A Quote by Sharan Burrow
Many governments and corporations take no moral responsibility for the enslavement of migrant workers and freely do business with states built on the back of slave labour. Illicit financial flows and tax evasion are ignored in the interests of some nations and their corporations, stripping the tax base that is so vital for essential services.
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By allowing super wealthy corporations and individuals to avoid paying their fair share of tax, tax havens are denying governments' revenue that could and should be spent on schools, healthcare, and other essential services.
Our international banking system allows banks to accept funds gained from tax evasion and other crimes and thereby facilitates and encourages embezzlement by public officials, especially in developing countries, as well as tax evasion and tax avoidance by multinational corporations.
You got to remember, S corporations pay one layer of tax, corporations pay two layers of tax. So we basically see equivalent, but here`s the point. The rest of the world, they tax their businesses at an average rate in the industrialized world of 23 percent. Our corporate is 35. Our top S corporate, small business rate is 44.6 effectively. This is killing us.
Obama and Clinton wrongly believe that the corporate income tax is a tax on the rich. The reality is that rich corporations don't pay taxes - workers do.
We need real tax reform which makes the rich and profitable corporations begin to pay their fair share of taxes. We need a tax system which is fair and progressive. Children should not go hungry in this country while profitable corporations and the wealthy avoid their tax responsibilities by stashing their money in the Cayman Islands.
Yes, business really does change. 400 years ago, corporations were formed by royal decree. 300 years ago, many countries were powered by slave labour, or its closest moral equivalent. 200 years ago, debtors didn't go bankrupt, they went to prison. 100 years ago - well, business is largely the same as it was a century ago. And that's exactly the problem. Business hasn't changed, but today's array of tectonic global shocks demands a different, radically better kind of business. Yesterday's corporations visibly cannot meet today's economic challenges.
The Value-Added Tax, a sales tax that applies at every level of business transactions, is an easy tax for governments to collect, and a hard tax to evade.
I hope people understand that when you tax corporations that the concrete and the steel and the plastic don't pay. People pay. And so when you tax corporations, either the employees are going to pay or the shareholders are going to pay or the customers are going to pay. And so corporations are people.
The corporation is the dominant and dominating institution of our time. Governments identify growth and development with commercial corporations and shower them with subsidies, tax privileges, and appropriate labour legislation and market support to attract a commitment and investment.
Crucially, African governments must ensure they prioritize the eradication of tax evasion and tax avoidance.
Each and every year, the United States loses an estimated $100 billion a year in tax revenues due to offshore tax abuses by the wealthy and large corporations.
I really like the idea of consumption tax, and most countries have a pretty serious consumption tax. It's called a value-added tax or a goods and services tax ... It's a sales tax. It doesn't tax labor, it doesn't tax savings or investment - it taxes consumption.
Research has shown that middle-income wage earners would benefit most from a large reduction in corporate tax rates. The corporate tax is not a rich-man's tax. Corporations don't even pay it. They just pass the tax on in terms of lower wages and benefits, higher consumer prices, and less stockholder value.
Republicans and Democrats have long recognized that our corporate tax system hamstrings business, reduces investment, and creates unfairness. Some corporations pay massive tax bills to the federal government while others use tailor-made deductions that enable them to pay close to nothing.
Actually, Congress just did pass a tax plan like Donald Trump`s.They passed a tax plan which some Democrats voted for, significant number of Democrats which gave huge tax breaks to wealthy people and corporations.
The tax rate of 35 percent is impossible to provide an incentive to the large corporations, that have $1.7 trillion offshore, to put their money back in the United States.
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