Author Thomas Frank discusses revelations regarding tax avoidance by some of the world's wealthiest people; in other news, an analysis of Wikipedia reveals a surprising fact.
A new report finds that multinationals are already evading hundreds of billions in U.S. taxes, even as Congress pushes massive corporate tax cuts.
While the two leading candidates for the presidency, Donald Trump and Hillary Clinton, have indeed suggested cosmetic fixes for a situation that only grows more extreme with the passage of time, they have themselves taken advantage of numerous tax “efficiency” strategies that make money evaporate.
The still-unidentified whistleblower behind the release of 11.5 million documents detailing the practices of international tax evaders says the release triggered debate but not enough action.
Clinton, who promised to crack down on "outrageous tax havens and loopholes" if elected president, has business dealings registered at a building that has helped Wal-Mart, Apple, American Airlines and tens of thousands of other companies avoid hundreds of millions of dollars in taxes.
In mid-April, economist Michael Hudson told The Real News Network that global oil and mining industries and the U.S. State Department created Panama and Liberia for the express purpose of tax evasion.
Despite the heavy media coverage of the tax-havens disclosure, few Western elites have been named at this point.
Although the year-long, concerted effort of hundreds of journalists is an admirable feat, their analysis may be overlooking crucial evidence involving corruption by Western corporations and billionaires.
Long before the Panama Papers made headlines, the Democratic presidential candidate opposed tax-haven abuse in Panama.
The American drug giant has merged with the Dublin-based Allergan not “because some wizard potion has been discovered in the hills of Connemara” but “to dodge tax.”