Robert Reich, economist and chairman of Common Cause, has a two-minute video that shows how top corporations use their profits to manipulate the political system to reap more tax breaks and the lion’s share of productivity gains over the past several decades; Reich connects a lot of dots in 135 seconds. His themes are fleshed out in a succinct essay by Paul Buchheit on “five reasons why the very rich have not earned their money.” With Tax Day here, it’s worth recognizing that the maze of tax laws lets corporations like Duke Energy and Wells Fargo pay Zero federal taxes. US PIRG analyzes one giant tax distortion that costs the rest of us $100 billion a year: the offshore tax havens enjoyed by eBay, Wells Fargo and others.
Money in Politics Category
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