BSP In the News
- The Hill: Frank Knapp, Small business opposes multinational corporations' tax avoidance
- Minimum Wage News at our BUSINESS FOR A FAIR MINIMUM WAGE website
- The Hill: Report: Taxpayers shoulder burden for offshore tax haven use
- Paramus Post (NJ): Offshore Tax Havens Cost Average Taxpayer $1,026 a Year, Small Businesses $3,067
- U.S. PIRG, Sen. Levin, Small Business Leaders Release "Picking up the Tab 2013: Average Citizens and Small Business Owners Pay the Price for Offshore Tax Havens"
- American Forum: Scott Klinger, Half Time at the Federal Budget Super Bowl
- Philadelphia Daily News: Talking Small Biz
- Triple Pundit: Don’t Blame Google and Starbucks For Minimizing Tax Bills
- Roll Call: Time for Plan C - Close the Floodgates on Corporate Tax Dodging
- CFO: Small Biz, the Fiscal Cliff, and the Big, Bad Bank
- Westerly Sun: Business leaders urge change in tax system
- McClatchy Tribune News Service: A plea for tax fairness from small businesses
- UPI: 'Fiscal cliff': Is there a Plan C to avoid tax increases, spending cuts?
- Madison Capital Times: Wisconsin business owners join national call to raise corporate taxes
- Charlotte Observer: Charlotte small business owners urge tax reform
- Politico: 'Revenue-neutral' tax reform takes hit
- National Journal: Sen. Levin, Small Businesses Push for Corporate Tax Hikes
- Washington Post: Sen. Levin wants corporate tax revenue in a fiscal cliff deal
- The Hill: Corporate revenues must be in debt deal
- Accounting Today: Small Business Leaders Urge Closing of Corporate Tax Haven Loopholes
Triple Pundit: Don’t Blame Google and Starbucks For Minimizing Tax Bills
By Harry Stevens
Triple Pundit, January 10, 2013
In a recent post on his blog, BusinessGreen, James Murray argues that Google’s and Starbucks’s use of “complex accounting techniques” to minimize their tax bill undermines their efforts to “position themselves as… environmentally and socially responsible businesses.” ... Murray’s indignation notwithstanding, he missteps by assigning blame to actors obeying the rules of the system in which they operate, failing to identify the system itself as the proper target of scorn. ...
The American Sustainable Business Council (ASBC), along with Business for Shared Prosperity and the Main Street Alliance, recently sent a letter to President Barack Obama and the U.S. Congress that blames federal tax law for the revenues forgone because of corporate tax loopholes. In doing so, the signatories properly identify the culprit of the lamentable corporate tax situation.
“The need for revenue highlights the importance of working toward revenue positive corporate tax reform, including closing the nearly $1 trillion offshore tax haven loophole,” said ASBC in a statment. “America’s small businesses want large corporations to pay their fair share of taxes. Any corporate tax reform must end the rigged corporate tax system that has corporations paying the lowest share of taxes in half a century at the same time as their profits have risen to 50-year highs.”
The letter points out that the corporate tax share of federal government receipts has fallen from 32 percent in 1952 to just 9 percent now. Moreover, the current corporate tax code creates perverse incentives for companies to shift jobs and investment overseas.
Such faulty tax codes operate on the state level as well. ...