Questioning Corporate Taxes: 'Offshoring' Costs Each Bay Stater $608 a Year

from The Boston Herald -

by Jerry Kronenberg

Local activists want Goldman Sachs to pay more tax.

Dozens of protesters staged a Tax Day rally outside the Wall Street giant's Boston offices yesterday, opposing loopholes they say Goldman and other corporations use to avoid taxes. 

'We think profitable corporations should be paying their fair share of taxes,' said Deirdre Cummings of U.S. Public Interest Research Groups, the activist organization that co-sponsored protests with the group MoveOn.org at corporate offices around the country.

The organizations also released a study estimating individual taxpayers forked over an extra $100 billion in 2010 due to corporate 'offshoring,' in which companies book profits at foreign subsidiaries to minimize U.S. tax bills.

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Read article at The Boston Herald web site