Kerry, Obama Push for Senate Investigation of Tax Shelter Abuses

[kpete]

Kerry, Obama Push for Senate Investigation of Tax Shelter Abuses
April 24, 2008 - 11:08 AM


WASHINGTON, DC – Senators John Kerry and Barack Obama sent a letter to the Chairman and Ranking member of the Permanent Subcommittee on Investigations, Sen. Carl Levin and Norm Coleman respectively. Kerry and Obama asked that their colleagues consider investigating government contractors that circumvent paying payroll taxes by hiring employees through offshore shell companies. Last month, Kerry and Obama introduced the Fair Share Act of 2008 to close this tax loophole and save the American taxpayer an estimated $846 million over ten years. In the House, the bill is being sponsored by Reps. Brad Ellsworth and Rahm Emanuel, and was recently included in the Taxpayer Assistance and Simplification Act of 2008.

“Abusing offshore tax loopholes is wrong and at least one greedy company has fleeced the American taxpayer to the tune of hundreds of millions since the Iraq war began,” said Senator Kerry. “The American people who play by the rules and foot the bill for this war in Iraq deserve to know just how many companies are avoiding paying their fair share of taxes and how much it’s costing our economy. The Senate has a responsibility to shed some sunlight on the tax practices of these government contractors, and we will not be satisfied until these kinds of loopholes are eliminated once and for all.”

“It’s the responsibility of American companies to pay their taxes and ensure that their employees’ work is counted for future Social Security and Medicare benefits,” said Senator Obama. “It’s unacceptable for contractors to use foreign shell companies to avoid paying their share of payroll taxes, and that’s why Senator Kerry and I introduced legislation to close this loophole and hold these contractors accountable. I look forward to moving this legislation forward and working to crack down on tax havens and abusive tax shelters.”

letters here:
http://www.johnkerry.com/2008/4/24/kerry-obama-push-for-senate-investigation-of-tax-shelter-abuses

[Frustratedlady]

1. We need to shoot off some emails to these congresscritters and

ask for their support. It would be nice to be able to say Obama was working with Kerry, even though he was fighting for the nomination.

I realize it takes a while, but this needs attention...political race, or not.

What do you think?

[kpete]

2. in many ways

I believe the election is distracting us from too many important issues.

Someone will win, someone will lose -

So much work to do.............