Sunday, November 3, 2013

Publishing World Not Taxed Fairly

Most authors and publishers may struggle to make a buck, but Uncle Sam is sure to tax any of those hard-earned profits. But apparently some corporations don’t feel it's their duty to pay taxes at all.

But before we can excoriate Verizion or MetLife for not paying ANY taxes, we have to criticize the Congress that allows for loopholes, shady accounting and off-shore accounts to provide huge companies with a tax gift. No wonder why our budgets aren’t balanced-corporate welfare, corporate tax cheats, and tax holes allow for billions of dollars to escape the government.

Verizon is worth $146 billion. Tax bill? Zero.

Met Life is worth $54 billion. Tax bill? Zero.

Vornado Reality Trust is worth $17 billion. Tax bill: Zero.

See a pattern here? More than 10% of the S&P 500 companies paid zilch to the government. The GAO says that in 2010 corporations averaged a tax rate of 12.6% -- well below the 35% federal corporate tax rate on the books.

Newscorp, which owns Harper Collins, paid zero taxes despite a market capitalization of $10 billion. But most publishers and authors don’t receive such a sweetheart deal.

Whether you believe taxes are too high or low isn’t the issue. Taxation fairness is -- Why should multi-billion-dollar corporations pay less in taxes than an individual earning $46,000?

Mayve when we stop getting distracted by a government shut down, we can get something done on Capitol Hill that addresses tax inequity while reigning in the fat cats that make up the elitist 1%  -- and who pay 0%.

Interview With  Author Teresa Zerilli-Edelglass

What type of books do you write? I write non-fiction only. Same with reading. I like information, true stories, self help. In fact, I would call myself an information junkie.

What is your newest book about?
I’ve just written my first book, THROWN UNDER THE BUS: THE RISE AND FALL OF AN AMERICAN WORKER, a provocative, 100% true story that I call workplace bullying meets government incompetence.  This is THE most unique book of its genre, one that takes you behind the scenes of some of the most egregious workplace abuse you’ll ever know.  In fact, it’s almost a genre of its own!  Some of what you will read will make your blood boil, some will, no doubt, have you shaking your head in total and utter disbelief.  I’ve had many folks contact me to thank me for writing it even though it was hard for them to navigate through the emotional roller coaster ride it took them on. 
As Thrown is such a success in that it has not only helped many workplace abuse victims but also entertained countless other non-victim readers simply looking for a good triumph over tragedy story, I will continue on in the vein of writing similar books, perhaps a follow-up to my first. Although a new release, Thrown is really catching fire. The feedback has been amazing and I couldn’t be more pleased.

What inspired you to write it?
My inspiration came from having suffered for years at the hands of my former employer, public sector giant New York City Transit. The harassment began in 1992 and the ordeal, if you will, continued on until 2010. It was at that time, after 19 years of litigation and a hostile workplace that followed me to the safety of the little clamshell I call home, that I began writing Thrown. It has been a very cathartic but also still very painful process. It hurt to have to read my manuscript over and over during both the writing as well as the editing stages.  But I was determined to get my story out there. Now I am beyond thrilled to have done so.

What is the writing process like for you?
The writing process for me is what I call peeling back the onion. I regurgitate everything that comes to mind, vitriol and all, and then work to peel off the ‘nasty’ with each read, until I’ve gotten to the center, the place where I feel comfortable, that is, where I’ve said what I need to but without all the raw emotion. I didn’t write an outline for my book, but rather just dug deep into my memory, going back 20 years, spitting out whatever I could recall in chronological order. Of course, I had to rearrange some of the info along the way – and add details too! There was a heck of a lot to recall and some doesn’t hit you until long after you’ve read through numerous times.  Suppressing bad memories, perhaps?

What did you do before you became an author?
Before I became an author I was unemployed for quite some time due to the illness brought on by the workplace abuse. I struggled through many years of mental illness, therapy, doctors, anti-depressants and whatever else they tried to get down my gullet.  My former employer proved to not be the ideal employer I thought they were going to be, to say the very least. Prior to that, I worked on Wall Street trading stocks and getting treated like crap, not bullied, but just 'like crap', the Wall St. way. By that, I’m talking about the arrogant brokers who often times did not have the decency to address women by name but rather snap their fingers at them like dogs in order to get their attention. Needless to say, this did not go over very well with me. The difference between the two industries: public transit and brokerage, is stark – maybe more like shocking. But once the organizational culture shock wore off, I was happily on my way to a whole new career working in what I was convinced was a noble profession, that is, until the games began and the daily humiliation played on my psyche for all the years leading up to my federal discrimination trial. Thinking life would be good again after a big win, instead, I succumbed to depression and a host of other illnesses and retired…sort of.

How does it feel to be a published author?  It feels so incredible to have become published author – it’s a dream come true. It’s surreal. Maybe that’ll change at some point, but for now, it’s still strange. But good strange. I always loved to write and knew I’d someday write a book, but didn’t know just what that book would be about until I became embroiled in the nightmare that would consume nearly 2 decades of my life.

Any advice for struggling writers?
My advice for struggling writers is that if you want to write a book – DO IT! Many new authors are unfamiliar with the self publishing world, they do not realize that there is a lot more money to be made if you are willing to roll up your sleeves and get the job done yourself! We are no longer slaves to the snobby big publishing houses and the agents that think they’ve got it all wrapped up. Don’t waste your time. Self publish, be your own boss, call your own shots. The free market will decide whether your book is worthy (provided you are willing to do the marketing, that is). And if it is, you can bet that one of those snobby publishing houses will come knocking. Just make sure you get a good deal; don’t jump the gun out of emotion and give away your precious work without proper compensation.

Where do you see book publishing heading?
Some folks say that book publishing is going by way of the do-it-yourselfer and, to some extent that might well be true. Even the big publishing houses are jumping in the game these days as they are smart enough to see the trend and want in on the spoils. Insofar as paper vs ebooks goes, it looks like paper is here to stay even though ebooks have outsold paper (so I’ve been told) for the past couple of years. 

For more information, please consult:

Don’t Miss These Recent Posts

Do Authors Need A Business Plan?

Social Media Tips For Writers

Turn Your Words Into Money

Making Your Book Promotable – Before It Is Published


10 Ways To Get A Media Hit

What Can You Do With Old, But Underexposed Content?

The Role Of Money In Book Publicity

Book Blogging Tips For Writers

How Can Authors Measure Social Media Success?

Do You Market Your Books Doggy Style?

Brian Feinblum’s views, opinions, and ideas expressed in this blog are his alone and not that of his employer, Media Connect, the nation’s largest book promoter. You can follow him on Twitter @theprexpert and email him at He feels more important when discussed in the third-person. This is copyrighted by BookMarketingBuzzBlog © 2013

No comments:

Post a Comment

Note: Only a member of this blog may post a comment.