Recently, Senator Ron Wyden published this OpEd in USA Today: Trump's capital gains tax idea is handout to the rich, broken promise to workers
Sen. Wyden demonstrates how little Trump’s proposed capital gains tax will benefit the majority of people living in our country. Instead of growing the Main Street economy, Trump’s plan will only further line the pockets of CEOs and the wealthiest one percent and siphon from essential programs like affordable healthcare, Medicaid, food assistance, and Social Security.Read more
Small-business owners slam AmEx over Excessive Fees, Tax Dodging
A fact sheet on American Express’s abusive behavior toward small businesses and on the company’s tax dodging is available here
The Main Street Alliance, a national network of small-business owners, is denouncing the hypocrisy of American Express for championing small-business shopping on the Saturday after Thanksgiving, while the credit card giant’s financial and tax practices hurt Main Street businesses every day.
Now in its fourth year, “Small Business Saturday” is the marketing invention of American Express, encouraging consumers to “Shop Small” the Saturday after Thanksgiving by using their American Express cards at participating businesses. American Express launched the marketing initiative just a month after the U.S. Justice Department filed an antitrust lawsuit against the company in 2010.
Small-business owners criticize the company for imposing the credit card industry’s highest “swipe fees” at 3.5 percent, and for its record of tax dodging that includes stashing $8.5 billion in profits offshore, which are not currently subject to U.S. taxes.
The Main Street Alliance encourages consumers to support small businesses this holiday season by shopping locally and paying for their purchases with cash.
But, American Express? Leave home without it.