Alternative Visions - The US Corporate Tax Ripoff, Tax Code Overhaul, and Deficit Negotiations: Part 1 - 10/30/13

Dr. Jack Rasmus discusses the facts and key trends involving  US corporate taxes, the role of corporate taxes in forthcoming US tax code overhaul legislation moving through Congress, and the strategic nature of plans to cut corporate taxes from 35% to 28% by the 'Committee of 29' in Congress seeking a new deficit cutting deal .  Rasmus explains the true picture of corporate taxation in America--i.e. real effective corporate tax rates and trends, share of corporate taxes as percent of government revenues, corporate taxation as percent of corporate profits, offshore shifting of $2 trillion of corporate profits to avoid US taxation, what US corporations actually pay to governments overseas, and other key trends in corporate taxation. Multinational corporate loopholes like 'Irish Double', 'Dutch Sandwich', 'Check the Box', 'Looking Through Rule', and other tax avoidance means are explained. (Watch 'Part 2' of this discussion next week on Alternative Visions, when the US corporate tax 'Race to the Bottom between US states, and the similar broader 'Race to the Bottom' between nation states, are both explained).