Corporate tax rates used to top out at 52.8 percent. They are now 35 percent. Now they want rates lowered even more. But are corporate tax rates really "uncompetitive?" And what does that even mean?
Big news: Walgreens will not “invert” to become a Swiss company to avoid U.S. taxes. This is a victory for a powerful alliance of citizen groups under the banner of Americans for Tax Fairness. Now let's reform corporate taxes.
Walgreens has announced that it won't do an "inversion" that will enable it to cut its corporate taxes by renouncing its U.S. citizenship. But we still need to deter other companies from going that route.
If you get a speeding ticket, do you get to deduct the fine from the income tax you owe? Then why should JPMorgan Chase be able to deduct from its taxes a $20 billion fine for wrongdoing as a cost of doing business?
An Illinois company is considering a combination with the French corporation that is the home of Dannon yogurt in the latest example of a corporate "inversion" designed to lower its U.S. tax bill.
Their headquarters, executives, operations, employees, customers and everything else stay here. They still use our courts and roads, etc. The only thing that changes is the taxes they pay.
At a Senate Finance Committee hearing this week, the committee chairman and a panel of witnesses were united in supporting immediate action to combat "inversions," an increasingly used tax-avoidance tactic.
How does it feel to be the CEO of a “defector corporation”? Do such executives face the opprobrium of society as they enjoy the fruits of this land that has given them so much? So far, apparently not. But that may be changing.
Here are five companies – only a handful of the total – that have or are trying to renounce their U.S. citizenship to avoid paying taxes to help cover the benefits they receive.
Corporations that “invert” park their assets, staff and sales in the U.S. But with their sham overseas addresses, they won’t pay taxes on foreign income to the country that protects them.
When these companies and the billionaires behind them don't pay their taxes, guess who has to make up the difference — or suffer the cutbacks in the things government does to make our lives better?
The idea is to tax corporations based on where sales are made, not where profits are reported. If a company has 50 percent of its sales in the U.S., the U.S. would tax 50 percent of its worldwide profits.
Walgreens receives a quarter of its revenue from health care programs funded by U.S. taxpayers, but is considering renouncing its U.S. "citizenship" to avoid paying taxes for the U.S. services it uses and customers it gets.
Ingersoll-Rand, which changed its corporate address to Bermuda to avoid American corporate taxes, is one of at least a dozen such companies that together get more than $1 billion in federal contract dollars annually.
Fortune lists companies that "sure seem American—except when it comes to paying taxes" and publishes a denunciation of an "exceptionalism" that enables companies to avoid taxes but benefit from being American.
Just as the White House was registering its opposition to a corporate tax holiday for companies that are sheltering profits overseas, a House Democrat was selling the proposal in a campaign ad.
Medtronic is as American a company as they come. But if Medtronic’s management has its way, the company will soon become Irish. Why? Because everybody evades their taxes nowadays.
Corporations currently owe up to $700 billion in unpaid, “deferred” taxes. Congress can make them pay, or let them off the hook. Guess which choice Congress is about to make.
Multinational companies owe us up to $700 billion in taxes. They say they’ll pay some of that tax money if we let them off from paying it all. For some reason just telling them to pay their taxes isn't on the table.
From the perspective of the federal government, tax breaks are no different from any other kind of federal spending. And in 2013, the federal government spent an astounding $1.18 trillion on tax breaks.
The House is about to get it all wrong in today's vote for a research and experimentation tax credit bill. Here's why the Campaign for America's Future has joined Americans for Tax Fairness in calling for a "no" vote.
It's Tax Day! And right now Congress is working on Tax Day giveaways for the big corporations. When corporations avoid paying their fair share of taxes, the rest of us end up picking up the tab. So Happy Tax Day!
At the end of 2013 a pack of corporate tax breaks that long ago should have been weeded out of the tax code finally expired. Today is a good day to tell Congress to stop trying to revive these tax zombies.
Millions of Americans file their federal income tax returns on April 15 each year with no idea what the government actually does with all that money. Here's the surprising truth behind where your federal income tax dollars go.
A Senate report looks into how the world's largest maker of construction and mining equipment avoided $2.4 billion in taxes. Those taxes could pay teachers, fix bridges and feed hungry people.
The majority of those utilizing the home mortgage deduction are wealthy, well-fed and in no need to government assistance, There's a different way to help homeowners without subsidizing those who don't need it.
Two reports highlight the damage done by hewing to a central conservative tenet, that “cutting corporate taxes will stimulate job creation and grow the economy.”
You should pay attention because there is big money involved — really, really big money that could be used for roads, courts, schools, health care and all the other things government does to make our economy and our lives better.