A new advocacy group led by Nobel-winning economist Joseph Stiglitz is trying to grab an unlikely recruit to support its charge to reform corporate taxes and get multinational businesses such as Apple, Google and Amazon to pay out more money: you.
The group, Independent Commission for the Reform of International Corporate Taxation, has launched a crowdfunding campaign to raise funds and awareness among the general public about how big firms — particularly tech firms — use old tax laws to their advantage.
The group’s main ire, however, is aimed at the Organization for Economic Co-operation and Development (OECD) and the governments of its member countries for maintaining what it sees as outdated tax regulations.
Doing so, the group argues, tips the balance too much in favor of wealthy corporations and wealthy nations. Meanwhile, Siu said, poorer people around the world -- particularly in developing countries -- lose out.
To that end, the group has published a recommendation paper and called for the OECD and the United Nations to have a conversation about how tax policies could be rewritten to reflect the modern economy and spread the wealth to more countries.