Action by Voters from Six Key States Could Stop the Tax Scam

Hugh J. Campbell

Hugh J. Campbell Son of a steelworker, Philadelphia, Pa.

The American Sustainable Business Council’s Senior Tax Analyst, John O'Neill asks supporters to immediately target the following seven “on the fence” Republican Senators a very close vote, on the vitally important tax bill with long-term repercussions:

Sen. James Lankford (R, OK) – Concerned about the federal debt.

Sen. Ron Johnson (R, WI) – Concerned that the tax bill does too little to help small business.

Sen. Susan Collins (R, ME) – Concerned about the wealthy getting most benefit.

Sen. Jeff Flake (R, AZ) – Concerned about how the bill will affect the sick and grow the debt.

Sen. John McCain (R, AZ) – Concerned that the bill’s not following regular order and does too much for the rich.

Sen. Marco Rubio (R, FL) and Sen. Mike Lee (R, UT) – Concerned that the tax bill does too little for working families while cutting the top corporate tax rate to 21 percent from 35 percent.

The long-term repercussions include:

  • Adding $1.5 trillion to the federal deficit, forcing cuts to essential federal programs, and reducing spending on items like infrastructure and education that strengthen our economy.
  • Creating a territorial tax that will make U.S.-based businesses less competitive and allow multinational corporations to continue to evade their fair share of taxes.
  • Ignoring the needs of  working Americans and the middle class, whose consumer spending drives the economy as a whole.

This bill will take our economy in the wrong direction.

Swaying the small number of senators necessary to kill this bill will pay long-term dividends.

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Hugh Campbell is a seasoned financial professional, currently providing subject matter expertise on a variety of regulatory topics, including the Dodd-Frank Act, the Foreign Account Tax Compliance Act (FATCA) and overall compliance monitoring. Hugh has previously held positions as Chief Risk Officer (CRO), Chief Audit Executive (CAE) and Director of Sarbanes-Oxley (SOX) Compliance.

Posted In: Union Matters

Union Matters

America’s Wealthy: Ever Eager to Pay Their Taxes!

Sam Pizzigati

Sam Pizzigati Editor, Too Much online magazine

Why do many of the wealthiest people in America oppose a “wealth tax,” an annual levy on grand fortune? Could their distaste reflect a simple reluctance to pay their fair tax share? Oh no, JPMorganChase CEO Jamie Dimon recently told the Business Roundtable: “I know a lot of wealthy people who would be happy to pay more in taxes; they just think it’ll be wasted and be given to interest groups and stuff like that.” Could Dimon have in mind the interest group he knows best, Wall Street? In the 2008 financial crisis, federal bailouts kept the banking industry from imploding. JPMorgan alone, notes the ProPublica Bailout Tracker, collected $25 billion worth of federal largesse, an act of generosity that’s helped Dimon lock down a $1.5-billion personal fortune. Under the Elizabeth Warren wealth tax plan, Dimon would pay an annual 3 percent tax on that much net worth. Fortunes between $1 billion and $2.5 billion would face a 5 percent annual tax under the Bernie Sanders plan.

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No Such Thing as Good Greed

No Such Thing as Good Greed