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.
Here's a riddle for you: What do Donald Trump and Hillary Clinton have in common? And no, it's not that if Donald Trump were a woman he'd garner less than 5% of the vote.
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.
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.
The long-term deterioration of the middle class, accelerated by the Wall Street crash of 2008, has not been pretty. Today, we have more wealth and income inequality than any major country on earth.
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.