ARKANSAS: April 15 “Who Pays?” event – ACO Office, 2001 S. Main Street, Little Rock, AR, 10 p.m.
ARKANSAS: April 15 “Who Pays?” event – Post Office at the Federal Building, E. 8th Street, Pine Bluff, AR, 12 p.m.
DELAWARE: April 15 “Who Pays?” event – Newark Post Office, 401 Ogletown Rd., Newark, DE, 5:30 p.m. http://bit.ly/11Hca1Q
MICHIGAN: April 15 “Who Pays?” event – Post Office, 200 W. Second., Royal Oak 5 p.m.
MISSOURI: April 15 “Who Pays?” event – Columbia Post Office, 511 E Walnut, Columbia, MO
MONTANA: April 12 “Who Pays?” event – Location Pending, Missoula, MT
NEW YORK: April 14 Flip The Debt event – Goldman Sachs HQ, New York City, 3 p.m.
FLORIDA: April 15 “Who Pays?” event – U.S. Post Office at 1201 Gandy Boulevard North, St. Petersburg, FL, 10 a.m.
WASHINGTON STATE: April 15 “Who Pays?” event – Sen. Hobbs District Office, Olympia, WA, 10 a.m.
WASHINGTON STATE: April 15 “Who Pays?” event – Sen. Hobbs District Office, Lake Stevens, WA, TBD
WASHINGTON STATE: April 15 “Who Pays?” event – U.S. Sen. Cantwell’s District Office, Seattle, WA, TBD
HAPPENING NOW NATIONWIDE: The Light Brigade will spotlight “Tax Evaders” all week via distributed illuminated actions leading up to Tax Day where they shine a light on corporate Tax Evaders – http://taxevaders.tumblr.com/
TODAY’S “CORPORATE TAX DODGER OF THE DAY”: Microsoft
–Americans for Tax Fairness, a national coalition representing more than 275 national and state groups co-chaired by the Center for American Progress, AFSCME and National People’s Action, is stepping up pressure on Congress to close tax loopholes to make big corporations and the richest 2 percent pay their fair share of taxes by exposing a “CORPORATE TAX DODGER OF THE DAY” leading into April 15 “Tax Day.”
JUST THE FACTS:
–Microsoft saved $4.5 billion in federal income taxes from 2009 to 2011 by transferring profits to a subsidiary in the tax haven of Puerto Rico.
–Microsoft had $60.8 billion in profits stashed offshore in 2012 on which it paid no U.S. taxes. Microsoft says it would owe Uncle Sam $19.4 billion if it brings the profits home. Its untaxed profits increased a whopping $16 billion, or 36% over the last year.
–Microsoft appears to pay more than its fair share of taxes but that’s
deceiving. It had profits of $20 billion and paid $9.8 billion in federal
income taxes from 2010 to 2012. This apparent 49% effective tax rate
is deceiving since Microsoft has mastered the art of turning sales on
products developed and sold in the U.S. into profits booked in a tax haven like Puerto Rico. By moving these profits offshore, Microsoft keeps its U.S. profits artificially low, and its reported tax rate way overstated.
–Over the last three years, Microsoft has had in the United States more than 75% of its long-lived assets and nearly 55% of its sales, yet reported just 26.6% of its sales here. If it had reported 55% of its profits in America it would have owed $16.6 billion more in U.S. corporate income taxes than it paid. That subsidy is attributable to offshore tax loopholes.. READ MORE: http://bit.ly/11zWH3z
DAILY TRADING CARD HITS TO PRESSURE CORPS: A “Corporate Tax Dodger Trading Card” outlining why Microsoft, and other companies to be profiled till Tax Day, have been chosen as corporate tax dodgers is available at: AmericansForTaxFairness.org/
REPORT ON TAX HAVENS PROVES REAL IMPACT: Offshore Tax Havens Cost Average Taxpayer $1,026 a Year, Small Businesses $3,067, according to the Public Interest Research Group.
–“Tax dodging is not a victimless offense. When companies use accounting gimmicks to move their profits to tax haven shell companies, the rest of us have to pick up the tab,” said Dan Smith, Tax and Budget Advocate for U.S. PIRG and report co-author. “With the nation facing such serious budget challenges, it’s a no-brainer that we need to close these loopholes and stop letting large corporations avoid paying what they should.”http://bit.ly/17fz7f6
THE MEDIA INVESTIGATES: The Center for Public Integrity released a report, “Secrecy For Sale,” based on 2.5 million documents unearthed by the International Consortium of Investigative Journalists that show how these secret investment vehicles are exploited by the world’s rich and sneaky. http://bit.ly/XOxn9X
AMERICANS FOR TAX FAIRNESS COALITION ON OBAMA BUDGET: “We support President Obama’s proposal to raise substantial tax revenues from the wealthiest Americans, make significant improvements to tax credits benefitting students and low-income working families, and close some egregious corporate tax loopholes, including ones that encourage companies to shift U.S. profits and jobs overseas. But we are strongly opposed to the president’s plan to give the money saved from closing corporate tax loopholes right back to corporations by lowering their income tax rate. His plan does not ask America’s biggest companies to contribute a dime to reduce the deficit while it cuts health care and other critical services America’s families rely on. That’s unfair and misguided,” said Frank Clemente, campaign manager, Americans for Tax Fairness.
FACT COALITION REACTS TO OBAMA BUDGET: “Members of the Financial Accountability and Corporate Transparency (FACT) coalition – including small business, labor, faith and human rights groups – support closing offshore tax loopholes as a priority in any budget proposal. However, closing these loopholes in a way that would raise no new revenues, as the President proposes, reflects a step in the wrong direction. While the Administration has continued to propose closing offshore tax loopholes each year, the notion that the revenue raised should be fed back to the same large, multinational corporations flies in the face of the interests of voters, small businesses and common sense,” said Nicole Tichon, who directs the FACT coalition and Tax Justice Network USA.
WHY FOCUS ON CORPORATIONS? Millions of working families pay more in taxes some years, or pay a much higher income tax rate, than some of the biggest and most profitable corporations in America pay, including ExxonMobil, General Electric, FedEx, Verizon, Wells Fargo and more. That’s wrong. They haven’t been asked to contribute a dime.
ULTIMATE GOALS OF NATIONAL CAMPAIGN LEADING INTO TAX DAY:
1) Require big corporations and the wealthy to pay their fair share of taxes, including by stopping companies from shipping jobs and stashing profits overseas to avoid U.S. taxes.
2) End across-the-board “sequester” cuts to the jobs and services we count on.
3) Protect Medicaid, Medicare and Social Security from harmful cuts.
FOLLOW VIA TWITTER: @4TaxFairness
FOLLOW ON FACEBOOK: Facebook.com/
MEDIA CONTACT: Trevor Thomas, Americans for Tax Fairness; 616-430-2030