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Democrats and Republicans Are Quietly Planning a Corporate Giveaway -- to the Tune of $400 Billion - BillMoyers.com

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This is real money they’re talking about — a giveaway of hundreds of billions.The major multinationals complain about a tax problem that most citizens would love to have for themselves: Thanks to a loophole in the tax code, the companies do not have to pay US taxes on profits they have earned in foreign countries until they bring the money home to American shores. Altogether, the globalized US companies have accumulated $2.1 trillion in untaxed profits, most of it parked in overseas tax havens.The multinationals are waiting for Congress to forgive them their debts. Democrats intend to negotiate with Republican counterparts on the size and terms of post-facto tax “forgiveness” for America’s globalized companies. This is real money they’re talking about — a giveaway of hundreds of billions.

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I began teaching in 1963,; Ba and BS in Education -Brooklyn College. I have the equivalent of 2 additional Master's, mainly in Literacy Studies and Graphic Design. I was the only seventh grade teacher of English from 1990 -1999 at East Side (more...)
 

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