Can you deduct fines for criminal violations from your taxes?
- When corporations break the law, they get a tax break
- When corporations fall on hard times, the tax code helps makes them whole
- Many corporations get to choose where in the world to report their income, allowing them to choose a nation with low or no taxes
- Superstorm Sandy devastated millions of American families, but corporations got to deduct the full value of their losses from their taxes
- If you are an American citizen working abroad you pay American taxes on your foreign earnings; if you are an American corporation you can indefinitely delay paying U.S. taxes on income you earn abroad.
It is necessary to trade. It is not necessary to live.
I saw those words decades ago; perhaps while I was studying accounting or in a later European history course. They were allegedly posted about five centuries ago at a toll gate on the Rhine River.
I was more idealistic then and they angered me enough that I remember them now.
They describe well America's business policies.
It's up to Americans to reduce the damage these policies do.