MULTINATIONAL TAX DODGES COST FAR MORE THAN UNEMPLOYMENT HELP!

MULTINATIONAL TAX DODGES COST FAR MORE THAN UNEMPLOYMENT HELP!

GILDEN = CORPORATION PAYS NO TAXES

Click for Excellent VIDEO Description of TAX DODGE SCAM in CANADA

FACT: $32 Trillion in TAX DODGES = MOSTLY MULTINATIONAL CORPORATIONS or SUPER-RICH

GOOD TAX BREAKS = Relief for Foreclosure Victims + Energy Efficiency + Renewable Energy + Hiring Disadvantaged Workers + tax credits to revitalize Economically Depressed Areas Two Corporate Tax Breaks cost AMERICAN MIDDLE CLASS TAXPAYERS

2 Tax breaks expired 2013 = TAX EXTENDERS $1 TRILLION FRAUD = LOOPHOLES + SUBSIDIES = BAD TAX INCENTIVES = Subsidize $Multinational corporations

$76 Billion COST = BAD Tax Extenders for 2012-2013 = Part of the fiscal cliff deal.

GOP = FIGHTS EXTENDING long-term unemployment benefits for 2 Million jobless

GOP = LOVES CORPORATE WELFARE = “Active Financing” + “Look-Through” exceptions for foreign offices of US MULTINATIONALS = DEFERRED INDEFINITELY USING TRICKS

Taxes = Paid immediately on foreign earnings from Interest + Dividends + Rents + Royalties = PASSIVE INCOME CORPS EASILY PRETEND ARE FROM FOREIGN COMPANIES! = Shift income into foreign tax havens to TAX DODGE/AVOID

TRICK = ACTIVE FINANCING EXCEPTION = $Multinational BANKS FAKE their foreign PASSIVE banking and insurance earnings as ACTIVE INCOME = Defer US taxes on their foreign profits NEARLY FOREVER.

$11.2 Billion SCAM COSTING MIDDLE CLASS TAXPAYERS: Irish office of US MULTINATIONAL collects PASSIVE INCOME from Irish stocks and bonds but calls it ACTIVE INCOME to AVOID US TAXES by loaning money to Irish businesses. = SCAM

Lending of money = Can be located in any convenient TAX DODGING jurisdiction by 15 minute Incorporation of a BRANCH OFFICE in a FOREIGN TAX DODGING Country = Even if the loans are located elsewhere = USED TO HIDE AND TAX DODGE PASSIVE INCOMES on dividends, interest, and other passive gains.

Congress revived this SCAM in 1997 + Routinely extended it since = NO expiration

$1.5 BILLION SCAM = # 2 SCAM = Corporations treat foreign OFFICE passive income as active income = US manufacturer has distribution OFFICE in Germany financed by its Bermuda Office = Passive Interest payments from German Office to the Bermudan Office = NOT Taxed by US = $1.5 BILLION SCAM = LOOK THROUGH RULE = US MULTINATIONALS TAX DODGE by shifting their income from high-tax countries to low-tax countries. = Making investment decisions to minimize their tax bills, not to maximize economic value.

CORPORATIONS WANT THESE SCAMS to BEAT THEIR COMPETITION from abroad = MIDDLE CLASS LOSES TAX MONEY for building infrastructure, preschool education, or assistance to the long-term unemployed at home.

2-MULTINATIONAL SCAMS ABOVE cost Middle Class more than 5-Month Extension of Long-Term unemployment benefits = A human and economic catastrophe if NOT DONE!