US Uncut: Non-partisan group demands corporations pay their taxes

[deminks]

http://www.rawstory.com/rs/2011/02/25/us-uncut-non-partisan-group-demands-corporations-pay-their-taxes/

WASHINGTON – Corporate tax evasion has evolved into a virtual art form. Two-thirds of US corporations didn't pay so much as a dime in taxes between 1998 and 2005, exploiting a multitude of loopholes, according to a Congressional report.

Targeting corporations who evade taxes turned out to be quite the anti-austerity rallying cry in England, where a new prime minister is pushing painful cuts for working people.

Now, that same rallying cry is going out across the United States, where the anti-spending tea party movement has in recent years overshadowed the voices of those who want government to be more active on behalf of the middle class.

A new non-partisan group called US Uncut -- named after UK Uncut -- aims in part to challenge the tea party's push for lower corporate taxes. They instead want Congress stop letting wealthy corporations dodge their taxes.

"This is an issue that has been ignored for way too long," Carl Gibson, a US Uncut spokesman, told Raw Story. "Congress has been chipping away and chipping away at corporate responsibility to pay taxes."

(end snip)

[polichick]

1. Awesome - this is growing in the UK. "YES WE CAN in the U.S. too!"

[RKP5637]

2. Excellent! Make the Corporate Welfare Queens pay their share of taxes! n/t

[Gold Metal Flake]

3. Standard Con/Repub/Teabagger reply: "They will just pass the tax to the consumer"

[arbusto_baboso]

4. Funny, they already pass on the cost of taxes to the consumer. Taxes that they don't pay.

Since they'll screw us whether they pay taxes or not, isn't it about time we force them to?

[Gold Metal Flake]

10. Of course.

But you can't tell that to a 'bagger.

[DirkGently]

5. Great issue. Again, the most vulnerable must pay, so the least can continue to shirk?

[deminks]

6. Wall Street Cheat Sheet: Top Tax Evader 2010 taxes = GE

http://wallstcheatsheet.com/breaking-news/economy/the-top-7-corporate-tax-evaders.html

Want to hear something worth having a tea party about? Some of the largest US corporations have mastered the art of evading taxes by booking expenses in the US and profits in low-tax countries.

As you send off your taxes on today’s April 15th filing deadline, think about the multi-billion dollar corporations which Forbes reports had lower tax rates than you did:

(snip)

Like those who received an Earned Income Credit (EIC), GE (GE) actually made money on their tax filing this year! Although the industrial behemoth generated $10.3 billion in pretax income, they recorded a tax benefit of $1.1 billion. Don’t we all wish we could be in that bracket.

But big tax breaks are nothing new for the 12th largest company in the world. In 2008, GE’s effective tax rate was 5.3% versus the marginal US corporate rate of 35%. In 2007, it was 15%. You’d think GE would at least pay a little more for paper and administration costs considering their tax filing to the IRS is an astounding 24,000 pages when printed out.

(end snips)

[Shallah Kali]

7. K & R

:kick:

http://www.usuncut.org/actions

twitter http://twitter.com/usuncut

facebook: http://www.facebook.com/usauncut



UNCut for Canadians: http://canadauncut.net /

& the UK http://www.ukuncut.org.uk

[deminks]

9. Thank you for posting the links.

:thumbsup:

[PoliticAverse]

8. If it is legal it's not 'evasion' it is 'avoidance'. n/t