Tag: Archive

February 25, 2011 11:57 AM | Permalink |

Despite reporting nearly $10 billion in domestic pre-tax profits between 2008 and 2010, the Boeing Corporation, which was granted a contract worth as much as $35 billion to build airplanes for the federal government earlier this week, did not pay a dime of U.S. federal corporate income taxes during this three-year period.

Read the report.

Photo via Joe Mabel Creative Commons Attribution License 2.0

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February 18, 2011 01:08 PM | Permalink |

The budget outline released by President Obama this week, just like last year’s proposal, includes about $3.5 trillion in tax cuts over ten years. Most of that cost comes from his $3.1 trillion proposal to make permanent most of the Bush tax cuts, which would cost 81 percent as much as extending all the Bush tax cuts.

Read the report.

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February 10, 2011 12:27 PM | Permalink |

Citizens for Tax Justice refutes a claim that the U.S. tax system is not particularly lenient on oil companies.

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January 31, 2011 02:14 PM | Permalink |

The “Center for Freedom and Prosperity,” an organization that CTJ long ago dubbed the “Tax Cheaters’ Lobby” has come out against new regulations proposed by the IRS to require banks to report interest paid to foreign account-holders. The Tax Cheaters Lobby claims that cracking down on tax evasion by foreigners and Americans posing as foreigners would break U.S. laws, cause a collapse of the American financial system, and result in kidnapping and deaths of people all over the world. This report from CTJ addresses and refutes these incredible arguments.

Read the report.

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January 25, 2011 03:46 PM | Permalink |

Close corporate tax loopholes, but don’t give the revenue back to corporations in the form of rate reductions. Obama should champion a revenue-positive corporate tax reform — just as Reagan did.

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December 7, 2010 04:48 PM | Permalink |

(Updated to include state-by-state figures)

The compromise tax plan agreed to by President Obama and congressional Republicans would provide more than a quarter of its tax cuts to the best-off one percent of all Americans. That’s almost double the share of the tax cut that the President proposed to give the highest earners. At the same time, the new tax plan would reduce taxes, and increase the budget deficit, by $424 billion in 2011 alone. That’s 40 percent more in tax cuts than the President had earlier proposed.

Read the report.

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December 3, 2010 10:49 AM | Permalink |

There seems to be a lot of confusion in the media and among the public about President Obama’s plan to let the Bush income tax cuts expire for joint incomes above $250,000 and single incomes above $200,000. Many people seem to think that couples and singles who make more than these amounts will lose all of their Bush tax cuts. This is not even slightly true.

Read the report.

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December 2, 2010 04:25 PM | Permalink |

The deficit-reduction plan taking shape before the President’s fiscal commission is seriously unbalanced. It relies on cuts in public services for two-thirds of the deficit reduction it strives for, while relying on increased revenues for only one-third. The plan makes bold proposals to close tax loopholes, but unfortunately uses most of the resulting revenue to lower tax rates!

Read the statement.

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November 30, 2010 04:03 PM | Permalink |

The U.S. Chamber of Commerce has lobbied heavily for Congress to make permanent all of the Bush tax cuts — even for the richest Americans — despite the fact that these tax cuts will ultimately hurt business far more than it could possibly help. Part of the explanation must lie in the personal interests of the CEOs who fund and run the Chamber. As this report from U.S. Chamber Watch and Citizens for Tax Justice explains, many of these CEOs would personally gain $700,000 to $1.7 million a year if the Bush Tax Cuts are extended.

Read the report.

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November 29, 2010 01:20 PM | Permalink |

Presumptive House Speaker John Boehner recently confessed that “what Washington sometimes calls ‘tax cuts’ are really just poorly disguised spending programs that expand the role of government in the lives of individuals and employers.”  We couldn’t agree more.  What’s odd, though, is that Rep. Boehner has proposed moving Congress toward a “cut-as-you-go” system (or “CutGO”) that would actually make it easier for the government to overspend on these types of programs.  The folly of CutGO, and several much more sensible solutions, are the topic of this recent op-ed from Citizens for Tax Justice.

Read the op-ed

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