This week, hundreds of Washington state small business owners affiliated with the Main Street Alliance of Washington sent an open letter to Microsoft calling on tech giant to stop offshore tax dodging, the Seattle Times reports.
According to BloombergBusinessweek, Microsoft tops the list of U.S. tech firms with the biggest overseas profit hauls, holding $76 billion in profits stashed offshore. In their letter, small business owners express their disappointment that Microsoft has joined in coalitions with other big corporate interests lobbying for a permanent tax amnesty on offshore profits – a so-called “territorial” tax system – while backing cuts to Medicare and Social Security that would wreak further havoc on the Main Street economy.
“Small business owners are proud to contribute our fair share. We know that in order to build strong local economies, Read more