Cenk Uygur
@TheYoungTurks·6.5M subscribers·72.8K videos
Elizabeth Warren: End Corporate Tax "Holidays"
Posted
October 25, 2016
Views
107,193
Likes
2,956
Comments
404
Engagement
3.13%
October 25, 2016
107,193
2,956
404
3.13%
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13:58Now PlayingElizabeth Warren is taking the fight to corporate tax dodgers. Normal people don't get holidays from their taxes. Why should corporations? Cenk Uygur, host of The Young Turks, breaks it down. Tell us what you think in the comment section below.
“Sen. Elizabeth Warren (D-Mass.) is gearing up for a major tax battle next year, warning Democrats not to cave to corporate pressure in a coming push for comprehensive tax reform.
House Speaker Paul Ryan (R-Wis.) and Sen. Chuck Schumer (D-N.Y.), who will become majority leader if Democrats take the upper chamber, have been in talks to reform the tax code in 2017.
Multinational companies are under increasing pressure from tax authorities around the globe, with signs that the era of easy access to tax havens may be coming to an end. With few places left to turn, U.S. companies want to bring their cash home ― but they want to do it without paying the tax they avoided by stashing it offshore to begin with.
The pro-corporate narrative in Washington warns that if taxes aren’t cut, companies will go elsewhere. Warren said it’s a bluff, and recent activity around the globe suggests she’s right.
“Developed countries are cracking down on the tax dodgers. You saw what just happened with the European Commission ordering Ireland to collect $14 billion in back taxes from Apple,” she said. “Corporations are running out of places to hide, with the G20 and the OECD [Organization for Economic Cooperation and Development] working together to end international tax avoidance. So I just think that argument no longer holds much weight. Instead of bailing out the tax dodgers under the guise of tax reform, Congress should seize this moment to repair our broken tax code.””*
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Hosts: Cenk Uygur
Cast: Cenk Uygur
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