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Best Web OpEds    H2'ed 12/5/20

The Hypocrisy of Kelly Loeffler's Taxpayer Protection Pledge to the Taxpayers of Georgia

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Grover Norquist, of Americans for Tax Reform (ATR) commended Kelly Loeffler for signing ATR’s Taxpayer Protection Pledge. ATR’s Website later stated, “Tax hikes of all stripes should be off the table as Georgia begins to recover from the pandemic-driven downturn.”

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GOP controlled states ATR Anti-tax pledgers oppose closing international corporate tax loopholes like those facilitated by Kelly Loeffler (linked article). ATR views closing corporate tax loopholes even those of foreign competitors as a “tax hike”.

Offshore tax dodges, 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.

18 states (Graphic) failed to enact Combined Reporting systems, enabling domestic corporate tax avoidance, which cost those states $2.85 billion (Georgia $194 million) in 2018.
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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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