Sunday, November 13, 2011

How to solve the corporate tax problem Our globalized economy creates too many loopholes for multinational firms. It's time to push for a universal system By KeriAnn Wells / Salon

    Friday, Nov 11, 2011 9:01 AM 23:09:56 PST

    How to solve the corporate tax problem

    Our globalized economy creates too many loopholes for multinational firms. It's time to push for a universal system

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    (Credit: AP/Mary Altaffer)
    This originally appeared on KeriAnn Wells' Open Salon blog.
    The United States is teeming for tax reform. Obama speaks eloquently of the rich “paying their fair share” while Republicans pledge never to raise taxes. Warren Buffett is taxed less than his receptionist. Occupiers rally for the 99 percent, while Tea Partyers rally behind 9-9-9.
    Meanwhile, 25 of the Forbes top 100 companies paid their CEOs more than they paid Uncle Sam in 2010. Some of the big names are GE, Prudential and Verizon, all of which paid their CEOs well over $10 million, but paid no income tax whatsoever.
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    KeriAnn Wells is a Master of Public Policy Candidate at the University of California, Berkeley. More KeriAnn Wells

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