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" Even in the face of the Paradise Papers revelations -- which shine another spotlight on how the rich and powerful game the system to avoid paying taxes they would owe -- the GOP wants to lower taxes on big corporations & rich individuals even further. According to an analysis by the Committee for a Responsible Federal Budget, $1 trillion of the overall $1.5 trillion cost is from cuts for businesses." 63 percent of foreign profits made by American multinational corporations are stuffed in these subsidiaries and accounts, depriving the country of about $70 billion in tax revenue each year. Many of these maneuvers are perfectly legal, but it isn’t a victimless act when companies and the wealthy shield their money from our government. The missing billions from corporate offshore tax avoidance would go a long way to repair infrastructure fund schools and health care. "
At www.nytimes.com
