Posts Tagged ‘taxes’

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Most Voters Disagree With Trump on Just About Everything

 

 

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Do you actually know what Libertarians want to do?

 

 

 

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Tax breaks for the super rich, courtesy of the rest of us.

 

 

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CNN: ‘Scandinavian Dream’ is true fix for America’s income inequality
  • Clamp down on Wall Street and require certain asset managers to disclose their holdings, returns and fees.
  • Enact a transaction tax to reduce short-term trading and encourage long-term investment.
  • Require companies to provide more information about their CEO’s pay relative to performance and workers’ earnings.
  • Raise taxes on capital gains and dividends.
  • Tax corporations on global income.

And to promote growth among the middle class, Stiglitz suggests that the U.S.:

  • Invest in infrastructure for long-term economic and job growth.
  • Strengthen workers’ bargaining rights.
  • Raise the minimum wage to reflect local economic conditions. (Many cities and metro areas could justify $15 an hour.)
  • Invest in young children through early education.
  • Require universal paid sick and family leave.

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These nickels and dimes add up. Can anyone look at that number and just go on with their lives of servitude without comment?

$8,500,000,000,000

Missing. Stolen. Unaccounted. Disappeared. Gone.

$8.5 Trillion Unaccounted for, Why Should Congress Increase the Defense Budget?

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This is business as usual. This is what’s allowed by those in charge in Washington. You should be angry today.

Corporate Tax Havens Stiff Taxpayers by $110B A Year

Last year alone, the U.S. Treasury and state governments lost roughly $110 billion in tax revenues after major corporations funneled their cash through accounts in the Cayman Islands, Bermuda and other offshore tax havens, according to figures compiled by the U.S. Public Interest Research Group (PIRG).

Related: 15 Fortune 500 Companies Paid No Federal Income Taxes in 2014

Under current law, U.S. corporations are allowed to defer or delay paying federal income taxes on overseas profits to avoid a federal corporate tax rate of as much as 35 percent until this money is “repatriated” or brought back into the United States.

At least 362 companies, making up 72 percent of the Fortune 500, maintained subsidiaries in tax haven jurisdictions as of 2013.

Among the biggest beneficiaries, according to the PIRG analysis:

  • Pfizer, the world’s largest drug manufacturer, paid no U.S. income taxes between 2010 and 2012 despite earning $43 billion throughout the globe. Pfizer actually received more than $2 billion in federal tax refunds.

  • Microsoft maintains five tax haven subsidies and kept $92.9 billion overseas in 2014. By taking advantage of the federal tax law, Microsoft averted an additional $29.6 billion in taxes.

  • Citigroup stashed $43.8 billion in offshore jurisdictions in 2014, saving itself $11.6 billion of additional taxes.

3 Economic Myths Busted

Posted: April 7, 2015 in -
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