You pay your taxes, so why don’t corporations?
The sequester continues to harm important investments in America, with the latest casualty being the National Park Service — which may have to shed employees and deny park visits which would mean losing 267,000 visitors.
But as average Americans feel the pain of $85 billion of annual cuts, corporations continue to rip off the Treasury.
Recall this July 2011 report from the Center for American Progress. Drawing on Internal Revenue Service data, it estimates that corporations underpay their taxes — either through evasion or noncompliance — by $400 to $500 billion every single year. So that means at the very least that corporations are dodging taxes that are equal to four times the amount that the sequester is cutting.
Some in Congress want to replace the sequester with a deal that cuts Social Security, Medicare or Medicaid benefits.Ai??Click here to sign on as a citizen sponsor of the Grayson-Takano letter against Social Security, Medicare, and Medicaid benefit cuts.
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