Ending the Global "Race to the Bottom"

Ayn Rand USA: In 20 Years Corporate Profits Are Up 4X and Their Taxes Have Fallen by 50% -- Meanwhile the Workers' Payroll Tax Has Doubled | Alternet

Ayn Rand USA: In 20 Years Corporate Profits Are Up 4X and Their Taxes Have Fallen by 50% -- Meanwhile the Workers' Payroll Tax Has Doubled | Alternet
"Ayn Rand's philosophy suggests that average working people are 'takers.' In reality, those in the best position to make money take all they can get, with no scruples about their working class victims, because  taking, in the minds of the rich, serves as a model for success. The strategy involves tax avoidance, in numerous forms."

7 Financial Facts That Will Blow Your Mind | Alternet

7 Financial Facts That Will Blow Your Mind | Alternet
"What does it cost to kick the bucket? What's the best tax scam if you want to avoid jail? Here are a few financial facts that may surprise you."

Corporate Tax Dodgers: 10 Companies and Their Tax Loopholes | Common Dreams

Corporate Tax Dodgers: 10 Companies and Their Tax Loopholes | Common Dreams
"In making their case, corporate executives decry the U.S.’s 35% corporate tax rate claiming it is the highest in the world and makes their businesses uncompetitive globally. The evidence suggests otherwise.
Corporate profits are at a 60-year high, while corporate taxes are near a 60-year low"

How America's Corporate Overlords Cheat and Screw Us on Taxes | Alternet

How America's Corporate Overlords Cheat and Screw Us on Taxes | Alternet
"They make much of their revenue in the U.S., but claim billions of dollars in foreign profits and billions of dollars in U.S. losses, thereby evading their tax duty."

Ten Ways the Wealthy Dodge Taxes

Ten Ways the Wealthy Dodge Taxes
"Have you read about the billionaire who pays a lower income tax rate than his secretary and gives advice for how much income tax other people ought to pay? You might want to ask: “How does he do it? ”

We don’t know the complete answer to that question. No doubt, only his army of tax advisers does. What we’d instead like to share are 10 ways the current tax code allows the rich to accumulate vast fortunes, subject to little or no tax. And, unlike the offshore account tax fraud that gets so much press and regulatory attention, many of the most egregious tax avoidance scams are perfectly legal."

Tax Dodging By Corporations And The Wealthy Cost Each Taxpayer $1,026 In 2012

Tax Dodging By Corporations And The Wealthy Cost Each Taxpayer $1,026 In 2012: America’s largest corporations have stashed nearly $1.5 trillion in offshore tax havens like Bermuda, the Cayman Islands, and Ireland — countries where they do little business but claim massive profits due to low tax rates. As a result, corporate tax rates fell to a 40-year low in 2011 even as profits rose to a 60-year [...]/p

Exposed: A Global Offshore Money Matrix - Truthdig

Exposed: A Global Offshore Money Matrix - Truthdig
"A cache of 2.5 million secret files offers the chance to peer behind the curtain of the world’s offshore money market, detailing the involvement of more than 120,000 companies and trusts, and politicians, con men and scores of the mega-rich."

Transplanting Taxes from Corporations to the Rest of Us | Common Dreams

Transplanting Taxes from Corporations to the Rest of Us | Common Dreams
"Today, corporate profits are setting all-time records while middle class families continue to struggle financially. These trends are intertwined."

16 Giant Corporations That Have Basically Stopped Paying Taxes -- While Also Cutting Jobs! | Alternet

16 Giant Corporations That Have Basically Stopped Paying Taxes -- While Also Cutting Jobs! | Alternet
"Corporations have simply stopped paying their taxes, perhaps using the 2008 recession as an excuse to plead hardship, but then never restoring their tax obligations when business got better. The facts are indisputable. For over 20 years, from 1987 to 2008, corporations paid an average of 22.5% in federal taxes. Since the recession, this has  dropped to 10% -- even though their profits have doubled in less than ten years."

March Madness: The 5th Straight Year of Extreme Corporate Tax Avoidance | Common Dreams

March Madness: The 5th Straight Year of Extreme Corporate Tax Avoidance | Common Dreams
"Corporations have simply stopped paying their taxes, perhaps using the 2008 recession as an excuse to plead hardship, but then never restoring their tax obligations when business got better. The facts are indisputable. For over 20 years, from 1987 to 2008, corporations paid an average of 22.5% in federal taxes. Since the recession, this has dropped to 10% -- even though their profits have doubled in less than ten years."

Once Upon a Time, Corporations Paid Taxes

Once Upon a Time, Corporations Paid Taxes
"The end result of this looting: an America where corporate profits are setting records while typical workers, as former U.S. labor secretary Robert Reich points out, are making less today, in real dollars, than they earned a dozen years ago."

Reports: US 'Corporate Tax Dodgers' Keeping More Money Overseas | Common Dreams

Reports: US 'Corporate Tax Dodgers' Keeping More Money Overseas | Common Dreams
"At a time of record corporate profits, U.S. "corporate tax dodgers" are parking more of their profits offshore, taking advantage of tax loopholes to shield billions from U.S. taxes, according to new analyses in the Wall Street Journal and Bloomberg."

Awash In Record Profits, Corporations Shift Even More To Offshore Tax Havens

Awash In Record Profits, Corporations Shift Even More To Offshore Tax Havens: Even as American corporations are raking in record profits, the largest among them are shifting larger amounts of money away from the United States and into offshore tax havens that allow them to pad their bottom lines even more, according to multiple analyses of legal filings made since the beginning of 2013. The Wall Street [...]/p

New Report By U.S. PIRG Targets Cash Stashed Overseas

New Report By U.S. PIRG Targets Cash Stashed Overseas
"In our new report on Fix the Debt, CMD reveals that part of the Fix the Debt's hidden corporate agenda is to push for new tax loopholes that would actually add to the deficit. Specifically, many Fix the Debt firms want to exempt money made offshore from taxation in the United States. Opening this new loophole would cost the Treasury some $1 trillion over 10 years according to Citizens for Tax Justice."

A Choice For Corporate America: Are You With America, Or The Cayman Islands

A Choice For Corporate America: Are You With America, Or The Cayman Islands
"Here's the simple truth. You can't be an American company only when you want a massive bailout from the American people. You have also got to be an American company, and pay your fair share of taxes, as we struggle with the deficit and adequate funding for the needs of the American people. If Wall Street and corporate America don't agree, the next time they need a bailout let them go to the Cayman Islands, let them go to Bermuda, let them go to the Bahamas and let them ask those countries for corporate welfare."

A Choice For Corporate America: Are You With America Or The Cayman Islands | Common Dreams

A Choice For Corporate America: Are You With America Or The Cayman Islands | Common Dreams
"Here's the simple truth. You can't be an American company only when you want a massive bailout from the American people. You have also got to be an American company, and pay your fair share of taxes, as we struggle with the deficit and adequate funding for the needs of the American people. If Wall Street and corporate America don't agree, the next time they need a bailout let them go to the Cayman Islands, let them go to Bermuda, let them go to the Bahamas and let them ask those countries for corporate welfare."

End Offshore Tax Havens

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Senator Bernie Sanders Talks Corporate Tax Cheats And Discusses The Corporate Tax Fairness Act

Senator Introduces Bill To End Huge Corporate Tax Giveaway

Senator Introduces Bill To End Huge Corporate Tax Giveaway: Corporations offshoring profits costs both the federal government and states billions of dollars per year. One of the more egregious giveaways is known as “deferral,” which allows U.S. corporations to avoid paying taxes on overseas profits until they bring that money back to the U.S., giving them every incentive to leave it overseas permanently. According [...]/p