[1] https://americansfortaxfairness.org/corporate-tax-chartbook-...
Not to mention that two of the companies in their subtitle (Amazon and Microsoft) are not Silicon Valley companies.
It's a wealth concentration issue.
There is zero obligation for any individual or company to pay any more tax than they owe.
These companies all pay the taxes they owe.
Perhaps government should not have so much power that people have an economic incentive to corrupt it?
As I see it, the founders did a good job with checks and balances relative to other countries, but if anything, they didn't go far enough.
There should have been a check on allowing anyone to favor any tax changes that they are not equally hurt by or that don't equally help everyone but themselves. One of the largest corrupting forces is that congresspeople and individuals can support taxes that others pay but not themselves. If you think something is worth being paid for, they you should also be among those that are paying for it. Anything less than that invites corruption.
Seems dubious. Wealth, left to its own devices, is not known for trending towards equality.
And disempowering the government, while removing incentive for corruption, also remove one of the only checks on capital.
Just because Walmart, Exxon and others are bad doesn't mean SV isn't bad. It just means tech companies also get to be called out when they misbehave.
Instead we have kleptocracy.
It isn't dodge. It's "cleverly follow the tax laws that are allowed".
What are top 3 tax loopholes that could get closed? One on hand, it sounds like robbery for companies to not pay taxes. However, if they were forced to pay more taxes and therefore paid less to their employees/hired less... would us consumers really win?
Yes because it would reduce the economic power of corporations vs people.
The point of a tax system is only tangentially to provide goods and services. The main point is for it to stop the infinite accumulation of wealth at the hands of fewer and fewer people.
Capital tends to a gini coefficient of 1 when left to its own devices. Without the visible hand of government to stop that from happening the invisible hand of providence [0] reaches in and does it for us.
This isn't a given, and most companies would rather pay the taxes and see less profit, than sabotage their labor and fold even quicker. If it's a blanket policy, I imagine you'll see an initial market shock, and then things will go back to normal. And that's all the people in charge really care about. Pay won't change because it's a supply/demand issue, or so I'm told.