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How Reagan's Unpatriotic Tax Avoidance Gift to Corporations Worldwide is Enforced by Grover Norquist's Anti-tax Pledge

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On September 2, 1983, Margaret Thatcher wrote President Reagan asking him to support a ban the use of the Unitary Tax Method by the states. As a result of Reagan favorable response to this request, the link document estimates that $17.04 billion of tax revenue was lost by all states in 2018.

STATES LOSE $17 BILLION ANNUALLY TO CORPORATE TAX AVOIDANCE
STATES LOSE $17 BILLION ANNUALLY TO CORPORATE TAX AVOIDANCE
(Image by The Institute on Taxation and Economic Policy (ITEP))
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Even though Grover Norquist’s Anti-tax Pledge is titled Taxpayer Protection Pledge, its enforcement against our states using the Unitary Tax Method, protects non-taxpayer to the detriment voting taxpayer in every state and the lion's share of their employers.

Taxpayer Protection Pledge
Taxpayer Protection Pledge
(Image by Americans for Tax Reform (ATR))
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With the fiscal strains of Covid-19 as a backdrop, isn’t it long overdue for state officeholders to actually protect voting taxpayers; instead of perpetuating a tax haven loophole, which makes our domestic businesses and their employees less competitive, in a global economy.
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Hugh Campbell Social Media Pages: Facebook page url on login Profile not filled in       Twitter page url on login Profile not filled in       Linkedin page url on login Profile not filled in       Instagram page url on login Profile not filled in

A seasoned financial professional, currently providing subject matter expertise on a variety of regulatory topics, including the Dodd-Frank Act, the Foreign Account Tax Compliance Act (FATCA) and overall compliance monitoring. He has previously held (more...)
 
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