Pay Up Now, Corporations
We're organized, aware of your tax havens, and ready to boycott
PayUpNow.org is an online effort to 'uncut' the cutbacks by promoting boycotts of corporations who pay little or no federal income tax.
According to a U.S. Senate subcommittee report, eliminating tax havens could save $100 billion a year. That's a conservative estimate. The IRS calculated that companies and individuals are holding up to $5 trillion in foreign tax havens.
Some of the worst offenders include General Electric, which had $10 billion in profits and received a tax rebate; Bank of America, whose financial statements, according to a Bloomberg report, were "so delusional that they invite laughter"; oil giant Exxon, which paid no U.S. taxes; and Citigroup, with an astounding 427 foreign tax havens.
The list goes on and on. In scanning the Government Accountability Office's list of tax abusers one is struck by the absence of companies WITHOUT tax havens, euphemistically referred to as "financial privacy jurisdictions." Indeed, only 17 of the 100 largest U.S. companies were listed as tax-haven-free.
The $100 billion per year lost to the taxpayers would cover most of the $140 billion budget deficit faced by the 50 states.
Several of the tax evaders are featured at PayUpNow.org, with brief summaries of their recent tax escapades, products to avoid, and links to online forms or email addresses to corporate management. The website was developed by US Uncut members. A Facebook "Pay Up Now" page has also been created.
As noted on the PayUpNow.org website, every effort has been made to provide truthful, documented information. But errors and omissions are likely in such a sensitive area. Corporations are adept at tax strategy. A New York Times story said "G.E. is so good at avoiding taxes that some people consider its tax department to be the best in the world, even better than any law firm's."
Feedback is requested to correct inaccuracies, to add or remove companies depending on their tax-paying behaviors, to clarify company products, and to provide the most suitable modes of communicating to management (online forms or email addresses). The website includes message-sending help. Polite but assertive objection to tax avoidance is essential. Contact information for PayUpNow is offered as a substitute for a message-sender's personal information.
It is occasionally suggested that consumers end up paying corporate taxes anyway, through higher prices. This argument fails when the extraordinary increase in upper management pay is taken into consideration. Literally billions of dollars have gone to the richest 1% while their personal and corporate taxes have decreased. PayUpNow.org is, at the very least, a means of better informing the public of the truth behind the budget deficit.
We are at a crossroads
This country and this world are at a monumental crossroads. In a few short weeks, US voters will have an opportunity to beat back the forces of fascism and confront the billionaires who are rigging the economy, our media system, and our democracy, making it increasingly impossible for ordinary people to get by. We’re not just talking about the election. We’re talking about what must be done once these fascist elements are vanquished from power. We need a bolder set of solutions than what either major party has so far been willing to offer and a working-class movement ready to fight like hell for it. Trump didn't emerge from nowhere. The conditions that fueled MAGA authoritarianism were created by decades of radical neoliberal economic policies and a corrupt political system dominated by corporate interests. They slashed taxes on the super-rich, promising that the benefits would trickle down. They said giveaways to the corporate titans would make life more affordable for the rest of us. It was all bullshit. And when a bitter, betrayed populace searches for someone to blame, right-wing demagogues have little trouble finding scapegoats. People know when they're being lied to, but you won't hear any of this from the corporate media. Only independent journalism—powered and funded by people who believe in building a better world—can deliver truly trustworthy daily news. Our Fall Campaign is underway, and we need your help. To power our newsroom through the rest of the year, we need to raise $125,000 by midnight on October 31. So if you share our vision, please contribute whatever you can to sustain our work. |
PayUpNow.org is an online effort to 'uncut' the cutbacks by promoting boycotts of corporations who pay little or no federal income tax.
According to a U.S. Senate subcommittee report, eliminating tax havens could save $100 billion a year. That's a conservative estimate. The IRS calculated that companies and individuals are holding up to $5 trillion in foreign tax havens.
Some of the worst offenders include General Electric, which had $10 billion in profits and received a tax rebate; Bank of America, whose financial statements, according to a Bloomberg report, were "so delusional that they invite laughter"; oil giant Exxon, which paid no U.S. taxes; and Citigroup, with an astounding 427 foreign tax havens.
The list goes on and on. In scanning the Government Accountability Office's list of tax abusers one is struck by the absence of companies WITHOUT tax havens, euphemistically referred to as "financial privacy jurisdictions." Indeed, only 17 of the 100 largest U.S. companies were listed as tax-haven-free.
The $100 billion per year lost to the taxpayers would cover most of the $140 billion budget deficit faced by the 50 states.
Several of the tax evaders are featured at PayUpNow.org, with brief summaries of their recent tax escapades, products to avoid, and links to online forms or email addresses to corporate management. The website was developed by US Uncut members. A Facebook "Pay Up Now" page has also been created.
As noted on the PayUpNow.org website, every effort has been made to provide truthful, documented information. But errors and omissions are likely in such a sensitive area. Corporations are adept at tax strategy. A New York Times story said "G.E. is so good at avoiding taxes that some people consider its tax department to be the best in the world, even better than any law firm's."
Feedback is requested to correct inaccuracies, to add or remove companies depending on their tax-paying behaviors, to clarify company products, and to provide the most suitable modes of communicating to management (online forms or email addresses). The website includes message-sending help. Polite but assertive objection to tax avoidance is essential. Contact information for PayUpNow is offered as a substitute for a message-sender's personal information.
It is occasionally suggested that consumers end up paying corporate taxes anyway, through higher prices. This argument fails when the extraordinary increase in upper management pay is taken into consideration. Literally billions of dollars have gone to the richest 1% while their personal and corporate taxes have decreased. PayUpNow.org is, at the very least, a means of better informing the public of the truth behind the budget deficit.
PayUpNow.org is an online effort to 'uncut' the cutbacks by promoting boycotts of corporations who pay little or no federal income tax.
According to a U.S. Senate subcommittee report, eliminating tax havens could save $100 billion a year. That's a conservative estimate. The IRS calculated that companies and individuals are holding up to $5 trillion in foreign tax havens.
Some of the worst offenders include General Electric, which had $10 billion in profits and received a tax rebate; Bank of America, whose financial statements, according to a Bloomberg report, were "so delusional that they invite laughter"; oil giant Exxon, which paid no U.S. taxes; and Citigroup, with an astounding 427 foreign tax havens.
The list goes on and on. In scanning the Government Accountability Office's list of tax abusers one is struck by the absence of companies WITHOUT tax havens, euphemistically referred to as "financial privacy jurisdictions." Indeed, only 17 of the 100 largest U.S. companies were listed as tax-haven-free.
The $100 billion per year lost to the taxpayers would cover most of the $140 billion budget deficit faced by the 50 states.
Several of the tax evaders are featured at PayUpNow.org, with brief summaries of their recent tax escapades, products to avoid, and links to online forms or email addresses to corporate management. The website was developed by US Uncut members. A Facebook "Pay Up Now" page has also been created.
As noted on the PayUpNow.org website, every effort has been made to provide truthful, documented information. But errors and omissions are likely in such a sensitive area. Corporations are adept at tax strategy. A New York Times story said "G.E. is so good at avoiding taxes that some people consider its tax department to be the best in the world, even better than any law firm's."
Feedback is requested to correct inaccuracies, to add or remove companies depending on their tax-paying behaviors, to clarify company products, and to provide the most suitable modes of communicating to management (online forms or email addresses). The website includes message-sending help. Polite but assertive objection to tax avoidance is essential. Contact information for PayUpNow is offered as a substitute for a message-sender's personal information.
It is occasionally suggested that consumers end up paying corporate taxes anyway, through higher prices. This argument fails when the extraordinary increase in upper management pay is taken into consideration. Literally billions of dollars have gone to the richest 1% while their personal and corporate taxes have decreased. PayUpNow.org is, at the very least, a means of better informing the public of the truth behind the budget deficit.