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How 12 Multinational Corporations Avoid Paying Taxes

A new report shows how some of the world's biggest companies pay nothing to the IRS through lobbying and loopholes.

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Clearly, the moral of this story is that these corporations are not sneaking around the government, slithering through back alleys in order to avoid paying taxes. They are essentially lobbying our government – individuals we elected – into submission, tipping the tax brackets in their favor on the backs of average, everyday Americans. Congress wants to make huge budget cuts in social programs that help us in myriad ways, and yet many of the same politicians would rather punish the poor than make corporations pay their fair share. As PC points out:

Elected officials across the political spectrum are talking about the need for shared sacrifice to reduce our deficit. Both Budget Committee Chairman Paul Ryan (R-Wisc.) and President Obama have talked about getting rid of special interest tax loopholes. But, talk doesn’t equal action. And it’s not going to happen as long as well-heeled companies like G.E. or Chevron are able to use millions in lobbying and campaign contributions to advocate for the creation of loopholes and tax breaks, and against their closure. Reforming our tax code won’t happen when every line in it has a special interest that will push back against any increase.

The proposed budget looks a little different to you now, doesn’t it? Read the full report at Public Campaign.

Julianne Escobedo Shepherd is an associate editor at AlterNet and a Brooklyn-based freelance writer and editor. Formerly the executive editor of The FADER, her work has appeared in VIBE, SPIN, New York Times and various other magazines and Web sites.

 
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