President Obama, US Congress & the
US Senate can fix the unemployment & economy just by offering TAX
breaks to all US based multinational organizations that had to move
their organizations to other countries to save US Taxes. The reality
is hitting worldwide and EU members started the crack down and are
now changing their TAX laws to charge higher taxes to these
multinational organizations – US can take advantage of the
situation and offer same TAX break which must gradually end over
some period but organization will be required to create employment,
invest in educational sponsorships. This fixes the economy, jobs &
education and the dysfunctional broken US government! Its not a
democratic or republican problem its an American Problem !!
Key Facts
Tax avoidance through offshore tax
loopholes is a significant reason why
corporations, which paid
one-third of
federal revenues 60 years ago, now pay
one-tenth of
federal revenues.
U.S. corporations dodge $90 billion a
year in
income taxes by shifting profits
to subsidiaries—often no more
than a
post office box—in tax havens.
U.S. corporations hold $2.1 trillion in
profits offshore – much in tax havens –
that have not been taxed
in the U.S.
General Electric, which uses a loophole
for offshore
financial profits, earned
$27.5 billion in profits from 2008 to
2012 but claimed tax refunds of $3.1
billion.
Apple made $74 billion from 2009-2012
on worldwide sales (excluding the
Americas) and paid almost nothing
in
taxes to any country.
26 profitable Fortune 500 firms paid no
federal income taxes from 2008-2012.
111 large, profitable
corporations paid
zero federal income taxes in at least one
of
those five years.
No comments:
Post a Comment