What’s wrong with the USA? LITTLE if corporations and the rich paid income taxes at rates like the majority of ordinary Americans.
January 31, 2011 in Corporate Greed, Corporations
It is absolutely absurd! The USA IS THE MOST UNDER-TAXED NATION IN THE WORLD.
It is no damn wonder that our infrastructure is falling apart at the seams! It is no damn wonder that we can’t afford to hire enough school teachers for our children or first-responders for our communities!
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HERE IS ONE EXAMPLE. VARIATIONS ABOUND FROM STATE TO STATE. ONE OF THE BIGGEST PROBLEMS WITH OUR NATION ARE THE CORPORATE FREE-LOADERS. IN 2009, 50 WALL STREET CORPORATIONS DID NOT PAY A DIME IN INCOME TAX. AND MANY OTHERS LIKE GOLDMAN SACHS PAID ABSURDLY LOW PERCENTAGES. (Goldman Sachs paid an income tax rate of 1%!)
If Wisconsin corporate taxes were merely raised to the national average, a substantial chunk of the state’s fiscal problems would be addressed, Norman points out:
…if corporations in Wisconsin were paying taxes simply at the U.S. average, this would annually generate nearly $1 billion dollars in additional revenue for state and local governments.
This would be enough to reverse statewide service cuts, which range from bus routes and library hours to road repair and school staffing.
This message must not remain buried in think tank reports discussed by only a handful of union staffers and academics.
PLEASE PASS IT ON!
