Saturday, June 8, 2013

Corporate Tax Dodging Prevention Act

From Americans for Tax Fairness:

We all know that Apple isn’t paying its fair share of income taxes. We know that it’s using complicated legal and financial loopholes only available to the biggest corporations to shirk their responsibility. And we know that Apple is doing this legally. Well, it’s time to change that.

Apple isn’t the problem – it’s the symptom. The current tax system has been rigged by fat-cat lobbyists in Washington who have made the tax system as porous as a sieve. It allows corporations to dodge hundreds of billions in taxes every year. That means you and I and the small businesses on Main Street have to make up for tax dodging by huge companies like Apple, GE, Verizon, Bank of America and more.
We just can’t afford that anymore. Not when our nation faces crumbling bridges, roads and highways, when too many of our children are being kicked out of Head Start, and when research for new disease cures goes unfunded – all because of large across-the-board spending cuts by Congress.

We can end the loopholes that make it attractive for Apple to keep $100 billion in profits stashed in offshore accounts to avoid U.S. taxes. We can end the practice of counting companies as foreign corporations that pay little if anything in taxes even if they’re managed and controlled in the United States. We can force companies to pay their fair share – because they’re certainly not going to pay up if we ask politely. That’s why we need to pass this bill.


Campaign Manager
Americans for Tax Fairness

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