"Words that make actions speak louder."
Sen. Sheldon Whitehouse has released a “tax fairness plan” that would ensure that people with multimillion-dollar incomes pay their fair share in taxes. Meanwhile, conservatives cling to their tax-cuts-for-corporations agenda.
House Republicans start the new Congress by declaring that tax cuts defy gravity and that future disability payments should be held hostage to set the stage for Social Security cuts.
State and local tax breaks are exploited by wealthy corporations, propping up businesses that generate massive wealth for CEOs and shareholders while keeping wages and benefits down for rank-and-file workers.
The major tax break that was about to be left off the “make permanent” list in the “tax extenders” bill President Obama threatened to veto last week – the Earned Income Tax Credit – disproportionately benefits rural families.
Walmart avoids paying on average $1 billion a year in federal taxes through aggressively exploiting tax loopholes, according to a report released today by Americans for Tax Fairness.
It pays to remember the work Congress is not doing to ensure corporations pay their fair share of taxes. Some of the consequences are laid out in a report on CEO compensation and corporate taxes released today.
An Illinois company is considering a combination with the French corporation that is the home of Dannon yogurt in the latest example of a corporate “inversion” designed to lower its U.S. tax bill.
Ingersoll-Rand, which changed its corporate address to Bermuda to avoid American corporate taxes, is one of at least a dozen such companies that together get more than $1 billion in federal contract dollars annually.
Fortune lists companies that “sure seem American—except when it comes to paying taxes” and publishes a denunciation of an “exceptionalism” that enables companies to avoid taxes but benefit from being American.
Just as the White House was registering its opposition to a corporate tax holiday for companies that are sheltering profits overseas, a House Democrat was selling the proposal in a campaign ad.