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Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region Forums“Believe It or Not!”13 Mindblowing Facts About America’s Tax-Dodging Corporations
http://www.commondreams.org/view/2013/06/29A judicious writer avoids adjectives like mindblowing, especially when covering political or economic issues. But no other word seems to describe the stunning reality of corporate taxation in modern America, which cries out for the italics-heavy, exclamation-point-driven format made famous by Ripleys Believe It or Not.
Stylistic overkill? Read these thirteen facts and you may change your mind.
1. Were told we cant afford full Social Security benefits, even though closing corporate tax-haven loopholes would pay for Obamas chained CPI benefit cut more than ten times over!
Abusive offshore tax havens cost the US $150 billion in lost tax revenue every year (via FACT Coalition). Thats $1.5 trillion over the next ten years.
The chained CPI cut, proposed by President Obama and supported by Republicans, is projected to save a total of $122 billion to $130 billion over the same time period by denying benefits to seniors and disabled people.
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“Believe It or Not!”13 Mindblowing Facts About America’s Tax-Dodging Corporations (Original Post)
xchrom
Jun 2013
OP
Meanwhile, the USA is the only country except for Eritrea that taxes its citizen's income...
Democracyinkind
Jun 2013
#1
Democracyinkind
(4,015 posts)1. Meanwhile, the USA is the only country except for Eritrea that taxes its citizen's income...
...regardless of place of actual residence...
PSPS
(13,613 posts)2. This is a flawed article
You can tell just from "1:"
1. Were told we cant afford full Social Security benefits, even though closing corporate tax-haven loopholes would pay for Obamas chained CPI benefit cut more than ten times over!
Abusive offshore tax havens cost the US $150 billion in lost tax revenue every year (via FACT Coalition). Thats $1.5 trillion over the next ten years.
The chained CPI cut, proposed by President Obama and supported by Republicans, is projected to save a total of $122 billion to $130 billion over the same time period by denying benefits to seniors and disabled people.
Income taxes, whether personal or corporate, have never been part of Social Security's funding. Social Security funds itself through FICA.
CrispyQ
(36,501 posts)3. Well that'll piss you off, major.
This:
These organizations are using the heads of failed banks people like Chases Jamie Dimon and Lloyd Blankfein of Goldman Sachs to dispense advice on the economy. Thats like getting navigation tips from the captain of the Exxon Valdez.
(Tax breaks for Exxon Mobil: $4.1 billion between 2008 and 2010. The company paid no taxes at all in 2009.)
These executives and their paid spokespeople tell the rest of us we need to sacrifice and tighten our belts so that their party can go on forever. And too often theyre treated as credible sources, rather than as corrupting influences on our public life.
(Tax breaks for Exxon Mobil: $4.1 billion between 2008 and 2010. The company paid no taxes at all in 2009.)
These executives and their paid spokespeople tell the rest of us we need to sacrifice and tighten our belts so that their party can go on forever. And too often theyre treated as credible sources, rather than as corrupting influences on our public life.