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Original tea parties protested special corporate tax breaks

Thanks to my friends at the Oregon Center for Public Policy Research (OCPP) for calling to my attention the fact that the original tax tea party was actually a protest against a special corporate tax break for the East India Tea Company. From OCPP’s release:

“The Boston Tea Party, in which American colonists dumped British tea into Boston Harbor, was an act of defiance against the Tea Act of 1773, which gave a tax break to the British East India Company. As noted by the Boston Tea Party Historical Society, the tax break was an effort by the British Crown to help the East India Company establish a tea monopoly in the American colonies.”

Sound familiar? It should. We have been letting special corporate tax breaks and loopholes run amuck right here in our own home state. We need our state leaders to re-examine every corporate tax credit, exemption, deduction, and special rate AND to enact Mandatory Combined Reporting so that large-multi state corporations (like the old East India Company) pay what they rightly owe to the state of North Carolina. We could then use those funds to invest in things that grow the economy, like community colleges, or lower taxes on smaller, homegrown businesses. Now that would be something to party about.

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