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Friday, April 15, 2011

A simple change we need from Washington

I've said repeatedly here that one of the easiest, simplest and smartest things we need to do is have one enterprising representative in Congress in Washington introduce a bill that would take away incentives to take any manufacturing or business offshore.  Here's proof of what I'm saying from an article yesterday on Alternet:

According to the non-partisan Government Accountability Office (GAO), eighty-three of the 100 largest publicly traded U.S. corporations utilize such tax havens to reduce their U.S. tax liability. Ironically, these accounting tricks aren’t available for companies that only do business in the United States, so Congress in effect is providing tax incentives to ship jobs overseas and dismantle the middle class.


It would be so easy.


And smart.


Some bright--even demagoguic--representative or senator should sponsor a bill taking away tax benefits to offshore business and first, they'd be a huge media darling, overnight.  Second, they'd be hugely popular with the people, just as quick.  Third, they would gain a great name for themselves locally, in their own districts but also nationally, in case they wanted to run for some other, higher office later.


This would be perfect for ANYONE in any political party--Democrat, Republican, Libertarian, Independent but especially a Tea Party member.


I don't understand why this isn't happening.


Well, other than the fact that some corporations might not want to give them more campaign money.  Other than that.


Link:   http://www.alternet.org/economy/150598/how_12_multinational_corporations_avoid_paying_taxes

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