Clinton helped to negotiate it. She took on Stiglitz as her economics advisor but soon dumped him and so never came up with an economic message for the working classes.
  11. These are 13.4 million leaked documents showing how the super-wealthy hide their money. Bernie Sanders stated: “The Paradise Papers show how these billionaires and multinational corporations get richer by hiding their wealth and profits and avoid paying their fair share of taxes.” The world has turned into an “international oligarchy” controlled by a minute number of billionaires.
  12. Economist Stiglitz says that America has a growing problem with unchecked corporate mergers leading to monopolies or near-monopolies, acting with complete impunity.
  13. Trick or treat! Reagan did nothing of the sort. These are the accomplishments of former President Barack Obama.