A recent 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.
[vimeo http://vimeo.com/103964219]
Bill Moyers Interview Moyers & Company August 21, 2014
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.” The result? Vast amounts of lost revenue for our treasury and the exporting of much-needed jobs to other countries.
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“I think we can use our tax system to create a better society, to be an expression of our true values,” Stiglitz says. “But if people don’t think that their tax system is fair, they’re not going to want to contribute. It’s going to be difficult to get them to pay. And, unfortunately, right now, our tax system is neither fair nor efficient.”
For the transcript, click here.
A version of this program originally aired on May 30, 2014.
Producer: Candace White. Segment Producer:Robert Booth. Editor: Rob Kuhns. Intro & Outro Producer: Robert Booth. Intro & Outro Editor: Rob Kuhns.
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Just spoke to gathering of human-resource professionals, several of whom told me afterwards they were angry and frustrated with the financial types in their firms who “think only about the short-term bottom line” and don’t consider the long-term well-being of the company and its employees. When I asked them how pay was determined, they said they’re instructed to benchmark what competitors pay their top executives and recommend pay at or above the top of the range, so their firm gets the best. But they’re also instructed to recommend below-average pay for lower-level managers and employees, on the theory those jobs are fungible. The director of HR for one of America’s biggest corporations told me “this can’t go on. A revolution is coming.” Really?
10 Corporate Tax Dodgers You Should Know About Moyers & Company
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