During the Trump administration, the running not-so-funny joke was that every week was “Infrastructure Week.” Periodically, like a clockwork designed by M.C. Escher, Trump or one of his flapdoodle minions would pop up and announce that a massive overhaul of the nation’s crumbling roads, bridges, airports, subways and water systems was a mere “two weeks” away.1 Percent Owes Billions in Unpaid Taxes. IRS Must Reclaim It for Infrastructure. | The Smirking Chimp
The wealthiest 1% of Americans fail to report more than 20% of their income to the IRS, and some of those ultra-rich people use “sophisticated evasion technologies” and criminal tactics to avoid paying their full share, according to a new analysis by researchers at the IRS and economists. The analysis estimated that the top 1% of households fail to report 21% of their income. Nearly a third of that is through sophisticated schemes that random IRS audits fail to detect. The trend is even starker among the top 0.1% of earners, whose unreported income may be twice as high as the IRS estimates.Top 1% fails to report over 20% of income using potentially “criminal” tactics: IRS analysis | Salon.com
Neoliberals are often wrong but never in doubt. In pursuing its corporate tax cut agenda the Government is attempting to shift the industrial relations paradigm – linking private sector wage rises to public sector funding cuts, despite the fact corporate coffers have rarely been in better shape, writes Rob Stewart.
It is difficult to put into words just how fundamentally bereft and indefensible the Government’s corporate tax cut agenda is. It is not my intention to go into the myriad faults in the policy here. My piece of 9th March this year, posted on John Menadue’s Pearls and Irritations site, touches on just a few elements of the ideologically driven and fiscally reckless policy.
A coalition of Australia’s most prominent welfare groups has implored Senate crossbenchers to reject the Turnbull government’s corporate tax cuts, saying the policy is “unconscionable” when millions live in poverty.
Over the weekend a letter was sent to all Senate crossbenchers, who are being lobbied hard by the government to pass the signature economic legislation before the May budget.
The major banks and others have in their testimony so far to the Royal Commission (the one the Prime Minister and the banks so stridently fought against) have as much as confessed that they are a bunch of crooks of the highest order.
Former Labor treasurer says miner ‘gamed the system’ by using aggressive transfer pricing to smuggle profits out of Australia
Apple is only the latest big global American corporation to use foreign tax shelters to avoiding paying VIDEO
Wilson Parking seems to be burdened by uncannily high costs.
PepsiCo Foundation’s tax filings are illegible and incomplete.
More than one-third of the largest public companies and multinational entities paid no tax in Australia in 2013-14. Find out how you stack up against some of the largest corporations with this interactive calculator
The top 500 US companies retained $620 billion that would have otherwise been taxed and spent by the government by using overseas bank accounts, according to a report from Citizens for Tax Justice and the US Public Interest Research Group Education Fund.
When we highlighted the fact that Rio Tinto avoided paying almost half a billion dollars in tax in Australia last year. Yet Joe Hockey is making it even harder for the Australian Tax Office to catch corporate tax cheats.