Politicians in the U.S. and Europe, themselves squirming beneath the burden of sagging economies and disgruntled voters, have rallied popular support by declaring open season on tax shelters, branding them as yet one more example of corporate malfeasance and loosely linking them with the departure of American jobs to other countries. Full Story »
Posted by J Sinclaire
Excellent story covering tax havens and some of the reasons that corporations use them. Covers a major point that grandstanding politicians don't usually mention: most companies that utilize tax havens are perfectly within the tax laws of the US.
Maybe the exorbitantly high rate of corporate taxation is coming home to roost. Additionally, a simplified tax code (Fair Tax) would increase collection rates by decreasing complexity and removing loopholes.
This is a good article and fair, input from both sides of the debate. There could have been a little more discussion of what exactly is a tax haven, but overall a good article that looks at the political side of the issue.
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