One of the big political stories yesterday was Republican presidential candidate Mitt Romney correcting his top advisor, Eric Fehrnstrom, thus giving us the accurate description of how the individual mandate to purchase health insurance will be enforced. Yesterday Mr. Romney called it a tax and on Monday of this week Mr. Fehrnstrom called it a penalty. […]
US News and World ReportApril 5, 2012 Families and small businesses pick up the tab for egregious tax loopholes exploited by corporations By Joseph Rotella, Dennis Van Roekel Some politicians might believe that “corporations are people,” as former Gov. Mitt Romney declared last year. At tax time, however, corporations enjoy better treatment than ordinary folks.
There are 280 corporations on the Fortune 500 list that are a lot more fortunate than the rest. According to a just released study by Citizens for Tax Justice and the Institute on Taxation and Economic Policy these 280 corporations paid an average effective tax rate in 2009 and 2010 of just 17.3%. The official
Below is a statement on the debt ceiling deal from Citizens for Tax Justice released 8-2-11.—————————————————————————————————- President Obama Breaks His Promise on Taxes Again The so-called “Budget Control Act” that President Obama signed into law today to increase the federal debt ceiling and reduce the federal budget deficit marks the second time the Obama administration has
About 15 Congressional staff and 15 others attended a briefing yesterday at the U.S. Capitol. They were there to learn more about how tax haven abuse by U.S. based multinational corporations is harming our country. The event was sponsored by the FACT (Financial Accountability and Corporate Transparency) coalition. I was invited to speak to
When President Obama meets with Congressional leaders today, one of the issues on the agenda will be the Bush-era tax cuts scheduled to end for everybody December 31st. On the eve of this important meeting, a report exposes why the U.S. Chamber has been waging an all out campaign to make sure the tax cuts
This is a crucial week in Washington. Congress is back in session and the White House is holding a meeting Thursday with Congressional leaders to discuss issues. One of the issues will be extending tax cuts to the wealthiest 2 percent of the taxpayers—tax cuts that will increase the deficit by $700 billion over the