Posted by Chuck Collins 2 years 14 weeks ago
We're sorely missing the servant leadership of America's CEOs on matters of corporate taxation. As Congress contemplates trillions in budget cuts that will worsen poverty and undermine the quality of life in America, consider these findings from a new report that I co-authored, "Massive CEO Rewards for Tax Dodging," by the Institute for Policy Studies. Last year, the compensation of 25 CEOs at major profitable U.S. companies was larger than the entire amount their company paid in U.S. corporate taxes. These 25 include the CEOs of Verizon, Boeing, Honeywell, General Electric, International Paper, Prudential, eBay, Bank of New York Mellon, Ford, Motorola, Qwest Communications, Dow Chemical, and Stanley Black and Decker.
Posted by Chuck Collins 2 years 21 weeks ago
photo © 2010 John Hilliard | more info (via: Wylio)As Christians concerned about poverty, it is time to turn our full attention to the injustices of an "offshore tax system" that enables corporations and the wealthy to dodge taxes and impoverish countries around the world. As members of Congress in the United States debate deep and painful budget cuts, people of faith should raise our voices against an unfair system that enables profitable U.S. corporations to dodge taxes, depleting an estimated $100 billion from the U.S. Treasury each year. Instead of cutting $1 trillion over the next decade from programs that assist the poor and ensure greater opportunity, we should eliminate these destructive tax gimmicks. Recent reports show that aggressive tax dodgers such as General Electric, Boeing, and Pfizer, avoid billions in taxes a year. They use accounting gymnastics to pretend they are making profits in offshore subsidiaries incorporated in low- or no-tax countries like the Cayman Islands, thereby reducing their tax obligations in the United States. This system is unfair to domestic businesses that have to compete on an un-level playing field.
Posted by Chuck Collins 2 years 34 weeks ago
In the face of state and federal budget cuts, many of us have been fasting and contemplating the question: "What would Jesus cut?" In light of tax day, however, we might equally contemplate: "What would Jesus tax?"After all, a great deal of our budgetary stress is the result of declining revenue, thanks to the economic downturn and decades of tax cuts.A new report that I co-authored, "Unnecessary Austerity," argues that before we make draconian budget cuts at the federal and state level, we should reverse huge tax cuts for the wealthy and tax dodging corporations.The Jesus I know would be concerned about the extreme inequalities of wealth and power that have emerged in our communities. He would rail against principalities and powers that rig the tax rules so the privileged pay less.He would lament the destruction of God's creation through excessive consumption and pollution. And, he would be alarmed about financial and commodity speculation driving up the cost of food and worsening hunger. (In today's world of high finance, someone would be hedging investments on how quickly Jesus could multiply loaves and fishes.)
Posted by Chuck Collins 2 years 37 weeks ago
Posted by Chuck Collins 3 years 34 weeks ago
Posted by Chuck Collins 4 years 10 weeks ago