July 1, 2022

Make Deadbeat Corporations Pay!

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deadbeat-corporations-320x240By Stewart Acuff From Daily Kos

Nobel Prize winning economist Paul Krugman and other economists have been looking at a particularly ugly and cynical and UNPATRIOTIC corporate practice to avoid paying any American taxes. These are American corporations which make their money in America, use and abuse American workers, and use American infrastructure.

Then without changing any business practices they change their headquarters to another country like the Cayman Islands to avoid any American taxes.

Now more and more corporations are doing this. It does nothing to create American jobs or invest in America—or do anything good for America or our people.

It is called inversion and it is economic treason.

Now America gets only a tenth of its revenue from corporations. “But it used to get a lot more — a third of revenue came from profits taxes in the early 1950s, a quarter or more well into the 1960s,” notes Krugman.

This corporate INVERSION and economic treason is stealing from American revenue. And Congress needs to stop it.

The irony here is that the Republican Party still believes or says they believe trickle down economics benefits American workers and even workers in other countries.

The other great irony is that we are the richest country in the history of the world with poverty level wages, inadequate healthcare, inadequate healthcare for the veterans we sent to unnecessary wars in Iraq and Afghanistan, and a THIRD OF OUR CHILDREN LIVE IN POVERTY.

Meanwhile we give the fabulously wealthy and corporate persons anything they want.

Please remember that when corporations talk about taxes, they ain’t paying them.

IMAGE: attribution: None Specified Photo source: www.ilsr.org

For Inversion story “Corporate Artful Dodgers” go to: http://www.nytimes.com/2014/07/28/opinion/paul-krugman-tax-avoidance-du-jour-inversion.html?_r=1

For more on this story go to: http://www.dailykos.com/story/2014/08/12/1320958/-Make-Deadbeat-Corporations-Pay#




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