Small business groups have joined forces with Sen. Carl Levin (D-Mich.) to block offshore tax havens for large companies and wealthy Americans that come at the expense of job producing enterprises, according to The New York Times. Or have they?
Although Sen. Levin has never been a friend of the free market system in the past, he has suddenly developed a concern for law abiding business owners who lose out when more sizable corporate operations exploit tax shelters, a July report informs readers.
Three non-profit organizations — the American Sustainable Business Council, Business for Shared Prosperity and Wealth for the Common Good — are indentified as the primary authors of a 25 page report that calls out multinational companies for avoiding $37 billion in federal taxes; an estimate that is probably on the low end.
“The campaign is unusual because it is the first time that small businesses have organized to combat offshore tax avoidance and evasion in a significant way,” The Times observes. But instead of investigating the coalition’s self-proclaimed business concerns, the Gray Lady blithely invokes the report’s major recommendations, which are not reflective of free market values.
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