Apr 16 2009
Tax-payers Urge Obama to Close Off Corporate Tax Loopholes
Yesterday was the deadline for Americans to file federal taxes, and some taxpayers used it as an opportunity to express their anger over off-shore tax havens that corporate America takes advantage of. Around the country and right here in Los Angeles, people gathered at post-offices to support a plan by President Obama to close off access to tax havens. New research by the U.S. Public Interest Research Group shows that American corporations are hiding billions of dollars from the tax-man. The report is called the Tax Shell Game, and it estimates that the tax havens cost American tax payers as much as $100 billion a year. The Senate, in its 2010 budget resolution, acknowledged the large wealth transfer from the poor to the rich as a result of corporate tax havens. Meanwhile, thousands of Americans turned out on tax day for the so-called Tea Parties, to protest government spending to stimulate the economy. Mobilized by right-wing organizations, Fox News, and the Republican Party, the tea-party-goers were seemingly unconcerned about corporate tax theft.
GUEST: Nicole Tichon, Tax & Budget Reform Analyst with US Pirg
Download the report at http://www.uspirg.org/uploads/jv/lm/jvlmB2IEyrOWuei2w7dEBQ/taxshellgamefinalreport_national.pdf. For more information, visit www.uspirg.org.
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