The Biggest Losers of Corporate Tax Avoidance

Corporate income tax revenue as a share of GDP has been slashed from three and a half percent in the 1960s to one percent today. In 2015, US companies booked 46 billion dollars in profits in the Cayman Islands alone. More than half of multinational corporate profits are booked in foreign tax havens. The fruits of the American system are funding other nations prosperity in exchange for lower tax rates on corporations,. which again transfer wealth from the poor to the rich.