Where is the compassion in our economy and our politics? It says much of the economic system that Sojourners even needs to campaign for a "moral budget." How do we, as Christians, challenge structures that allow billions of dollars to be wasted via tax loopholes while 1 in 6 Americans live in poverty?
Will we, as Sachs hopes,
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.
The Southern Poverty Law Center has issued a frightening report on the explosive growth of extremist organizations on the radical right. It is hard to know how to account for this phenomenon.