When we think of corporate tax havens, we often think of offshore accounts. Well, think again: the United States has become a giant tax haven for corporations. Thats whats so crazy about the current call to lower corporate tax rates in the United Stats: theyre already (as graph below shows) paying a historically low percentage of federal tax revenues.
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The fact is, were being held hostageby corporations and mainstream economists aliketo the idea that one tiny group in society has the right to appropriate most of the surplus and to decide when and where most jobs will be created. And, if it doesnt get its way, itll deploy its capital elsewhere.
Thats why the United States has become a giant corporate tax haven. And, if things continue as they are, itll become an empty shelljust as empty as those offshore headquarters corporations have been using to avoid taxes on their profits.
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