Elizabeth Warren: The game is rigged for big multinational corporations, which get tax breaks to ship U.S. jobs overseas

August 6, 2012
By

Elizabeth Warren is feared by Republicans and Democrats alike. The Harvard Law School professor, now Scott Brown’s opponent for the Senate, is never afraid to call out the powers that be.

 

 

 

 

 

 

 

 

 

In an article for Politico Ms. Warren writes:

Small-business owners bust their tails every day. They’re the first ones in and the last to leave, six and often seven days a week. That’s how my Aunt Alice ran her small restaurant, where I worked as a kid. My brother and my daughter both started small businesses. And I’ve visited and talked with small-business owners across Massachusetts. From the insurance agency in Brockton to the coffee shop in Greenfield and the manufacturing plant in Lawrence — all started and run by people with good ideas and a determination to succeed.

I believe in small businesses. They’re the heart and soul of our economy. They create jobs and opportunities for the future.

Washington politicians line up 10-deep to claim they support small businesses, but they avoid talking about a harsh reality: The system is rigged against small business. These owners can’t afford armies of lobbyists in D.C., but the big corporations can. It’s those armies of lobbyists that create the loopholes and special breaks that let big corporations off the hook for paying taxes. While small businesses are left to pay the bills.

We’ve got to close those loopholes and end the special breaks — so small businesses have a level playing field and a fair chance to succeed.

Recently, Sen. Lindsey Graham (R-S.C.) said when asked about Mitt Romney’s offshore tax havens, “It’s really American to avoid paying taxes, legally…. It’s a game we play. … I see nothing wrong with playing the game because we set it up to be a game.”

Warren responds, “Graham is right about one thing — it’s a game for some. It’s a rigged game that benefits big corporations and billionaires who can deploy armies of lobbyists and lawyers to create those tax loopholes and then exploit them.”

The game is rigged to work for profitable oil companies, who made $137 billion in profits last year — and still collected billions of dollars’ worth of government subsidies. The game is rigged to work for big multinational corporations, which get tax breaks to ship U.S. jobs overseas and park investments abroad. The game is rigged to work for hedge fund managers and billionaires, who pay lower tax rates than their secretaries. Meanwhile, their Republican allies are making sure the rules stay rigged in their favor.

Ms. Warren does not fear calling out big Corporate misconduct, Big Oil and loopholes which keep the middle class and small businesses down in the ranks of wage earners.

We face a real choice in this country between the Republicans’ “I’ve got mine,” approach and the belief that, as a nation, we reward success and hard work — keeping the playing field level so that everyone with a good idea, a dream of making it big and plenty of determination has a chance to make it.

We must be committed to the American dream, the approach that made us the most prosperous and strongest country in the world and built a future of opportunity for our children and grandchildren.

The choice is ours.

I’ll leave you with Elizabeth Warren’s new ad. Watch:

Donate to Elizabeth Warren for Senate here. 

I’m waiting for my new Elizabeth Warren t-shirt to arrive in the mail. (Yes, that was another hint to donate to Elizabeth).

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  • http://www.facebook.com/profile.php?id=21201914 Pat Shane
  • Johns_humidor

    Corporations are only playing by the rules written by people who were voted in by us. These same corporations and their rich masters would love a simple flat tax instead of the millions of pages of tax code that exists now. The problem with a simple tax system is it take power away from the people who write the laws.

  • http://profile.yahoo.com/WKMD6PE4FQVFYTN3A4NVVP5PAY Dylan

    a perfect example of this is the billionaire Mitt Romney

  • Anonnotsoanon

    Do you know what is good with gov. regulation? You can draw a line under which things aren’t acceptable, then you check statistics for which type of companies that uphold worklaws best – small or large, national vs global. So if they don’t want to pay as much tax, follow a certain regulation? -Fine, then small business gets to take the marketshares…

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