Monday, August 11, 2014

AMERICA's REAL FREE LOADERS - CORPORATE WELFARE!


August 10, 2014
Puerto Rico is right at the center of this storm. Our US Territory is their top choice for corporate money laundering. Many in Puerto Rico have been led to believe these corporate tax breaks are the only solution to our stagnant economy. 

However, these tax breaks have been around for over 60 years and we still continue with high unemployment and serious social problems which have escalated. Our island is bankrupct, we have high crime statistics, comparable to a war zone, and increased poverty. 

This TAX BENEFIT for the RICH has also contributed to the economic debacle hitting the US taxpayer and workers, by taking jobs away from the US, increasing unemployment and then obtaining tax benefits to bring the money home under the false pretense of helping the US economy
Miriam Ramirez MD
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Taxpayers fund corporate tax avoidersAugust 7, 2014
THE WEEKLY CHALLENEGER

BY JULIANNE MALVEAUX, NNPA Columnist

"While these companies hit the road to avoid taxes, they have no hesitation in enjoying the benefits that come from tax protection, and regulation.
When these corporations underpay their workers, we supplement their inadequate wages with government-funded income subsidies (food, housing assistance, etc.). When these companies need securities protection, they don’t hesitate to use the Securities and Exchange Commission), also paid for with our taxes. While these corporations operate like foreign corporations for tax purposes, they expect the services of the United States government for their protection.
Meanwhile, the leaders of these companies are some of those who argue for lower estate taxes, and lower taxes for the wealthy. Give me a break! These corporations are ripping off United States taxpayers in two ways. First, they don’t pay taxes on the benefits they receive. Secondly, their advocacy to cut personal taxes is yet another attack on the tax base."
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Letter: Oil industry’s tax traitors
ARGUS LEADER
By Orrie D. SwayzeWilmot
August 9, 2014

"Our president recently condemned as unpatriotic individuals and corporations that renounce U.S. citizenship to avoid paying taxes in the U.S., a practice called “inversion,” used by international oil corporations and others to seek out the lowest bidder tax state to call “my country.” I call them tax traitors.

These tax traitors are the primary competitors to our taxpaying South Dakota corn processing industry that produces human and livestock ration proteins along with its ethanol byproduct. Corn processing is the cornerstone of our job-creating South Dakota economy and No. 1-rated business climate.

It is embarrassingly poor business that we allow these tax traitors or foreign oil corporations to financially create two mythical public perceptions, myths that severely have curtailed projected growth of ethanol production nationally and South Dakota corn processing. First myth: It is illegal to fuel standard autos with E30. Secondly: E30 will ruin standard auto engines."

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CORPORATE TAX INVERSION
Illinois State Senator - DANIEL BLISS

"In a previous blog post,I wrote about the recent spate of corporations exploring the "tax inversion" concept, a maneuver whereby an American corporation buys a foreign corporation and declares its headquarters to have moved to that foreign corporation's country so as to avoid paying U.S. taxes.
You aren't able to declare a residence in Monte Carlo or the Cayman Islands just because you know someone with a spare bedroom there, but corporations can. And you almost certainly aren't able to hire lobbyists to push special tax breaks that only apply to you through compliant legislatures, but corporations do that all the time. When someone else does that, without pushing governments to cut spending by a commensurate amount, there are only two possible outcomes. Either you wind up picking up the slack, or else the government runs up a debt and your children wind up picking up the slack."
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