If you
have read my articles for awhile you will know I am a fan of David Cay
Johnston, who one NPR reporter said knows more about taxes than any other
person in the country. I’ve read a couple of his books and he is remarkable.
In The National Memo (originally from
Reuters.com) he tells us another remarkable story of how certain bosses in the
country collect state income taxes from their employees and then keep the money
with state approval. He is talking about 2,700 companies including: General
Electric, Goldman Sachs, Procter and Gamble, Chrysler, Ford, General Motors and
AMC Theatres along with foreign companies: Electrolux, Nissan, Toyota and
several Canadian, Japanese and European banks among others.
Here are
the states:
As a
result $5.5 billion taxes in the last two decades went to these companies.
This is
the old ruse of corporate blackmail saying unless you give us these tax
advantages we won’t play here, that have become common in our economy.
Here is a
list of 20 of these companies and their take:
This is all the more reason to completely get rid of payroll deductions for taxes, and let people pay them on April 15th and not before. Problem completely solved.
ReplyDeleteStates and localities rush to prostitute themselves in hopes of attracting businesses and jobs. Small place near here put in $15 million in infrastructure for a mall:
ReplyDelete1. the voters were not asked
2. the county attorney found it illegal and resigned
3. the business that requested it lost interest
4. the ranchers have acres of concrete in their range
5. the taxpayers will be footing the bill for eons.
...gotta love the New American Way.
Tax breaks to attract new business? I completely support these. Actual subsidies? No way. This falls into the latter.
DeleteWe ancients recall the good days, and this statement I ran across on the web pretty well sums it up. Not only was the
ReplyDeletedebt minimal, but-
"In the 1950s % 1960s when the top tax rate was 70-92%,
we laid the interstate system, built the Internet, puta man on the moon. defeated communism, our education system was the envy of the world and our economy unparalleled.
You want that back?
Raise taxes on the rich."
Rachel Maddow notes, ""I'm undoubtedly a liberal, which means that I'm in almost total agreement with the Eisenhower-era Republican party platform." We ancients have seen a significant drift in political sentiment, an
emotional, illogical and disconcerting drift....
And reinstitute Jim Crow and un-burn those bras. And bring back McCarthyism? You see, there were a lot of bad things back then too, as well as the ridiculous overtaxation?
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