For many of the nation’s top publicly traded companies, it is becoming more and more prevalent to establish offshore safe havens to avoid taxes.
The U.S. Government loses $90 billion in tax revenue each year from corporate tax loopholes, and that money is being carried on the backs of the average, hard-working taxpayer, either through additional taxes or additional debt to be paid in the future.
State legislatures and Congress are considering massive cuts in our public programs and social services, especially to our education system.
It only makes sense that if corporations are doing business here and generating profits here, than they should, like the rest of us who make money, pay the taxes they owe. Some say it is smart business, but it is completely unpatriotic and undeniably selfish.
I think Congressman Tom McClintock should take a stand in front of the Congress floor and do what needs to be done now rather than later — to close corporate tax loopholes. This will help us generate billions in revenue, help revitalize crucial social programs, enhance our California education system and help pay off our monumental mountain of increasing debt.
Brandon Acuna, Roseville