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Report

14 Apr 2016

Author:
Oxfam America

Broken at the Top: How America’s dysfunctional tax system costs billions in corporate tax dodging

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Tax dodging by multinational corporations costs the US approximately $111 billion each year and saps an estimated $100 billion every year from poor countries, preventing crucial investments in education, healthcare, infrastructure, and other forms of poverty reduction. The harm done to Americans and people living in poor countries by corporate tax dodging are two sides of the same coin.  A new analysis by Oxfam of the 50 largest public US companies sheds light on just how rigged the tax system has become and shows that these same companies are using considerable political influence to push for even greater rewards in the forms of loans, bailouts and other government support. The analysis highlights the vast taxpayer-funded support the largest and most profitable US companies receive even as they engage in aggressive schemes to avoid paying taxes...