Tuesday, September 2, 2014
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Tax reform Solve problems by closing corporation loophole

Posted on Sepa. 4, 2013 at 1:00 a.m. | Updated on Sepp. 4, 2013 at 4:50 p.m.

Brian Howey’s recent column on tax reform correctly diagnosed the problem but recommended the wrong cure (“A bipartisan push toward federal tax reform”).

He noted the high levels of national and state unemployment, the outrageous rates of infant mortality and suicide in Indiana, and the “Thousands of Hoosier kids [who] flirt with chronic hunger.”

But Howey’s answer — to further reduce the public revenue coming from big corporations — would only exacerbate these social ills. Instead, he should be advocating for corporations and their wealthy executives and shareholders to pay their fair share of taxes.

Big, profitable corporations pay on average only one-third of the official tax rate — or a mere 12.6 percent — according to a recent study by the Government Accountability Office. Corporate tax receipts as a percentage of total federal revenue are at a 60-year low, according to the Office of Management and Budget.

If we closed the huge tax loophole that encourages corporations to hide profits and ship jobs overseas we could raise $600 billion over the next decade, a Senate study found. If we limited the tax deductions of multimillionaires to the same level as middle-class families, we could raise another $500 billion, according to the Joint Tax Committee of Congress.

Then we could invest again in our communities, putting Hoosiers back to work, rebuilding healthy families and making sure all our kids have enough to eat.

Jeremy Bernstein

Goshen




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 This undated image posted on Wednesday, Aug. 27, 2014, by the Raqqa Media Center of the Islamic State group, a Syrian opposition group, which has been verified and is consistent with other AP reporting, shows a fighter from the Islamic State group, armed with a knife and an automatic weapon, next to captured Syrian army soldiers and officers, following the battle for the Tabqa air base, in Raqqa, Syria. A U.N. commission accused the extremist Islamic State organization of committing crimes against humanity as pictures emerged of the extremists' bloody takeover of the air base.

Posted on Aug. 31, 2014 at 4:00 p.m.
 A man closes off an entrance to the Last Stop outdoor shooting range Wednesday, Aug. 27, 2014, in White Hills, Ariz. Gun range instructor Charles Vacca was accidentally killed Monday, Aug. 25, 2014 at the range by a 9-year-old with an Uzi submachine gun.

Posted on Aug. 31, 2014 at 3:00 p.m.
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