Reprinted with permission from DCReport. James S. Henry, an economist and expert on global tax avoidance, reports that the new Trump tax law gives Apple and other multinational companies a sweetheart deal—several sweetheart deals, actually—that could total as much as $2.6 trillion. This is an important story that the mainstream news missed. We have it all […]
Apple CEO Tim Cook announced this week that the company would repatriate $252 billion, give or take a few billion, then create some American jobs and invest in America – for a change. This is a result of the massive tax cut Congressional Republicans awarded corporations like Apple that were hoarding trillions in profits overseas. […]
We’ve been suckered with this tax holiday scam before. In 2004, George W. Bush pulled it on us — and instead of creating jobs, the corporate tax-dodgers eliminated thousands more of our jobs! The way to know whether or not Trump’s tax holiday will benefit workers is to see if it requires that corporations actually create the thousands of good jobs promised before they get the tax break. Anything less is just another swindle.
Last week, Florida Gov. Rick Scott went to California to steal some jobs. Scott urged California businesses to pack up and move to Florida because the minimum wage in Florida is only $8.05 an hour. That was actually the thrust of his selling point: Why are you paying your workers $10 an hour? Floridians will work dirt cheap!
We’re being told America must let the CEOs “repatriate” their foreign bounty by essentially forgiving the taxes they owe on it. That way, the corporations get to keep the money, and America gets to keep the corporations.
By Jim Puzzanghera, Los Angeles Times WASHINGTON — The Obama administration is close to finishing an evaluation into executive action to make a recent rise in corporate offshore tax shifting “less economically appealing,” but the best way to limit the maneuver is with legislation, Treasury Secretary Jacob J. Lew said Monday. Lew said it was […]
Oct. 6 (Bloomberg) — How can you tell how much federal income tax a publicly traded company pays in a specific year? You can’t. Writing in the Washington Post last month, journalist Allan Sloan suggested this can be corrected by demanding that the Financial Accounting Standards Board require companies to disclose this number. This was […]