Streams

Underreported: How Corporations Are Saving Billions in Taxes

Thursday, October 06, 2011

In the current economic downturn, governments around the world are looking to crack down on tax loopholes—corporations have been able to take advantage of tax breaks and loopholes that add up to billions of dollars in lost tax revenue. On today’s Underreported, ProPublica senior reporter Jeff Gerth and Megan Murphy, Investment Banking Correspondent for the Financial Times, describe how corporations are saving billions and how governments are now trying to close some of these loopholes.

Guests:

Jeff Gerth and Megan Murphy
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Comments [3]

David

I'm thrilled that these corporations are paying little, if any, taxes. Now I'd be thrilled if the rest of us could do the same thing.

Oct. 07 2011 09:43 AM
Theo from NY, NY

I read these stories and I think they are well done. However, I think what's not being discussed in your interview is why companies do this. They are doing it to stay competitive. The US has one of the highest corporate income taxes in the world. So other companies dont have this problem and they can bring their profits home and not pay high taxes. Perhaps you can ask your guest whether tax reform in the US, say, getting rid of loopholes, lower tax rates, etc. would change corporate behavior. As it stands now, their behavior is being dictated by high taxes in the US.

Oct. 06 2011 01:41 PM
Laura from UWS

Please define what a "loophole" really is.
Please also talk about lobbyists and just HOW these loopholes are created in the first place.

Also, can you address "corporate personhood"?

See Thom Hartmann's book on the subject:
http://www.commondreams.org/views02/1226-04.htm

I hope you offer solutions!
Thanks.

Oct. 06 2011 12:45 PM

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