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Let this hit home...not one peep from either Congress or the President on Corporate taxes.
Read it and weep. And they are wining and dining Senators asking for tax breaks. They already got to Schumer and Hagan who are in favor of corporate "tax holidays".
Yet another GREAT article uncovering the fraud and corruption by The Rolling Stone.
Corporate Tax Avoidance | Russ Winter | FINANCIAL SENSE
Not to pick on just Microsoft, but they typify the method that large US multinationals use to lower taxes, and thus “beat on earnings”
..
Today MSFT is effectively a 68% foreign operation. In return they get all the benefits of stimulus and minimize the costs of supporting the US system."
Corporate Tax Holiday in Debt Ceiling Deal: Where's the Uproar? | Rolling Stone Politics | Taibblog | Matt Taibbi on Politics and the Economy
"For those who don’t know about it, tax repatriation is one of the all-time long cons and also one of the most supremely evil achievements of the Washington lobbying community, which has perhaps told more shameless lies about this one topic than about any other in modern history – which is saying a lot, considering the many absurd things that are said and done by lobbyists in our nation’s capital.
..
As it is, leading members of the Senate are seriously considering giving the most profitable companies in the world a total tax holiday as a reward for their last seven years of systematic tax avoidance. Hundreds of billions of potential tax dollars would disappear from the Treasury. And there isn’t a peep from anyone, anywhere, on this issue.
..
And nobody appears to give a sh*t. What the hell is wrong with people? Have we all lost our minds?"
Let this hit home...not one peep from either Congress or the President on Corporate taxes.
Read it and weep. And they are wining and dining Senators asking for tax breaks. They already got to Schumer and Hagan who are in favor of corporate "tax holidays".
Yet another GREAT article uncovering the fraud and corruption by The Rolling Stone.
Corporate Tax Avoidance | Russ Winter | FINANCIAL SENSE
Not to pick on just Microsoft, but they typify the method that large US multinationals use to lower taxes, and thus “beat on earnings”
..
Today MSFT is effectively a 68% foreign operation. In return they get all the benefits of stimulus and minimize the costs of supporting the US system."
Corporate Tax Holiday in Debt Ceiling Deal: Where's the Uproar? | Rolling Stone Politics | Taibblog | Matt Taibbi on Politics and the Economy
"For those who don’t know about it, tax repatriation is one of the all-time long cons and also one of the most supremely evil achievements of the Washington lobbying community, which has perhaps told more shameless lies about this one topic than about any other in modern history – which is saying a lot, considering the many absurd things that are said and done by lobbyists in our nation’s capital.
..
As it is, leading members of the Senate are seriously considering giving the most profitable companies in the world a total tax holiday as a reward for their last seven years of systematic tax avoidance. Hundreds of billions of potential tax dollars would disappear from the Treasury. And there isn’t a peep from anyone, anywhere, on this issue.
..
And nobody appears to give a sh*t. What the hell is wrong with people? Have we all lost our minds?"
Evidently you think it is a big problem when US companies seek to avoid paying taxes twice on their foreign earnings--the second time, at the highest corporate tax rate in the world?
The Simpson Bowles commission report spoke to this issue, recommending a "tax once" treatment, at significantly lower rates, without all the loopholes and special breaks that a corrupt congress has raffled off to those companies with enough lobbying firepower. When the owners of NASCAR tracks and the importers of rum have special breaks written into the law specifically for them, you know that Congress has breached its sworn duty to protect and defend the Constitution.
Repatriation tax holidays are not a great solution to the issue, as your links point out--but our insane corporate tax code is the underlying source of the trouble.
Lets tax the hell out of corporations as I just love paying even more for everything.
Or we could regulate them right out of business, then we wouldn't even have to worry about whether they paid tax or not. And industrial pollution would cease to be a health problem. It's a two-fer!
Our country is deep in debt and we have US Senators thinking about giving corporates a "tax holiday" on their US earnings. As the article states..that's hundreds of billions of potential tax dollars that will be lost.
And these are multi-nationals doing it. These guys will not create jobs or bring them back.
Or we could regulate them right out of business, then we wouldn't even have to worry about whether they paid tax or not. And industrial pollution would cease to be a health problem. It's a two-fer!
Out of business?
Use that thing between your ears!
Clinton made sure there would be no penalty to move a job making corporation, to a 3rd world nation to save them from themselves in the name of a one world order. Take from us with a boot on our throats, just to give to them, at the loss of our productivity and self sufficiency.
You have to make it just like it was, to get back to the productive days.
Our country is deep in debt and we have US Senators thinking about giving corporates a "tax holiday" on their US earnings. As the article states..that's hundreds of billions of potential tax dollars that will be lost.
And these are multi-nationals doing it. These guys will not create jobs or bring them back.
No problem. CUT SPENDING!!!
The government has a SPENDING problem, not a revenue problem. The government has grown so large and overreached so far that it's dragging the entire country down. Crash and burn, baby. Crash and burn.
The government has a SPENDING problem, not a revenue problem. The government has grown so large and overreached so far that it's dragging the entire country down. Crash and burn, baby. Crash and burn.
But what these senators want to do is REDUCE revenue.
This is not the time to reduce revenue.
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