Blog

What Do Jon Stewart, Elizabeth Warren, and Barack Obama Have In Common?

By Dan Smith
Tax and Budget Advocate

It’s been a big week for calling out corporate tax dodgers.

In his State of the Union speech, President Obama called for an economy where “everyone plays by the same set of rules” and where companies can’t avoid taxes by shifting profits overseas. He acknowledged what we’ve been saying for a long time which is that special interests have long played by a different set of rules than the rest of us – ones they’ve helped create, I might add.

That same night, Massachusetts Senate candidate Elizabeth Warren went on the Daily Show and called out 30 corporations that a recent U.S. Public Interest Research Group (U.S. PIRG) and Citizens for Tax Justice study found paid more to lobby Congress than they did in federal income taxes between 2008 and 2010. When Warren told this to John Stewart on the Daily Show, it made the usually unflappable comedian’s jaw drop. 

The special treatment that special interests have won over the years is on full display when it comes to our tax code. While small businesses and ordinary taxpayers pay taxes on the income they earn, companies like GE and Wells Fargo have so deftly manipulated the tax code that they paid no taxes on billions of dollars in profits between 2008 and 2010. In fact, they actually got tax rebates from Uncle Sam on tax day. While it may sound criminal, it’s all perfectly legal.

Most taxpayers can’t employ hoards of tax lawyers to manipulate the tax system or hire an army of lobbyists to craft the tax code in their favor. Warren put it best during her Daily Show interview: “Washington now works for those who can hire an army of lobbyists and an army of lawyers.” The “Dirty Thirty” companies identified by U.S. PIRG and CTJ all told spent nearly half a billion dollars lobbying Congress on tax policy and other issues over the three year period of the study. “They hire those people to make [the tax code] onerous so they can worm their way through,” as Stewart rightly asserted.

Some of the most egregious tax loopholes allow large corporations to stash profits in offshore tax havens to avoid paying federal taxes. Many of the offshore subsidiaries are nothing more than PO boxes. In fact, a single five-story building in the Cayman Islands houses over 18,000 corporations under one roof. At least 22 of the companies among the Dirty Thirty have subsidiaries in offshore tax havens like the Caymans. Tax havens cost America $100 billion a year in lost revenue and it's ordinary taxpayers that end up footing the bill in the form of higher taxes, fewer services, or more debt.

The short term solution is simple: close the loopholes. But to stop corporations from just finding new loopholes, we need to turn back the tidal wave of corporate money that is swamping our elections. As a result of the Supreme Court’s ill-fated decision in the Citizens United case, companies can fill the campaign coffers of electoral candidates directly from their treasuries. For this reason, the lobbying done by these tax dodging corporations should be seen as a cautionary tale. It’s only the tip of the iceberg unless we can reverse the tide of corporate money.

Comments

get viagra started with penis pump http://viagra-pas-cher-moy.cd.st/#srjpo - liste pays cialis vente libre over the counter viagra walgreens http://cialis-achat-securise-qo.ek.la/#ohvxa - acheter lasix en ligne viagra enlarged heart http://commander-cialis-en-france-ho.cd.st/#aygbe - achat viagra france is viagra more effective chewed http://levitra-generique-montreal-pux.ek.la/#vywix - Viagra moins cher En Beziers viagra retail discoun http://prix-du-propecia-au-canada-ge.lo.gs/#ymjzv - viagra achat order prescription viagra

I know your expertise on this. I must say we should have an online discussion on this. Writing only comments will close the discussion straight away! And will restrict the benefits from this information.
http://fb.me/2I8E9Uu9h
http://fb.me/1z6FGBNTX
http://redir.ec/mobilsedancorolla
http://goo.gl/xqhLHF
http://fb.me/32LE7izdi
http://vo.to/ciptojunaedy
http://vo.to/mobilsedancorolla

berita bola

The third time was a charm for Tejay van Garderen. The new Aspen resident won the third annual USA Pro Challenge on Sunday, after finishing second overall last year and third overall in the inaugural race. Greg Aziz

I would also motivate just about every person to save this web page for any favorite assistance to assist posted the appearance.
criminal background

That article was written by Geertjan Wielenga and it will become clear that much of the base code to accomplish this article was extended from Geertjan's example. short term rentals

People and negotiators are so careful nowadays especially if it is a public content and matter. There is no surprise is that; a published material is so tightly concerned with the mortgage business party. Because if there are flaws in the settlement, that means public will make them pay.
http://rosie.besaba.com/alfamart-official-partner-merchandise-piala-duni...
http://maskodoq.blogspot.com/2013/07/CiptoJunaedy.html
http://maskodoq.blogspot.com/2014/03/unit-link-terbaik-di-indonesia.html
http://etnisjawa.blogspot.com/2013/08/apakah-cipto-junaedy-bohong.html
http://rosie.besaba.com/situs-online-terbaik-terpercaya/

Geertjan Wielenga and it will become clear that much of the base code to accomplish this article was extended http://www.zit.pl/

A unique progra usiness idea from conception to reality. Students learn everything from how to estimating the target market of their entrepreneurial ideas to writing pitching business plans. http://www.drewniana9.pl/

berita bola piala dunia 2014 dan lainnya seperti :

Berita terkini hari ini http://goo.gl/FRk4Gm di Liputan6.com
kabar berita bola terbaru http://goo.gl/S7wbR4 hari ini Liputan6.com
berita terkini klasemen liga inggris http://goo.gl/QpkI9S hari ini
berita terbaru liga eropa http://goo.gl/lPZybX hari ini
berita terbaru liga champions http://goo.gl/blNtlN hari ini
berita harian piala dunia 2014 http://goo.gl/RTxx6g hari ini
berita terkini mitra kukar http://goo.gl/k1R2lX hari ini

Outstanding Publish. Hey, people utilized to write great posts, I want to backlinks site the page so I can return here from you that you have done a fantastic job..That's not me usually motivated by educational posts , on the other hand short article genuinely made me ponder your points of views. - http://mesinro.com/

After reading your article I was amazed. I know that you explain it very well. And I hope that other readers will also experience how I feel after reading your article. I feel very grateful that I read this. It is very helpful and very informative and I really learned a lot from it. - Toko Bunga Di Surabaya

Fargo have so deftly manipulated the tax code that they paid no taxes on billions of dollars in profits between 2008 and 2010. In fact, they actually got tax rebates from Uncle Sam on tax day. While it may sound criminal, it’s all perfectly legal. latex kledij

There is a clash of ideas occurring in education right now between those who believe that public education is not only a fundamental right but a vital public service, akin to the public provision of police, fire protection, parks, and public libraries, and those who believe that the private sector is always superior to the public sector.

Every Auctions company has totally different quality standard codes, hence we provide continues training to our staff to keep them familiarized with quality standard codes of each auction, a knowledge that is vital to smart bidding. Interesting post and thanks for sharing. |http://vo.to/IDRCOMAGENTEXASONLINEINDONESIA | http://vo.to/agenbolapromo | http://vo.to/itunetAGENJUDIDOMINOONLINEINDONESIATERPE |

http://www.nutritioneducation101.com When making new spindle design, select the SKF bearing before, first consider the spindle performance parameters, roughly determine the key performance, and then enter the further exploration.

His last position was as senior vice president and general manager of Cisco's Services Routing Technology Group, where he oversaw cloud infrastructure and integrated networking products http://aokmedia.co

http://www.introductiontolaw.org Operating whilst learning postgraduate regulation can be very hard. Luckily, you will find points that can be done to create this simpler that you should function whilst likely to regulation college.

be very hard. Luckily, you will find points that can be done to create this simpler that you should function whilst likely to regulation college Read this page

The new Aspen resident won the third annual USA Pro Challenge on Sunday, after finishing second overall last year and third overall in the inaugural race. free psn codes 2014

http://www.onlinedatastoragesite.com The remote monitoring software is a way that helps you to keep an eye over your employs even when you are not in office. The software is easily available in market and you can purchase them according to your need and requirements.

Really great post, Thank you for sharing This knowledge.Excellently written article, if only all bloggers offered the same level of content as you, the internet would be a much better place. Please keep it up!
model mayhem

Since 2002, the government has mandated that the commercial airlines deliver this information routinely and electronically. soundcloud downloader

Big Blue said it has completed the implementation of PureFlex, WebSphere Application Server, and IBM smarter commerce offering Sterling -- these systems will be live in June for the rollout of Ucan.com. baby furniture plans

which is that special interests have long played by a different set of rules than the rest of us – ones they’ve helped create, I might add. nodular acne

Big Blue said it has completed the implementation of PureFlex, WebSphere Application Server, and IBM smarter commerce offering Sterling -- these systems will be live in June for the rollout of Ucan.com.tedswoodworking review

Thanks for providing recent updates regarding the concern, I look forward to read more Sri Lankan Cooking

Yes, great US Military force. Also, in his post you have given a chance to listen about US Military. I really appreciate your work. Thanks for sharing it. best software

What a great blog, thank you for letting me comment on it. bar hire services

I would also motivate just about every person to save this web page for any favorite assistance to assist posted the appearance. exhibition stands

First You got a great blog .I will be interested in more similar topics. i see you got really very useful topics , i will be always checking your blog thanks. cargame

I will be interested in more similar topics. i see you got really very useful topics , i will be always checking your blog thanks mirena claims

As a Newbie, I am permanently exploring online for articles that can be of assistance to me. Thank you Fort Lauderdale Child Support Lawyer

I agree with your blog and i will be back to check it more in the future so please keep up your work. michael kors outleti love your content & the way that you write.
Buy instagram followers

It was great to see the old printshop and everyone who works there again. I am excited to see a printing business still operating and growing, great job guys
what does bubblegum casting do

Go with the flow. An example of go with the flow would I travel, I like to just go with the flow. I do not make many plans. Go with the flow. vectores

For this reason, the lobbying done by these tax dodging corporations should be seen as a cautionary tale. It’s only the tip of the iceberg unless we can reverse the tide of corporate money.http://www.agsrefrigeration.co.uk/

For this reason, the lobbying done by these tax dodging corporations should be seen as a cautionary tale. It’s only the tip of the iceberg unless we can reverse the tide of corporate money. Liebherr fridge repair

Very informative post! There is a lot of information here that can help any business get started with a successful social networking campaign!
​e Zigarette kaufen

Took me time to read all the comments, but I really enjoyed the article. It proved to be Very helpful to me and I am sure to all the commenters here! It’s always nice when you can not only be informed, but also entertained! buy traffic

Yoga is really a invigorating sort of exercise that's helped huge numbers of people across the Surprise Electrician world acquire comprehensive physical fitness. It may be known as any restorative healing treatments which includes recently been healing men and women considering that a good period of time.

Excellent read, Positive site, where did u come up with the information on this posting?I have read a few of the articles on your website now, and I really like your style. Thanks a million and please keep up the effective work. http://www.zibjl.com/short-layered-hairstyles-for-women-with-something-a...

Excellent read, Positive site, where did u come up with the information on this posting?I have read a few of the articles on your website now, and I really like your style. Thanks a million and please keep up the effective work http://ytlikes.com

Mmm.. good to be here in your article or post, whatever, I think I should also work hard for my own website like I see some good and updated working in your site. kontorimööbel

solution is simple: close the loopholes. But to stop corporations from just finding new loopholes, we need to turn back the tidal pregnancy miracle

It was great to see the old printshop and everyone who works there again. I am excited to see a printing business still operating and growing, great job guys
http://www.mattressforadjustablebed.websiteworks.com/

You are allowed to post names, but not links, unless they are approved and on topic. Manchas na Pele

Priority Action

Tell your elected officials: Please protect my right to know, and support GMO labeling.

Support Us

Your donation supports U.S. PIRG’s work to stand up for consumers on the issues that matter, especially when powerful interests are blocking progress.

Consumer Alerts

Join our network and stay up to date on our campaigns, get important consumer updates and take action on critical issues.