Our Puerto Rico, USA is one of it's biggest victims, since now they scam the US Treasury using PR as an offshore tax haven. They succeeded in classifying the US territory of Puerto Rico as a foreign country for their tax purposes and these US Domestic Companies become CFC's, (Controlled Foreign Corporations), when they do business in Puerto Rico. This has a strong negative impact on our right to self determination and they intervene brazenly in our local politics.
The traditional (as we knew) US Corporations have metamorphosed into money hungry hybrid monsters owned by greedy american and foreign investors who do not care or have loyalty to our Nation and its' principles.
Our eternal gratitude to our advisor, Attorney Luis Costas Elena, a brilliant Harvard scholar, who identified this problem years ago, and wrote his thesis on this subject, exposing this scam. He is the author of the phrase "Corporate Welfare", which he used for the first time in one of many Congressional Hearings representing Puerto Ricans in Civic Action.
Good Jobs Great Houston March For Fair Corporate Taxation On Jan. 24
There will be a Good Jobs Great Houston march and protest against the failure of U.S. corporations to pay a fair share of the taxes in our great nation.
The Government Accountability Office said 72 percent of all foreign corporations and about 57 percent of U.S. companies doing business in the United States paid no federal income taxes for at least one year between 1998 and 2005. More than half of foreign companies and about 42 percent of U.S. companies paid no U.S. income taxes for two or more years in that period, the report said. During that time corporate sales in the United States totaled $2.5 trillion, according to Democratic Sens. Carl Levin of Michigan and Byron Dorgan of North Dakota, who requested the GAO study.
Here are detail of the Jan. 24 march.
FACT: You have more money in your pocket than a majority of US corporations paid in federal income taxes last year.
FACT: Several of these corporations are headquartered downtown.
FACT: While these corporations dodge paying their fair share of taxes, we’re the ones getting cut and fired. What’s wrong with this picture?
Join us at the reflecting pool in front of Houston City Hall on Tuesday, January 24 at 1:30 PM, where we’ll go hog wild and march to some of these corporate HQs downtown to tell them to pay their share!
January 13, 2012 - Posted by Neil Aquino | Uncategorized | Corporate Taxes, Good Jobs Great Houston, Houston, Taxes---Yes!