According to a new report from Citizens for Tax Justice and the U.S. Public Interest Research Group, the majority of America’s Fortune 500 companies are cheating the tax man to the amount of approximately $90 billion by using offshore tax havens. That cheating leaves the rest of US taxpayers on the hook to make up the difference.
|By: DSWright Friday June 6, 2014 2:16 pm|
|By: masaccio Friday May 6, 2011 4:44 pm|
Corporations want to bring some money home from tax havens to the US, but in true Galtian fashion, refuse to pay taxes on it. They got what they wanted under the Republicans in 2004, but the Democrats stopped them in 2009. Fool me once… surely Congress won’t get fooled again. Will it?
|By: Yves Smith Saturday April 30, 2011 1:59 pm|
Treasure Islands tells us that tax havens are much larger and much more destructive than most might realize, yet at the same time enjoy much more unofficial and formal support from governments in advanced economies than many of us want to believe.