It gets tiring to hear the complaints about the allegedly excessive corporate federal tax burden in the U.S., and the need for CEOs to move their offices to more tax-friendly countries. It’s just as bad within the states, where budget-strapped governments are forced to make tax concessions to keep big companies from slinking across the border to save a few million dollars. My home state of Illinois is a present-day example. Facing one of the highest budget deficits in the nation, and barely able to keep vital public services functioning, we were forced to give a tax break of $85 million per year to the Chicago Mercantile Exchange (CME), whose profit margin over the past three years is higher than any of the top 100 companies in the nation.
Read the rest of Paul Buchheit’s column from Common Dreams here.
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