Most Americans are wrapping up their holiday celebrations and pondering the promise of 2014. But millions of Americans who have been struggling the longest to find work in our slowly recovering economy are now facing deep uncertainty and despair instead of a Happy New Year.
By removing the Scrooge-like obstacles embedded in the tax code, exiled cash could be fueling our sputtering American economy instead of creating jobs and investments in China or Vietnam by American multinational corporations.
Some people say we should just repeal the rule that lets companies defer taxes due on profits earned outside of the country until they bring it home. But that undoes the benefits that were the original reason to allow deferral.
The oil giant BP paid for cleanup and compensation for their massive Gulf oil spill, and rightfully so. But was this a "necessary and ordinary cost of doing business" that deserved a $10 billion tax break? I think most of us would respond with a resounding, "no!"
Why should Apple have access to U.S. consumers if Apple refuses to pay its fair share of taxes to finance the infrastructure and education that Americans need to improve their living standards? Americans could buy from one of Apple's competitors instead.
Shareholder season is upon us, marking the beginning of another round of corporate America's dog-and-pony shows held to placate their cronies and pat each other on the back for another profitable year.
If you want more kids to grow up into responsible, successful adults who contribute to our society, and if you want lower crime rates and prison populations, investing in good public education makes sense.
Republicans argue that our revenue discussion should be over. They'll say that we already agreed to raise tax rates a little bit on the rich, so now we should only be cutting spending. But they ignore that America gives away through the tax code just as much money as it collects.
By using a loophole in the tax code, some individuals have organized their businesses in such a way that their earnings, what you and I would call "wages," can technically be called "profits" and therefore are not subject to Medicare tax.
It's ridiculous that huge corporations or speculators should be able to take advantage of this provision, buying one investment property, flipping it, and then "replacing" it with another, ad infinitum, not paying capital gains taxes on the sales.
If one of the world's most successful investors, Warren Buffett, calls you on the phone and gives you a specific investment tip would you reply that it depended on the taxes that affect the income from the investment?