To: The United States House of Representatives and The United States Senate
Congress: Time to End Corporate Tax Loopholes
This petition urges House and Senate members to support legislation in their respective chambers that will put an end to loopholes in the tax code that have been robbing the country and place fairness in our tax system that will provide sufficient revenue for public services and infrastructure.
It's time to do right by those Americans who have shared and sacrificed enough already.
It's time to do right by those Americans who have shared and sacrificed enough already.
Why is this important?
The next time you hear phrase 'shared sacrifice' or 'austerity cuts', keep in mind that the recent fiscal cliff deal missed a large source of much-needed revenue -- closing corporate tax loopholes. With the upcoming budget and sequestration matters coming before Congress, here's a chance for them to begin making changes.
Large, multinational U.S. corporations and wealthy individuals have avoided paying taxes in the U.S. by taking advantage of tax haven schemes such as the Dutch or Double Irish Sandwich that costs the U.S. Treasury an estimate $150 billion dollars yearly. This, in turn, places the burden on the middle class and small businesses who cannot take the same advantage of the tax code and enacts a very real cost for regular taxpayers who are told austerity cuts to state and local budgets are necessary, increases the national debt and leaves taxpayers, such as you or I, on the hook to pay for the tax subsidies corporations and the top 2% enjoy.
Chances are you will have paid more in taxes last year than companies such as Google, Exxon, GE, Wells Fargo or Verizon. It's time to put the 'share' in 'shared sacrifice' and for these companies and wealthy individuals to pay their fair share.
Large, multinational U.S. corporations and wealthy individuals have avoided paying taxes in the U.S. by taking advantage of tax haven schemes such as the Dutch or Double Irish Sandwich that costs the U.S. Treasury an estimate $150 billion dollars yearly. This, in turn, places the burden on the middle class and small businesses who cannot take the same advantage of the tax code and enacts a very real cost for regular taxpayers who are told austerity cuts to state and local budgets are necessary, increases the national debt and leaves taxpayers, such as you or I, on the hook to pay for the tax subsidies corporations and the top 2% enjoy.
Chances are you will have paid more in taxes last year than companies such as Google, Exxon, GE, Wells Fargo or Verizon. It's time to put the 'share' in 'shared sacrifice' and for these companies and wealthy individuals to pay their fair share.