Monday, 2 February 2009
When President Obama was merely a Senator, he introduced the "Stop Tax Haven Abuse" bill with co-sponsors Carl Levin (Democrat) and Norman Coleman (Republican) - saying that "We need to crack down on individuals and businesses that abuse our tax laws so that those who work hard and play by the rules aren't disadvantaged". Sadly the bill ran out of time.
One area for positive transatlantic activity would be for such legislation to be passed both sides of "the pond". The Guardian has today started a series on the "Tax gap" in the UK Ordinary citizens are having to stump up more (and will be required to pay even more in the future) to make up for household name companies who are taking lots out, but increasingly putting less in. It's worth visiting the Guardian site on the issue at http://www.guardian.co.uk/business/series/tax-gap