According to the Government Accountability Office, nearly all of America's top 100 corporations maintain subsidiaries in countries identified as tax havens. As the GAO notes, there could be reasons other than avoiding the IRS to set up branches in places such as Singapore, Luxembourg and Switzerland, where taxes are light or nonexistent and keeping clients' illicit secrets is considered a matter of national pride. Goldman Sachs Group Countrywide Financial Wachovia Lehman Brothers Citigroup Morgan Stanley When the cost of these shenanigans was last estimated two years ago, the U.S. government's annual loss in revenue due to tax avoidance by major corporations and super-rich individuals was pegged at about $100 billion -- considerably more than a rounding error, even today. But of course that is only a rough assessment, as is the estimate of $12 trillion in untaxed assets hidden around the world. Nobody will know for certain until the books are opened and transparency is established.
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Tax evasion is basically theft and can be secondarily considered treason.
The tax system is set up to benefit the general population through maintenance of infrastructure, paying the military, paying our politicians, etc.
American corporations making a profit from doing business in the U.S. and conducting their business through overseas subsidiaries to avoid U.S. tax laws are in effect stealing from the American public.
This leaves the bill for these government supported services to be footed by honest tax payers.
This is also an issue of morality and ethics. Corporations take and use all the benefits of living and working in America but don’t pay for the privilege.
These corporations need to step up and pay their fair share of being allowed to do business in America. Politicians will never force the issue because they are benefiting from these corporations doing business here.
We all need to raise our voices high and boycott those corporations that are stealing from
The tax system is set up to benefit the general population through maintenance of infrastructure, paying the military, paying our politicians, etc.
American corporations making a profit from doing business in the U.S. and conducting their business through overseas subsidiaries to avoid U.S. tax laws are in effect stealing from the American public.
This leaves the bill for these government supported services to be footed by honest tax payers.
This is also an issue of morality and ethics. Corporations take and use all the benefits of living and working in America but don’t pay for the privilege.
These corporations need to step up and pay their fair share of being allowed to do business in America. Politicians will never force the issue because they are benefiting from these corporations doing business here.
We all need to raise our voices high and boycott those corporations that are stealing from
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