Stop corporate giveaway

Open Forum

Wow! Dr. Hendrickson’s editorial Dec. 13 is blaming the coming expanding national deficit on Medicare, health spending, Social Security and other programs. We say we can’t afford to insure healthcare for all, can’t afford to fix our roads and infrastructure, can’t afford anything for the people. Yet! Just maybe our politicians, both Republicans and Democrats, have legislated and given away much of our potential federal tax revenues to corporate tax breaks and keeping our treasury in deficit. These actions have resulted in a class of corporations called Corporate Tax Avoiders. One out of five large billion dollar profit corporations paid zero federal income taxes. Here is a short sampling as sited by and credited to the 2016 Government Accountability Office:

Johnson Controls: $1 billion profit 2015, paid no federal income tax; IBM: $6 billion profit 2015, paid no federal income tax; American Express: $4.6 billion profit, received $3 billion tax refund; JP Morgan Chase: $17 billion profit 2013, received $1.3 billion refund and $400 billion bailout.

This type of behavior goes on and on. In other words, hundreds of billions of taxpayer dollars are not being collected from very profitable corporations, their CEO salaries or their off shore tax havens and last year corporations were given an additional 21 percent tax break on their profits.

When did we Americans become beggars in our own wealthy nation? How did we decide we could not afford health care for all when every stable nation in the world offers its citizens such care? This should be neither a Republican or Democrat issue, but a united protest for all politicians to get some backbone and speak up to corporations that are defrauding America by avoiding paying federal income taxes. Corporations that are keeping the U.S. treasury facing historic deficits in a time of absolute prosperity.

 

Jack Bratrud

Preston

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