From the local to state on up to the federal level it seems tax revenues are down and the average Joe Schmo seems to paying more now then ever. Every wonder why?
According to Bloomberg News U.S. Companies Are Stashing $2.1 Trillion Overseas to Avoid Taxes. Bloomberg list the top 299 companies avoiding taxes.
The simple answer seems to be lower the corporate tax rates. Question is how low would we have to go to compete with 3rd world countries? Is it even possible any tax rate would be low enough to lure any of this money back?
Another answer would be for consumers to avoid buying from these companies. That is easier said then done (if not impossible) when you look over the list.
Still there are others who advocate for smaller government. Most of these are the very same ones enabling corporations to become larger by supporting legislation so mega businesses can get away with this crap.
Until or unless we reign this in Joe Schmo can look forward to shouldering even more of the tax burden.
I considered speaking towards the Pennsylvania governor's new tax proposal. Instead I will be happy to discuss it further in comments if anyone wants to talk about it.