tag:blogger.com,1999:blog-5888314760091661875.post4691645036289899142..comments2023-11-03T03:52:37.873-05:00Comments on Cognitive Dissidence: Business leaders call for closing corporate tax loopholesSomebody DO Something!http://www.blogger.com/profile/08717747685928127724noreply@blogger.comBlogger1125tag:blogger.com,1999:blog-5888314760091661875.post-89969452536057342172012-12-26T12:58:26.103-06:002012-12-26T12:58:26.103-06:00Another scam used by multinational corporations is...Another scam used by multinational corporations is to transfer profits made in the U.S. to a subsidiary located in a country -Cayman Islands- that doesn't have a corporate income tax. To make matters worse, they then transfer their losses in non-taxing countries back to the U.S. and use them to offset past or future taxes.<br /><br />This explains how a large corporation can pay no income taxes and yet collect tax rebates.<br />It's a sweet racket. Doesn't it just make you want to participate in shared sacrifice? <br /><br />Garethnoreply@blogger.com