13 Mindblowing Facts About America's Tax-Dodging Corporations
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Here's what that really means: The domestic tax credit for creating jobs? Gone. Tax breaks for protecting the environment with clean energy, rather than harming other people's health and leaving a mess for the rest of us to clean up? Gone.
All in all we'd lose dozens of important policies that make our lives better, while permanently fixing corporate taxes at today's cushy giveaway rates.
"Reform"? Ripoff is more like it.
13. Despite their greed, mismanagement, and freeloading, tax-dodging corporations are using shell organizations like "Fix the Debt" and "the Committee for a Responsible Federal Budget" to tell ordinary Americans they have to sacrifice even more to preserve corporate wealth!
These organizations are using the heads of failed banks - people like Chase's Jamie Dimon and Lloyd Blankfein of Goldman Sachs - to dispense "advice on the economy." That's 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 they're treated as credible sources, rather than as corrupting influences on our public life.
It's all true - and there are many more astonishing facts to be found in the world of corporate taxation. To fix the economy more people will need to learn about them - and demand that they be changed.
The writer and analyst in me wants to apologize for all the italicizing and all those exclamation points. But the American citizen in me wants to shout the truth out for all the world to hear - believe it or not!