More states are slashing or eliminating taxes, lessening the burden mostly for the wealthy. What does that cost the rest of us?
Phyllis Taylor’s company is responsible for the longest-running oil spill in U.S. history. That’s been a disaster for the Gulf of Mexico — but a tax bonanza for Taylor.
Aren't museums the rich donate to bringing art to the people? In fact, these days, the rich aren’t taking art to the people. They’re taking art from the people and plopping it into storage vaults that the world’s wealthy use to dodge sales taxes.
The Pandora Papers show the US to be a global center of illicit financial flows. Building the political will to curb this requires action in national capitals and global institutions, and also in all the jurisdictions where wealth is hidden.
Among the tech companies studied, Amazon "stands out as the business with the poorest tax conduct," according to the U.K.-based Fair Tax Mark.
Charity analysis of the 50 biggest US businesses claims Apple have $181bn held offshore, while General Electric has $119bn and Microsoft $108bn
Poorer nations lose three times more money to havens a year than they get in aid. The G8 has the chance to change this.
Under legislation proposed by Sen. Bernie Sanders (I-VT) and Rep. Jan Schakowsky (D-IL), corporations would pay U.S. taxes on their offshore profits as they are earned. The legislation would take away the tax incentives for corporations to move jobs offshore or to shift profits offshore because the U.S. would tax their profits no matter where they are generated.
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