Sen. Elizabeth Warren has teamed up with Republican Sen. Tom Coburn of Oklahoma to introduce a bill that takes aim at the efficacy and malfeasance of government settlements on corporate wrongdoing and could bring billions of dollars back to taxpayers. If corporations have the same rights as people, then they should have to suffer the same consequences.
Apple isn’t the only major American corporation hiding profits abroad. Lauren Feeney at the Moyers & Company blog has assembled a list of 10 companies that paid little to no taxes last year, and another 10 that added at least $5 billion to their offshore tax havens.
Questions about Republican presidential nominee Mitt Romney’s record at Bain Capital are not likely to go away any time soon, especially now that it’s been revealed that Bain is among a number of major private equity firms under investigation by the New York state attorney general’s office for tax-related reasons.