Giant corporations pay little or no federal taxes

03/03/11 Robert Lorei
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On part two of today's Radioactivity an interview with Chuck Collins who is a senior scholar at the Institute for Policy Studies where he directs the Program on Inequality and the Common Good. He is co-author of "The Moral Measure of the Economy" and with Bill Gates Sr. of "Wealth and Our Commonwealth: Why America Should Tax Accumulated Fortunes.

Collins recently wrote the piece "Pay Up, Corporate Tax Dodgers," which states: "Instead of cutting state and federal budgets, the United States should crack down on the corporate tax dodgers thumbing their noses at us." He writes of several well known corporations who pay little or underpay their federal taxes. The companies he writes about include Exxon Mobil, Pfizer, Apple, Boeing and Bank of America.

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Another outstanding interview… Mr. Collins knew his stuff!!! But seriously… are protesters standing at the entrance of their US corporate offices… the way to get them to pay-up??? Personally… I believe this to be another good argument to scrap the existing Tax-Code. There must be a way for a “Fair Tax” or “Consumption Tax” …blended with the USITC and the Harmonized Tariff Schedule (to cover offshore subsidiaries)… to stop this!!! And, adding another couple of hundred pages to the existing 51,000 pages of the Tax-Code aint the way to do it. You want to fix the budget??? BREAK THE CODE!!!