Buying political favor for the few inevitably leads to more - TopicsExpress

Buying political favor for the few inevitably leads to more hardship for the many. As the corporate contribution to federal taxes dropped from 32% in 1952 to only 9% in 2013, individual taxpayers had to make up the difference and to be sure, the super rich did all they could to avoid that burden. That left the broad section of American working people stuck with most of the tab. More subversively, corporations and the wealthy discovered new ways to move money offshore in order to avoid taxes. What would have been impossible to even openly discuss in the 1960s is now common practice. Large corporations simply keep their global profits in foreign subsidiaries. (They often can do so just by switching accounts in Wall Street banks without the money ever leaving the country.) As the chart below shows, this practice is growing rapidly.

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