Nobel Prize-winning economist Joseph Stiglitz tells Bill Moyers the U.S. should stop subsidizing tax dodgers. Our nation's policies, including tax policies, grossly favor the wealthy and corporations, but Congress has the power to change that. Check out the show promo: http://bit.ly/1k8jJbT
"Twenty-eight of these corporations reveal that they have paid an income tax rate of 10 percent or less to the governments of the countries where these profits are officially held, indicating that most of these profits are likely in offshore tax havens."
"American companies have $94 billion in profits in Bermuda, which is interesting because the GDP of Bermuda is $6 billion, which means the people of Bermuda have spent 15 times more than they make on American products. I think Bermuda is a tax loophole masquerading as a country." -Bill Maher For more check out: http://ctj.org/ctjreports/2014/06/offshore_shell_games_2014.php
The House of Representatives just passed a package of $45 billion in tax breaks for corporations and the Senate will likely follow their lead. Apparently everyday is Christmas for corporations. http://www.taxjusticeblog.org/archive/2014/12/ctj_report_extenders_bill_is_a.php
Supply siders complain about wealth redistribution. Well, turns out state tax systems are actually redistributing income to the wealthy, according to a new analysis by the Institute on Taxation and Economic Policy. The bottom 20 percent pay DOUBLE the state rate paid by the richest 1 percent. http://wwww.whopays.org/
Apple's 'innovative' tax avoidance techniques have allowed the company to stash over $110 billion of profits into offshore tax havens, leaving you to pick up the bill for the $36.4 billion its avoided in U.S. taxes. http://bit.ly/1wfu3W7