#ActInTimeDEADLINETime left to limit global warming to 1.5°C 4YRS125DAYS06:21:17 LIFELINEWorld's energy from renewables14.761288871%Peruvian farmer takes Germany's RWE to court in landmark climate case | German emissions fell 3.4% in 2024, on track for 2030 climate goals | London’s pollution drops after expansion of clean air toll | China unveils plan to boost green equipment manufacturing | Ireland donates $16 million to Brazil's Amazon Fund | Britain to invest £1.8bn on home energy saving upgrades | Scientists identify more than 800 new species in global Ocean Census | A bird last seen by Darwin 190 years ago reappears on a Galapagos island | Report says solar & storage accounted for 84% of new US power added in 2024 | Mexican women defied drug-dealers, fly-tippers & chauvinists to protect the environment | Peruvian farmer takes Germany's RWE to court in landmark climate case | German emissions fell 3.4% in 2024, on track for 2030 climate goals | London’s pollution drops after expansion of clean air toll | China unveils plan to boost green equipment manufacturing | Ireland donates $16 million to Brazil's Amazon Fund | Britain to invest £1.8bn on home energy saving upgrades | Scientists identify more than 800 new species in global Ocean Census | A bird last seen by Darwin 190 years ago reappears on a Galapagos island | Report says solar & storage accounted for 84% of new US power added in 2024 | Mexican women defied drug-dealers, fly-tippers & chauvinists to protect the environment |

Jul 17, 2014

Pay Up Or Get Out

BIll Moyers, on a simple (sounding) tax reform idea:
The epidemic of tax inversions represents just one of many ways corporations are dodging their taxes by taking advantage of our outdated and rigged corporate tax system. It is time for a serious debate about corporate taxes, and on Monday a new report by District Economics Group economist Michael Udell offered a bold new alternative that is so radically simple that even the most clever corporate tax accountant would have a hard time finding a way around its fair and universal proposition: If a company sells products or services in the US, it must pay taxes on the US proportion of its worldwide sales.
But first, let’s explore how today’s complexity enables corporate tax avoidance.
Are We “Broke” or Just Not Collecting the Taxes We Are Owed?
America is broke,” declared House Speaker John Boehner a few years ago. But clearly the country is not broke; we are just being robbed, as many corporations create ways of avoiding, dodging, shirking and generally not paying their taxes. The share of federal revenue coming from corporate taxes has dropped from around 32 percent in 1952 to 8.9 percent now. As a share of gross domestic product, it has fallen from about 6 percent of GDP then to less than 2 percent now. Meanwhile the rest of us — including small domestic companies that don’t have armies of tax consultants — have to make up that shortfall, either through increases in things like payroll taxes, or through cuts in the things government does to make our lives better.
hat tips = Facebooks buds VW and DR 

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