Tax Justice Blog

Time to abolish the corporate tax? Part 2: Only fools or shills would agree

January 7, 2014   Blog, Corporate Tax

Yesterday we posted a blog looking at a New York Times editorial entitled Abolish the Corporate Income Tax, exposing many of the numerous fallacies and misunderstandings at the base of it. Forgive us for going on about this, but it is important.

Now Citizens for Tax Justice in the U.S. has produced an article of their own, which complements ours and adds several more important points. It starts like this:

Another year, another campaign to give even bigger breaks to corporations and claim that this will create jobs.

Illicit Capital Flows and the Offshore Economy

For a general “Magnitudes” page giving estimates of the size of illicit financial flows and other measurements that are of interest to TJN, click here.

< Update: March 2009. Christian Aid’s False Profits: robbing the poor to keep the rich tax-free estimates that between 2005 and 2007, the total amount of capital flow from bilateral trade mispricing into the EU and the US alone from non-EU countries is estimated conservatively at more than US$1.1tn (£581.4bn, €850.1bn) >

< Update: March 2009. Oxfam estimates that developing countries miss out on up to $124 billion every year in lost income from offshore assets held in tax havens. >

< Invitation to participate in a workshop on Erosion of Public Finances in Developing Countries: Illicit Flows and Commercial Corruption, National Autonomous University of Mexico, September 2009 >

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