We could use $210 Billion right now - 2009-05-04
Not paying your taxes is bad. If I didn't pay my taxes, I would go to jail. The same is true for you and everyone else. Because paying taxes is part of all of our responsibility to our community.
So why on earth corporations think that they are entitled to dodge their taxes by setting up their "headquarters" in places like the Cayman Islands is beyond me. It is so plainly and obviously a scam to evade taxes that I am appalled that we as a society allow this to go on. It's as though we are all turning a blind eye while corporations put their hands in the cookie jar.
Well, no more. President Barack Obama today is calling for an end to corporate tax loopholes. Closing these loopholes would bring in an additional $210 Billion in tax revenue. That would certainly be helpful right about now, considering the state of the economy.
Naturally, Republicans are throwing a fit about this, calling it the largest tax increase on corporations since 1986. News flash, guys...it's not a tax increase! It's just you paying your taxes. The same way all the rest of us have to and the way you should have been for all these years.
President Obama is going to be facing a fight on this. We can help by letting our representatives in Congress know that we have had enough of these outrageous tax loopholes, and that we are not going to let these corporations get away with it anymore. Click here to send a message to your Congressperson.
