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Commentary :: Social Welfare
Offshore Shell Games 2014, 56 pp
18 Oct 2015
Ugland House is a modest five-story office building in the Cayman Islands, yet it is the registered address for 18,857 companies. The Cayman Islands, like many other offshore tax havens, levies no income taxes on companies incorporated there.
to read the 56 page study "Offshore Shell Games 2014, The Use of Offshore Tax Havens by Fortune 500 Companies," June 2014 by Citizens for Tax Justice, visit

http://ctj.org/pdf/offshoreshell2014.pdf

Many large U.S.-based multinational corporations avoid paying U.S. taxes by using accounting tricks to make profits made in America appear to be generated in offshore tax havens—countries with minimal or no taxes.
By booking profits to subsidiaries registered in tax havens, multinational corporations are able to avoid an estimated $90 billion in federal income taxes each year. These subsidiaries are often shell companies with few, if any employees, and which engage in little to no real
business activity.

Congress has left loopholes in our tax code that allow this tax avoidance, which forces ordinary Americans to make up the difference. Every dollar in taxes that corporations avoid by using tax havens must be balanced by higher taxes on individuals, cuts to public investments and
public services, or increased federal debt.
See also:
http://www.freembtranslations.net
http://www.foreffectivegov.org
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$2.1 trillion in corporate fraud!
18 Oct 2015
That is bad. These corporations, run by a clique of elites, demand that they benefit from an expensive public legal system, schools -> educated workforce, vast infrastructure which allows them to function, military and police protection, public energy infrastructure and management - but they don't want to pay for any of it.
Much worse than these tax evasion scams is the biggest scam in all of human history, allowing criminal private banksters to create our money supply out of thin air, 10's of $trillions created in the past decade, and that free money isn't even classified as income, or capital gains - it is non-taxable. Outrageous.
- See more at: http://www.thomhartmann.com/forum/2015/10/offshore-shell-games-2014-56-p