corporate tax loopholes
If you think the pharmaceutical industry has stolen all it can from the American people through its price gouging, think again. Even as they're pricing medications as high as the market can bear and beyond, drug corporations are getting big taxpayer subsidies and then dodging taxes on the resulting huge profits.
There's a pile of money hiding offshore. The stunning amount that continues to flow across American borders (and those of other countries), and eventually disappears into the pockets of the corporate and political elite, ultimately causes even more damage to our finances and our lives.
Might U.K., U.S. Exhibit Leadership in Addressing State Capture and Legal (as Well as Illegal) Corruption?
Transparency can be one game changer, especially if it addresses the channels of influence through which policy becomes "privatized
Corporate tax lawyers, beware! The Obama administration is making it likely that you will be working overtime in the near future.
This holiday season, Congress can continue giving tax breaks to the wealthy or stand with working families. Our nation has the resources to do better, we just need to help our lawmakers get their priorities straight.
A strangely popular proposal would give companies a temporary tax holiday, letting corporations "repatriate" their money at an extremely low tax rate, thereby encouraging more corporate tax dodging in the future. You'd think that common sense and strong opposition would be enough to kill a bad policy. Not in Washington, D.C., apparently.
Another year has come and gone, and 2015 presents an opportunity to start fresh. With that in mind, it's time for the newly minted 114th Congress to make the right choices for the public's interest in its New Year's resolutions, and making the tax code fairer is a good place to start.
Instead of making a "deal" on deferment and letting the corporations just keep this money they owe us, let's fix this loophole and give most of this tax money to the 242 million adult U.S. residents. What's left over (and there might be a lot -- as much as $215 billion) can be used to fix our infrastructure and other priorities.
Some work has been done recently to address tax loopholes for large corporations, such as the notorious corporate tax inversions, which put small businesses at a disadvantage, but more needs to be done to help level the playing field for small businesses.
1. Companies will do kind-of-stupid things just to dodge taxes. Companies will often borrow a bunch of money today to buy
By massaging down U.S. taxable profits while maximizing the profits it reports in low-tax jurisdictions overseas, Burger
Camp, who chairs the House committee responsible for making tax policy, also said in a statement to Bloomberg that a firm
The preferential treatment of capital gains and dividend income is a huge benefit to the 0.1%. On the other hand, the burden of corporate taxes is likely borne more widely. The current system penalizes smaller "patriotic" companies and benefits large multinationals.
But a lot has changed since March, with such inversion deals increasingly facing public scorn. Inversions have lately become
Can someone realistically forego getting a prescription filled because it's made by a bad corporate citizen? Probably not. Only Congress and the Obama administration can truly stop corporate inversions.
Walgreen took a month of public drubbing while it mulled a move to Switzerland. Calls for a national boycott proliferated
It's the corporate tax loophole that could be costing you billions. American companies are quietly changing their paperwork