As Washington considers solutions to our debt crisis, I believe a fundamental principle — before we consider cutting vital programs or raising tax rates—is ensuring everyone pays their fair share. I always find it impossible to explain why a pharmacist in Lockhart, Texas, or a small retail store in San Marcos has to pay more in taxes because some multinational can duck and dodge its obligations by moving money to Bermuda or the Cayman Islands.

Washington, July 25th – Business leaders will join a media briefing hosted by Representative Lloyd Doggett (D. TX) on newly introduced legislation that would recapture $100 billion in revenue annually – and $1 trillion over the next decade – lost to tax dodging by multinational corporations and wealthy individuals through offshore tax havens. At a time when the budget deficit dominates the news, the Stop Tax Haven Abuse Act would ensure that profits and jobs stay in the United States and bring in much needed tax revenues – all without cutting critical funding for education, small business and jobs or entitlements like Social Security and Medicare.

By Michael Cohn

Sen. Carl Levin, D-Mich., and several other senators have introduced a bill to close offshore tax loopholes and strengthen offshore tax enforcement.
The “Stop Tax Haven Abuse Act” builds upon earlier bills that Levin has introduced in past congressional terms, and is a product of the investigative work of the Permanent Subcommittee on Investigations, which Levin chairs (see Senate Probes Offshore Dividend Tax Dodges). [...]

By Scott Klinger and Holly Sklar Some of our nation’s biggest corporations are planning a tax holiday and they want you to pick up the tab. Actually, you already pay for their routine tax avoidance through the use of tax havens in Bermuda, the Cayman Islands and elsewhere. These accounting acrobatics cost the U.S. Treasury [...]

By Frank Knapp Jr. Lucy is at it again. “I’ll hold the ball, and you come running and kick it,” Lucy tells Charlie Brown. We all know what to expect. Charlie Brown will run to kick the football and Lucy will pull it away…again. Charlie will fall flat on his back. This gag is playing [...]

By Zach Carter and Paul Blumenthal Debra Ruh runs TecAccess, a small business that works with large companies and the federal government to help make their tech products accessible to people with disabilities. The 11-year-old central Virginia-based operation has always been small — at its peak before the economic crash, Ruh had 35 employees. Ruh [...]

By Martin Cloake The voice of Main Street is being raised in the US to oppose lobbying by multinationals aimed at securing a tax holiday in return for the repatriation of assets. The small business coalition Business for Shared Prosperity says: “Don’t let corporate tax dodgers dominate debate over corporate tax reform.” There’s fierce debate [...]

By Brian Setzler I’m an accountant. My college degrees and CPA license are the intellectual properties that enable me to earn a living. Now suppose that I formed a corporation to deliver my services, then took my diplomas and license off my wall and placed them in a safe deposit box in a Luxembourg bank. [...]