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Best Web OpEds    H3'ed 12/20/20

If elected GOPhers David Perdue and Kelly Loeffler will be indebted to Super-PACs over the Average Georgian

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GOP donors gave $95 million to Senate super-PACs and party committee between Election Day and Nov. 23, over four times as much as the $18 million Democrats gave similar groups.

The aim of this over 400% advantage is to perpetuate the super-rich low tax rate achieved in the following graphic:

In 2018, offshore tax dodges, like those facilitated by Loeffler, cost states $14.2 billion (Georgia $290 million) and the federal government $97.8 in lost tax revenue for a total of $112 billion or $1.120 trillion over 10 years. This has led to the reduction in the share of Uncle Sam’s revenue for corporate income tax as achieved in the following graphic:


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In 2019 as a result of the TCJA of 2017 the S&P 500 companies paid an effective tax rate of 8.7% versus the 21% statutory rate of 21%, An almost 60% discount multi-nationals’ get versus our domestic companies and individual taxpayers.

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At www.bloomberg.com

 

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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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