It Ain't Fair

Corporate America is shutting average Americans' voices out, while they help themselves to taxpayer dollars. The economic playing field is tilted against the middle class — and we have the power to change that.

Taxes

Taxes

Federal Taxes: Some Cheat, You Pay

When Congress sets the IRS budget, they allot funding in four different categories, and the IRS cannot move funds between those categories unless they get approval from Congress. The Enforcement category is the one most responsible for collecting and auditing tax returns. The enforcement division lost 15,000 employees from 2010 to 2018. So the IRS gets its funding cut even though it generates enough revenue to pay for itself.

Corporate Tax Avoidance Taxes

Target, Walmart, and other big box stores want your business; they just don’t want to pay for your schools, fire, and police:

A big box store comes to town and builds a new store. They ask for a tax break right after they open. The city has spent money (probably borrowed) to put in streets, fire hydrants, and utilities, banking on a future tax revenue stream. Then the store uses the loophole to cut the revenue stream. Less tax revenue means less money for schools, fire, and police. What’s wrong with this picture?

bad government politics Taxes

B.P.’s Gulf oil spill got them a $61 billion fine with a $17 billion tax break-When fines are tax-deductible, taxpayers get screwed.

On April 10, 2010, B.P.’s Deep-water Horizon rig had a blowout a mile underwater. The rig caught fire and eventually sank. The well leaked for 87 days, pouring 3.2 billion barrels of oil into the Gulf of Mexico. A barrel of oil contains 42 gallons, so 133,980,000 million gallons of oil spilled into the Gulf.

bad government Taxes

Corporations get a break and taxpayers get screwed, due to the tax-deductibility of government-levied fines.

Government agencies sometimes make deals with corporate wrongdoers. They impose a hefty fine, then specify how much is considered punitive and not deductible, and lastly what is remedial, which is deductible for the corporation. This information can be kept secret. As such, the agency can brag about a hefty fine, but the corporation gets a significant tax deduction.

politics Taxes

What Itaintfair.org is all about

Itaintfair.org is an organization that works to unite Americans in political issues. Corporate America is shutting average Americans’ voices out, while they help themselves to taxpayer dollars. The economic playing field is tilted against the middle class — and we have the power to change that. For more information, please visit https://itaintfair.org/get-involved/​

bad government politics Taxes

Carried Interest Tax Break

Private equity, hedge funds and investment funds are made up of two different kind of partners, general partners, who put the investment group together and have all the authority to direct the investments of the group and limited partners who are the ones that put in the bulk of the money but have no say in what investments the general partners participate in.