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corporate dominance | government

The Steep Cost of Tax Dodging

Supports to a bridge crumble in Iowa City, Iowa, in a photo taken on September 15, 2014. The long-deteriorating infrastructure of the United States is repaired and maintained with tax funds, much of which are currently being withheld in offshore accounts by large corporations long-overdue in paying their share.
to read Jasmine Tucker's article published on April 18, 2016 on truth-out.org, click on

 http://www.truth-out.org/opinion/item/35679-the-steep-cost-of-tax-dodging

While the Treasury targeting inversions is a start, the burden is on lawmakers to pass legislation to close loopholes and prevent corporations and the wealthy from dodging their US tax responsibilities for good.

President Obama has already called on Congress to adopt policies that would eliminate tax breaks and loopholes for the wealthy and corporations. But given the increasingly polarized and gridlocked Congress, can lawmakers come together to find common-sense solutions to this incredibly pervasive problem?

Tax dodging is just one symptom of a larger issue: a severely broken tax code. Though lawmakers spend an incredible amount of time bickering over how to spend federal dollars, they pay virtually no attention to how those dollars come in. Smart budgeting means not only focusing on stretching dollars as far as they can go, but also creating revenue streams that pay for the investments the nation desperately needs.

One thing is clear: Corporations and the wealthy dodging their taxes means less money to spend on things people in the United States want and need. The tax code hasn't been working for a long time -- it's time for lawmakers to make a change.

homepage: homepage: http://www.freembtranslations.net
address: address: www.onthecommons.org


Republicans put us on the path to ruin! 19.Apr.2016 14:11

marc

Yesterday on April 18 Tax Day, I watched (on CSpan ch 24) two gentle women - one from Ohio and the other the representative from Houston - condemn the republicans for not passing the budget on the 15th, for not doing their job and turning their backs on the people of Flint, Houston and the nation.

The republicans are a party of crisis where we go from crisis to crisis. Now we are on the path to ruin. Without the Congressional Black Caucus, the whole country would probably be asleep by now!

http://www.therealnews.com
www.submedia.tv

marc 21.Apr.2016 11:33

.i.

It has little to do specifically with any political party in the US.

nobody wants to pay more than they have to in taxes. Its apparent on this website where people are trying to set up bartering / co-ops, etc.

Europeans have a lot of social programs but also sophisticated enough to realize that some rich guy on a hill is not going be their reluctant sugar daddy and buy them candy and toys. Europeans realize that if you want something worth having you, YOU, YES YOU have to be willing to pay for it.

Granted the rich in Europe get taxed at a much higher rate than in the US, but that is also true of middle class and poor people too. Some Americans are looking up the chimney for Bernie Sander-Claus with a bag full of free stuff. Its not going to happen, and it will never happen until we as a country decide we want to buy something good with OUR tax money.

Its time to grow up and face facts. Worried about Income inequality? Start by changing your major from Feminist Dance therapy to Electrical Engineering, then you can earn enough to pay your fair share of taxes.