Saturday, October 1, 2016

Action Page

This can happen. The Chairman of the Senate Finance Committee is planning to publish a tax reform proposal based on the dividends paid deduction. Let your two Senators and U.S. Representative know that you want the fair, effective and revenue-positive Shared Economic Growth proposal!

How? Go to the U.S. Senate website http://www.senate.gov/index.htm , choose your state at the top right corner to find your Senators, and under each one choose the "contact" option and click on the link. In the message submission form that pops up, enter your information, then copy the text below and paste it into the body of your message. (Feel free to customize it to add your own thoughts), then hit "submit.


Now, do the same thing for your U.S. representative by going to http://www.house.gov/ and entering your zip code in the Find Your Representative box. Choose your representative, and from their home page choose Contact to bring up the message form. Again, enter your details, paste in the text below, and hit submit.



If you have time, please also copy the text into a fax, using either a fax machine or the free fax service at http://www.bestfreefax.com/BFFSendFreeFax.php , and send it to Senator Orrin Hatch, Chairman of the Senate Finance Committee, at 202-228-0554 . Chairman Hatch is working on a tax proposal based on the dividends-paid deduction to be issued in the next few months. We want to help him to get it right.

If you are a Change.org user, please also sign our petition

It's fast, it's easy, and it will help to save our economy!


Cut and paste the text below:


Please sponsor the Shared Economic Growth tax reform proposal. The bill text is at the link below, and a full explanation can be found at http://digitalcommons.pace.edu/plr/vol35/iss3/4/. Only Shared Economic Growth can do all of the following in a revenue-positive manner:
1.     Make the U.S.A. the most attractive location on the planet for American companies to locate their high-value operations, so that American workers would regain market power;
2.     Allow corporations to bring cash home to invest in those high-value operations;
3.     Enable American firms to compete effectively against their foreign rivals;
4.     Provide a benefit to middle-class workers who do the right thing and save money for their children’s educations and for retirement;
5.     Avoid increasing the deficit today, and  provide substantial additional revenues and private savings in order to help prevent a fiscal crisis as the baby boomers retire;
6.     Eliminate the incentive for corporations to take on too much destabilizing debt by eliminating the tax advantage of debt financing;
7.     Improve the efficiency of our economy by unlocking cash and encouraging its rapid flow to the most efficient investments;
8.     Put an end to corporate tax shenanigans and solve the problem of corporate tax shelters and the complexities of transfer pricing enforcement;
9.     Put C corporations on the same tax footing as pass-through entities, without double taxation of corporate earnings, eliminating tax distortion of entity choice;
10.  Increase corporate responsiveness to shareholders and regulators;
11. End the practice of compensating corporate executives for artificial “growth” that consists only of retaining earnings rather than paying them out as dividends; and
12. Improve the efficiency of our allocation of talent by eliminating the strong tax preference for pursuing unproductive – and often destructive - speculation rather than productive work, while at the same time improving the fairness of our tax system 

The text of the Bill can be found at http://sharedgrowth.blogspot.com/2013/03/shared-economic-growth-draft-bill-and.html

Thank you.