Viewing post #943515 by RickCorey

RoseBlush1 said:...
Back in the day when I owned a tax practice, corporations were taxed on their world-wide income. When that changed, jobs and money started leaving this country and that's when corporations started becoming more powerful because they no longer had to pay their fair share of taxes. They no longer had to live by the same rules as the rest of us. They now had funds to pay for lobbyists and to destroy our representative government. That government, or the concept of that government, is now a myth.

The day when corporations no longer were accountable for all of the profits earned was the day they won the first round. It's taken most of my adult life before people began to even see the impact of how that changed the world we live in today.

I didn't know about the tax change where "offshore -profits are tax-free". No wonder they have off-shored and out-sourced every possible job, factory and call center.

I thought it was just so the work could be done by very poor people for pennies instead of fellow country-people for dollars. At least that had the side benefit of bringing some income to poorer countries and people.

Now you explain it's also a way to get the benefits of both countries without paying taxes for most of what they get.

The fix is in!

(I blame Citizen's United for legalizing what is really bribery, making it almost necessary to get elected. But your point about the tax code is also huge.)