Google Games The Tax System And Pays A 2.4% Rate. Democracy Loses Billions.
We’ve remarked on here that the ideologues who want to cut corporate tax rates to get out of this environment are simply perpetuating the neoliberal economic environment of the last thirty years. Cutting the corporate tax rate will not bring the economy back. We’ve been cutting corporate taxes and regulations (taxes) for thirty years. How’s that working out for you?
Additionally, as we have remarked, the U.S. already has one of the lowest corporate tax environments in the world. The con artists tell us our corporate rate is one of the highest in the world. It is. But what they don’t tell you is that there isn’t a multi-national corporation in the U.S. that pays the corporate rate. The effective taxes collected in the U.S. on multinationals yields one of the lowest rates in the world.
That Google is gaming the system is no great surprise. All multi-nationals game the system. If you want to cut any tax rates, cut the income tax rate to zero on all Americans. And if we would get rid of a private banking system, we could easily do that.
Neoliberalism is by definition gaming the system. Corporations benefit. Democracy suffers.
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