Bill Moyers Sunday at 6:30 PM on KFCF 88.1 fm and streaming at kfcf . org Joseph Stiglitz says that cracking down on corporate tax dodgers could be a cure for inequality & our faltering economy. A new report by Nobel Prize-winning economist Joseph E. Stiglitz for the Roosevelt Institute suggests that paying our fair share of taxes and cracking down on corporate tax dodgers could be a cure for inequality and a faltering economy. This week on Moyers & Company, Stiglitz tells Bill Moyers that Apple, Google, GE and a host of other Fortune 500 companies are creating what amounts to “an unlimited IRA for corporations,” some of them paying no taxes whatsoever. The result? Vast amounts of lost revenue for our treasury and the exporting of much-needed jobs to other countries. “I think we can use our tax system to create a better society, to be an expression of our true values.” Stiglitz tells Bill Moyers. “But if people dont think that their tax system is fair, theyre not going to want to contribute. Its going to be difficult to get them to pay. And, unfortunately, right now, our tax system is neither fair nor efficient.” Stiglitz continues, “We have a tax system that reflects not the interest of the middle. We have a tax system that reflects the interest of the one percent… What I want to do is create a tax system that has incentives to create jobs. And if you tell a corporation, ‘Look, if you dont create jobs, youre taking out of our system, youre not putting anything back, youre going to pay a high tax. But if you put back into our system by investing, then you can get your tax rate down.’ That seems to me common sense, particularly in a time like today, when 20 million Americans need a full-time job and cant get one.” Joseph Stiglitz’s best-selling books, including The Price of Inequality, The Trillion Dollar War and Freefall have shaped worldwide debates on globalization, income inequality and the role of government in the financial marketplace. He is currently a professor at Columbia University, a senior fellow at the Roosevelt Institute and president of the International Economic Association. Stiglitz served as chairman of the Council of Economic Advisers under President Bill Clinton, and as chief economist of the World Bank.
Posted on: Sat, 31 May 2014 09:30:49 +0000
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