Monday, May 27, 2013

Reich's reasonable solution to corporate tax avoidance

He does it again with a sensible way to regain leverage against greedy corporations that could give a shit about what their practices do to the economy as a whole. If they want to move their money to other countries that have a lower tax rate then don't allow them to sell their products in the US. If the US and the EU did this then the greedy bastards would lose their major markets and dry up.

Reich is well aware that such a move would face an enormous onslaught of money to legislators to prevent it, making it all the more difficult to achieve. But if we're willing to fight for it we just might have a chance. And the thing is, if the corporations submit to paying their fare share of taxes for access to our market, thereby stimulating the economy overall, more people buy their products and they still make a gazillion dollars. Maybe it will be a bit less due to higher and more reasonable tax rates, but they'll still be bloody rich beyond imagination.

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