How Do Multi-Billion Dollar Corporations Avoid Paying Taxes

The following 3 minute video will show you how just 4 of these multi-billion dollar companies get way with not paying their “fair share” of taxes.  And in some cases, they get tax refunds.

Should we be upset with these corporations? Of course!  But we should be outraged at our government for letting them get away with it.

According to Wikipedia:

  • Tax evasion is the illegal evasion of taxes by individuals, corporations and trusts.
  • Tax avoidance is the legal use of tax laws to reduce one’s tax burden.
  • Both tax evasion and avoidance can be viewed as forms of Tax Non-Compliance, as they describe a range of activities that intend to subvert a state’s tax system.
  • When taxpayers try to find loopholes with the intention to pay less tax, even if technically legal, their actions may be against the spirit of the law and in this sense considered non-compliant.

Over $2 trillion in U.S. corporate profits are parked offshore, to avoid paying taxes in the U.S., while law-abiding, taxpaying citizens work hard to pay their “fair share.” What’s the justice in this?

Former Labor Secretary Robert Reich said it best when he said that lost tax revenue has to be made up by you and me and every other taxpayer who can’t afford high-flying attorneys and accountants to shift our income into places with low taxes.”

Instead of paying taxes, they pay lawyers and lobbyists to help them get even more and better tax breaks. If the government starts talking about raising the corporate tax rates, they only complain about how the U.S. has the highest tax rate and then threaten to move their business overseas where the tax rates are more favorable.

How can they be more favorable than zero percent (0%).  I say okay, let them move overseas, but they should be banned from doing business in the U.S. and excluded from participating in any government contracts.

To these multi-billion dollar companies it’s all about profits, and paying less taxes helps them achieve higher profits.

To everyone else it’s all about GREED.

Greedy by samgrittercom

 

Former Republican and a Military Veteran Speaks Out Against the GOP

A former Republican finally saw the obstructionist GOP for what they really are – and calls them out for it…

Re-Posted from Democratic Underground | by Babylonsister

“I am a former Republican and a military veteran.”

<< snip >>

They failed in keeping Obama limited to one term but, even with this loss, the GOP has kept their second promise. They have done absolutely NOTHING to help the struggling American economy nor it’s struggling people in well over six and a half years and we pay them millions in salary and benefits for their inadequacy and lack of work product! The rest of us would have been fired long ago if we produced absolutely zero for those who pay our salaries! It is just remarkable what this president has accomplished, what with the obsessive obstacles purposefully thrown in his path. Imagine what could have been accomplished if those elected, on the Right, actually worked with this president!

Click the link below for the full posting:

http://www.democraticunderground.com/10027011022

 

Pope Francis Criticizes Capitalism

Pope Francis appealed to world leaders on Saturday to seek a new economic model to help the poor, and to shun policies that “sacrifice human lives on the altar of money and profit.”

PopeExcerpts from the Pope’s speech…

Quoting a fourth century bishop, he called the unfettered pursuit of money “the dung of the devil,” and said poor countries should not be reduced to being providers of raw material and cheap labor for developed countries.

He said he supported their efforts to obtain “so elementary and undeniably necessary a right as that of the three “L’s”: land, lodging and labor.”

“Let us not be afraid to say it: we want change, real change, structural change,” the pope said, decrying a system that “has imposed the mentality of profit at any price, with no concern for social exclusion or the destruction of nature.”

“This system is by now intolerable: farm workers find it intolerable, laborers find it intolerable, communities find it intolerable, peoples find it intolerable … The earth itself – our sister, Mother Earth, as Saint Francis would say – also finds it intolerable,” he said in an hour-long speech that was interrupted by applause and cheering dozens of times.

“No actual or established power has the right to deprive peoples of the full exercise of their sovereignty. Whenever they do so, we see the rise of new forms of colonialism which seriously prejudice the possibility of peace and justice,” he said.

“The new colonialism takes on different faces. At times it appears as the anonymous influence of mammon: corporations, loan agencies, certain ‘free trade’ treaties, and the imposition of measures of ‘austerity’ which always tighten the belt of workers and the poor,” he said.

Francis’ previous attacks on capitalism have prompted stiff criticism from politicians and commentators in the United States. Could it be because the United States is at the top of the heap when it comes to extreme capitalism and our worship at the altar of money and profit. The Pope’s visit to the United States in September should be very interesting.

Source:  Reuters