Corporate Tax Evaders and Job Destroyers
February 2, 2012 Leave a comment
It starts off at a local coffee shop while listening to ‘Democracy Now’ and speaking to a woman who works for Apple, Inc. While speaking with this woman about Tax Loop Holes for Corporations which included Apple, Inc. thats where I had to stop the conversation and I asked her for her email address so I could confirm what I have learned.
I use Apple products and I have heard about Foxconn, Inc. and its foreign labor abuse which Apple, Microsoft and other corporations are affiliated with. Fortunately Apple signed with the International Labor Treaty Union and stated it will have a ‘Third Party’ organization keep an eye on Foxconn, Inc. for Labor abuse. That is another story, “In China, Human Costs Are Built Into an iPad”By CHARLES DUHIGG and DAVID BARBOZA
Published: January 25, 2012″.
Now its about Apple Inc.’s Tax Dodging. I feel strongly how the Middle class are taking the brunt of taxation and that Taxation is not fair to all, hence this search for the Truth about Corporate ‘Tax Holidays’, ‘Job Creation Act of 2004’ and Carl Levin’s (D-Michigan) ‘Stop Tax Haven Abuse Act (Senate Bill 1346)’.
I can not say it any better than Chuck Collins, Senior scholar, Institute for Policy Studies, Uncle Sam Should Support Built-to-Last Companies, not Built-to-Loot Enterprises
“A powerful coalition of U.S.-based global companies is lobbying hard for a “tax holiday” on offshore profits.
Companies like Google, Apple, Pfizer, and General Electric have parked huge amounts of profits — a stash totaling more than $1.4 trillion –in offshore tax havens. They’ve stowed those funds abroad primarily to avoid having to pay federal taxes on that income.
But now they want to bring their treasure to the United States, albeit at a steep discount on what they owe the IRS. Instead of paying the statutory corporate income tax rate of 35 percent — or even the “effective rate,” which for most global companies, is closer to 11 percent — they’re urging Congress to let them do this at a tax rate that’s a whisker over 5 percent.”
There is another article link, “Forbes: 29 Companies That Paid Millions For Lobbying (And Didn’t Pay Taxes)” by Citizens for Tax Justice and “Chris Barth, Forbes Staff states,
“Thirty large U.S. corporations paid more money to Congressional lobbyists than they paid in taxes from 2008-2010, according to a new report from Public Campaign, a purportedly non-partisan corporate watchdog organization that seeks to reduce the influence of big companies in politics. The report names 30 profitable companies (only one of which paid federal corporate taxes during the period analyzed), with lobbying expenditures ranging from $710,000 to $84.4 million.”
Recently an updated article ‘America Loses: Corporations That Take “Tax Holidays” Slash Jobs
By Sarah Anderson, John Cavanagh, Chuck Collins, Scott Klinger, Sam Pizzigati, are basically alerting US citizens about “WIN America” campaign which is similar to the “Job Creation Act of 2004” and how Jobs were not created, Corporate Offshore Income is lowered and the Corporate Shareholders and CEO’s are rewarded at the expense and/or burden on the US Middle class.
As stated in the article, “There is a dangerous myth at the center of the jobs debate that rages across our country: Corporate tax cuts create jobs.
With 25 million Americans looking for fulltime work, and nearly one in six Americans relying on federal food assistance, some of America’s most flush corporations are demanding a “one-time” corporate tax holiday on their more than $1.4 trillion in profits now sitting offshore.”
Its not about creating jobs, its about maximizing profits for their shareholders and CEO’s. What are the solutions? It seems that ‘US UNCUT’ is an anti-tax dodging movement. They are bringing awareness, education and engaging in making a FAIR TAXATION to all. As stated in US UNCUT website’s in the FAQ …
“Question: What is US Uncut?
Answer: US Uncut is an anti–tax dodging movement. According to the group, they are “about taking action against unnecessary and unfair cuts to public services across the US.” They believe the country isn’t broke, but rather the elite and wealthy are permitted to play by a different set of rules that permits them to shelter their revenue in foreign tax havens and skirt other taxes.”
For those who are not into ‘Popular Movements’ then what about the ‘Traditional Congressional Bills’? On Carl Levin’s (D-Senator, Michigan) website has the following, “Summary of the Stop Tax Haven Abuse Act of 2011”. This is a summary of the ‘Stop Tax Haven Abuse Act, S.B. 1346’. Read a press release about the bill here. The above link has ‘Access the bill as introduced’ and ‘Read Levin’s floor statement on the introduction of the bill’.
And those who just want to volunteer? Citizens for Tax Justice’s (CTJ) Mission, “CTJ’s mission is to give ordinary people a greater voice in the development of tax laws. Against the armies of special interest lobbyists for corporations and the wealthy, CTJ fights for:
* Fair taxes for middle and low-income families
* Requiring the wealthy to pay their fair share
* Closing corporate tax loopholes
* Adequately funding important government services
* Reducing the federal debt
* Taxation that minimizes distortion of economic markets
I am so thankful to those who do the hard work in making us more aware of the issues that need to be brought up with our friends, family, community members and leaders. I hope this short research article will help you become aware and help you understand what corporations are doing to the people’s future of this country and that is to ‘Our Children’s Future’.