Apple leads the list of those avoiding taxes

Daily Mail:

Apple is named the biggest corporate tax avoider in the US after booking $218 BILLION of profit offshore last year
  • Tech giant was able to save $65.08 billion that it should have paid in tax
  • Report reveals top 30 tax avoiders based in America collectively operated a staggering 2,509 tax haven subsidiaries
  • Apple was the top with three foreign subsidiaries, all based in Ireland
  • In second was pharmaceutical giant Pfizer with 181 offshore subsidiaries 
  • Report reveals that last year three quarters of the Fortune 500 companies use subsidiaries in offshore tax havens
  • In the US, this amounted to $715.62 billion in tax that they avoided paying 
This is what happens when you have a confiscatory tax rate for corporations.  If they would lower the rate to a more reasonable number, they would have more money hitting the treasury and also have greater investment in the US economy.

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