The Financial Accountability & Corporate Transparency (FACT) Coalition, which includes Task Force coordinating committee members Global Financial Integrity, Tax Justice Network, and Global Witness, released a document detailing their tax legislative asks yesterday. The document does a great job of detailing important ways to keep the financial system accountable, both in a domestic and international sense. The entire document can be downloaded after clicking ‘read more’ or at the ‘PDF’ link in the post title.
Here are some salient excerpts for the Task Force:
The current tax code is full of perks and preferences that create a great deal of unfairness in the tax system. Some large multinational corporations pay little or no federal income taxes, year after year, while domestic‐based businesses large and small commonly pay a quarter or even a third of their income in federal taxes. Some very wealthy taxpayers pay an effective rate almost half of that paid by middle‐income workers.
We ask Congress to enact tax reform that:
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Learn more at fact.gfip.org.
Disclaimer: Unless specifically stated to be the views of the Financial Transparency Coalition, the opinions expressed on this blog are solely the opinions of the individual blogger and are not necessarily those of the Financial Transparency Coalition.