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President Obama is right to address the urgent need to modernize our once grand infrastructure. Unfortunately, the president’s corporate tax reforms would leave us in a deeper hole down the road.
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Talk about taking your business to “The Cloud.” In an ingenious effort to avoid billions of dollars in taxes, Apple, Inc., has been levitating subsidiaries between American and Irish soil, claiming that from a tax-law perspective, they exist in neither country and so are subject to neither country’s taxing authority. And, sadly, the scheme has worked: no taxes have been paid to the U.S., a relatively paltry sum was paid to Ireland.
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The national average gas price has fallen this week, which marked the second consecutive year that the average American motorist has paid less per gallon at the pump when filling up for their Memorial Day holiday travel.
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In our highly partisan environment there seems to be very few issues that Republicans, Independents and Democrats agree on. This partisanship is easily seen in Congress but is also alive with voters across the country. Small business owners are often no different than their customers in demonstrating divergent opinions on issues depending on their political preferences.
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In his State of the Union speech, President Obama focused on investing to create the, infrastructure, work environment and skills for good jobs and a thriving middle class. But, do you know how most jobs get created in America? The answer is small and microbusinesses.
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Congress dropped the ball in the midst of football season when it failed to strike a deal that provided sufficient revenue to invest in the creation of jobs and the 21st century infrastructure our nation so sorely needs. The Federal Budget Super Bowl is only at halftime. If you are a fan of small business and a better economic future, it’s time to make a lot more noise.
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Last January, when our documentary film, We’re Not Broke, premiered at the Sundance Film Festival, we were elated. The film’s message about how multinational corporations are cheating the American people out of desperately needed tax revenue to the tune of $100 billion a year was sure to reach the masses.
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There’s been a lot of talk about what we can’t afford as a nation and who is getting what “gift” or which free ride. When President Obama recently met with CEOs and chatted with Jamie Dimon, we should hope he issued a stern warning that legal tax avoidance games played by banks and multinational corporations are on the chopping block. After all, free enterprise isn’t free.
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The income tax creates a stagnant economy for the United States. Companies have moved overseas to give their investors a tax advamtage. They will not return to the US until our system gives them an advantage in the world market.
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AccuWeather.com reports some of the most impressive statistics gathered from the terrible storm Sandy.
