No help to firms abusing offshore tax havens
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Criminally, many bailed out corporations dodge US taxes with numerous subsidiaries in offshore tax havens, according to a recently released report by the Government Accountability Office. These firms include A.I.G., Bank of America, CitiGroup, Morgan Stanley, J.P. Morgan Chase, Wells Fargo, General Motors and G.M.'s financing arm, G.M.A.C.. This is an outrage! Corporations, especially those receiving huge taxpayer bailouts, have a clear obligation to pay their full share of taxes. The White House and Congress must require these companies to divest of all offshore tax haven subsidiaries before receiving further taxpayer assistance, now.
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