Surviving Capitalism (Not) : Congressional Research Service Finds Evidence of Massive Tax Avoidance by U.S. Corporations Using Tax Havens

We’ve lived so long under the spell of hierarchy—from god-kings to feudal lords to party bosses—that only recently have we awakened to see not only that “regular” citizens have the capacity for self-governance, but that without their engagement our huge global crises cannot be addressed. The changes needed for human society simply to survive, let alone thrive, are so profound that the only way we will move toward them is if we ourselves, regular citizens, feel meaningful ownership of solutions through direct engagement. Our problems are too big, interrelated, and pervasive to yield to directives from on high.
—Frances Moore Lappé, excerpt from Time for Progressives to Grow Up

Thursday, January 31, 2013

Congressional Research Service Finds Evidence of Massive Tax Avoidance by U.S. Corporations Using Tax Havens

Click here to access article from Citizens for Tax Justice.\

A new report from the non-partisan Congressional Research Service (CRS) finds that U.S. corporations report a huge share of their profits as officially earned in small, low-tax countries where they have very little investment and workforce while reporting a much smaller percentage of their profits in larger, industrial countries where they actually have massive investments and workforces. The report confirms that U.S. corporations are artificially inflating the proportion of their global profits that are generated in small, low-tax countries — in other words, shifting their profits to tax havens.

You can be sure that this report will never be referred to in the One Percent's media.