Hostile Takeover...Taxes

Yesterday I posted that each day this week, I will be posting quotes from each chapter of David Sirota's book, Hostile Takeover. The first chapter is on taxes.

A 2004 GAO report found that more than 27,000 Pentagon contractors owe federal government $3 billion in undpaid taxes. A follow-up study the next year found an additional 33,000 contractors for civilian agencies owe $3 billion more. The government could cut off these cheats by terminating their federal contracts. Or at the very least, officials could follow a 1997 law that requires federal agencies to withhold15 percent from payments to individuals or businesses with unpaid tax bills. Yet that hasn't happened, likely because many of those tax evaders are big donors to politicians of both parties. Meanwhile, companies that abuse offshore tax havens continue to recieve almost $1billion in US government contracts each year, despite the fact they are brazenly stealing money from American taxpayers. In all, corporate delinquency, refusal to pay, and tax evasion rob America up to $40 billion a year - more than the annual budget of the Department of the Homeland Security.

When it comes to wasting taxpayer's money, CIETC can't hold a candle to the amount of money that corporations fail to pay in taxes.