The end of the fiscal cliff saga has launched the next drama in Washington over spending and revenue. You are going to hear a lot about how the federal government must live within its means and thus programs ranging from defense to healthcare must be cut.
“We’re broke” many in congress have and will tell you over and over and over again.
“We do not have a tax problem, we have a spending problem” is another line regurgitated reflexively.
But the truth is we do have a tax problem and as a result a revenue problem. Too many multinational corporations are not paying their fair share of U.S. taxes. As a result, individuals and small businesses are subsidizing the government services—defense, infrastructure, courts, education, etc.—that these multinational corporations are using and all of us want.
How bad is the problem?
A film called “We’re Not Broke” tells the story. I was fortunate to be asked to contribute to this project but that’s not why I encourage you to watch it. Here is a trailer made specifically for small business owners. http://youtu.be/h5HQKZDjWvg
You can watch the whole film at no cost on HULU.
I guarantee that after watching the film, you’ll understand that all the cuts in government spending you’ll be told are needed over the next several months to fix our deficit are not where we need to start. We have a taxation problem that allows free loading multinational corporations to profit from our government services without paying their fair share.
Watch the trailer and then the film.