The Voice of Joyce: Corporate Taxation; Race to the bottom

 

You’re killing me. Stop the race to the bottom by paying low wages and insisting that you lure business to your state by allowing 10 yr tax breaks for Corporations.

If you are serious about Federal Debt. There’s a good reason to lower the debt and have a win win for we the people and satisfy ideology

 
Debt is $1.5 trillion and growing faster every year. To stay ahead of debt or balance the budget you have to add taxes back into the system. The low taxation on both the uber wealthy and corporate level are increasing the people’s debt load.

 
Therefore, if you pass my tax on derivatives and millisecond trades. 6 basis points on these trades adds $660- 750 billion in revenue to the economy, in one year, not 10 years. This tax and subsequent job creation gives Congress the time to Reform Corporate Tax structure and Reform the IRS.   Why make incremental changes in government when the people need so much more?   Cut waste and take money out of Politics and we’ll reclaim  old time values, where integrity matters to all of us! Amend the constitution to overturn Citizens United and elect statesmen to government!  We’ll never have utopia, we’re human,  but we can “get to compromise”  for the benefit of the people.

Not convinced that our tax laws are destroying the AMERICAN way of life? Want an example? GE is leaving Fairfield, Connecticut for Boston. Why? For beneficial Corporate tax breaks. Did anyone ask? What happens to all their employees? Will the same skill set be available in Boston or will GE claim there are no trained employees? Who else loses out by this move? Non profits? The butcher, the baker, etc. Stop playing three card monte with Corporate Taxation, the competition among states for Corporate participation without taxation, is destroying the Middle Class .  We don’t have a skill shortage, we have people stranded without jobs, because we allow Wealthy Corporations to uproot thousands and move on to more tax favorable sites?

 
In the 70’s when Ford Motor Co. closed the Mahwah Plant , the government changed the laws to forbid laying off 5000 people without placement, relocation , prior notice and counseling. We’ve gone from a caring value driven society to a society based on Corporate profit only! You have to ask , why do we , as a people , allow our own destruction and pay for it willingly by supporting bad policy and “elite” leaders who do not represent “we the People”

 
We have  created laws to support Corporate  tax evasion overseas.  Then we cry foul when the EU needs cash, decides to tax and back tax corporations who avoid US taxes by going abroad. The world is changing, AMERICA should be entitled to the taxes of AMERICAN Corporations, that’s true. Then why are the laws configured for them to evade taxes?   Worse, once these Corporations are resettled overseas, they are considered a “foreign” entity .   We then allow the remaining US subsidiaries to borrow money from the parent company and evade more US taxation.  (This is called cash stripping)  We have institutionalized our own demise.   The IRS could , if backed by Congress,  create a regulation to prevent cash stripping from occurring.  The Law has been written but like everything else, it remains closeted for future reference as we watch helplessly as $1.5 Trillion is sheltered either here or in offshore accounts.

 

Do you understand dear followers ,  the system is rotten and rigged to prevent you from achieving upward mobility?  If you believe that the rights of the Corporation supersede your rights,  we’re doomed!

No state should be allowed to give tax breaks to any  large Corp. or Bank.   As we’ve learned to our detriment, “Corporations are not people”. We the people,  need the lost revenue to fund state and Federal  projects. I don’t feel sorry for a Big Business,  but I do feel sorry for the Middle Class. Don’t you deserve better pay and services too? If Not , why not?

Less State revenue equates to less services a diminished tax base to support good schools, addiction, water  infrastructure, etc.

 

“the heart and pulse of the Middle Class”

 


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