Tax

News Release | CALPIRG Education Fund | Tax

Offshore Tax Dodging Blows a $7 Billion Hole in California Budget:

Sacramento, February 5th – With California “on the move” with its budget CALPIRG released a new study revealing that California lost $7.147 Billion due to offshore tax dodging in 2012. Many of America’s wealthiest individuals and largest corporations, including Wells Fargo in California, use tax loopholes to shift profits made in America to offshore tax havens, where they pay little to no taxes.

Report | CALPIRG Education Fund | Tax

The Hidden Cost of Offshore Tax Havens

When U.S. corporations and wealthy individuals use offshore tax havens to avoid paying taxes to the federal government, it is an abuse of our tax system. Tax haven abusers benefit from our markets, infrastructure, educated workforce, and security, but they pay next to nothing for these benefits. Ultimately, taxpayers must pick up the tab, either in the form of higher taxes, cuts to public spending priorities, or increased national debt. 

News Release | CALPIRG Education Fund | Budget, Democracy, Tax

California Cities Are Nation’s Best & Worst for Spending Transparency

New report reviews and grades the nation’s thirty largest cities on how effectively they allow the public to track budgets, contracting, subsidies, grants and requests for quality-of-life services.

Report | CALPIRG Education Fund | Food, Tax

Apples to Twinkies 2012

At a time when America is facing an obesity epidemic, crushing debt and a weak economy, billions of taxpayer dollars are subsidizing junk food ingredients.

News Release | CALPIRG Education Fund | Food, Tax

Ag Subsidies Pay for 21 Twinkies per Taxpayer, But Only Half of an Apple Apiece

Tax subsidies for commodity crops are paying for junk food additives like high fructose corn syrup, enough to pay for 21 Twinkies per taxpayer every year.

News Release | CALPIRG Education Fund | Tax

Offshore Tax Havens Cost Average California Taxpayers $423 a Year, Each California Small Business $2,010

With tax day approaching, a new study released by CALPIRG found that the average California taxpayer in 2011 would have to shoulder an extra $423 tax burden to make up for revenue lost from corporations and wealthy individuals shifting income to offshore tax havens. The report additionally found that to cover the cost of the corporate abuse of tax havens in 2011, small businesses in California would have to foot a bill of over $2,010 on average.

Report | CALPIRG Education Fund | Tax

Picking up the tab

Some U.S.-based multinational firms or individuals avoid paying U.S. taxes by transferring their earnings to tax haven countries with minimal or no taxes. These tax haven users benefit from their access to America’s markets, workforce, infrastructure and security; but they pay little or nothing for it—violating the basic fairness of the tax system and forcing other taxpayers to pick up the tab.

Tax Credits For Oil Spills

By

From guest blogger Chris Jones: My brother, Gordon Jones, was one of the eleven hard-working men killed aboard the Deepwater Horizon deepwater oil rig in the Gulf of Mexico on April 20, 2010. Unlike BP, I believe my brother was more than a number or tax credit.

FTC Supports Do Not Track, Meekly

By

The Federal Trade Commission (FTC) released today a new report calling on Internet companies to put in place a "Do Not Track" system that would give consumers more control over their personal data online by the end of the year . The FTC also called on Congress to pass privacy legislation that would allow consumers to see how their online data is collected, used and sold, and give consumers the ability to stop such practices. 
 

CFPB launches new consumer Q&A resource page

By | Jon Fox
Consumer Advocate

The CFPB launches a new interactive online tool that helps consumers find answers to their basic financial questions.

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