U.S. States Get Down and Miserly While U.S. Corps Pay Little or No Taxes

Many large U.S. Corporations pay little to no taxes while U.S. states reduce unemployment benefits. What is up with this backwards politics and where is the outrage?

Culled From the Headlines section of Democracy Now from Tuesday March 29, 2011:

– Michigan Republican Gov. Rick Snyder has signed a law to cut off benefits for unemployed workers after 20 weeks instead of 26. While Michigan has maintained an unemployment level of more than 10 percent longer than any other state, it will soon pay fewer weeks of unemployment benefits than any other state. Other states around the country are considering similar legislation. Florida Republicans are seeking to cut unemployment benefits to 20 weeks as well. Some analysts suggest that number could drop to as low as 12 weeks if state unemployment falls to five percent or less. Meanwhile, in Arkansas, the State Senate has signed into law a bill reducing state-paid benefits by one week, while tightening eligibility. Indiana has also tightened eligibility for unemployment benefits and has capped weekly payments at $390.

Meanwhile large U.S. corporations are paying little or no (in the case of GE) taxes. In response to the Sixty Minutes piece on U.S. corporations moving off-shore to avoid paying taxes, FireDogLake has an acerbic piece, “60 Minutes’ Leslie Stahl, Corporate Whore”- The title seems to be a reflection of the view of FDL that the 60 Minutes segment frames the corporations as victims of an onerous U.S. corporate tax rate. Worth a gander.

Also, for an interesting conversation on the subject of corporate tax dodgers (loosely expressed) listen to Ian Masters’ interview with leading tax expert David Cay Johnston. Many interesting topics including the aforementioned corporate tax contributions, and the politics of a corporate run ‘democracy’, with a focus on the increasing income disparity and the battle around labor unions.

Leave a Reply




You can use these HTML tags

<a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong>