Credit Suisse is in a lot of trouble over tens of thousands of offshore bank accounts that helped wealthy Americans dodge their U.S. taxes. The bank’s CEO, Brady Dougan, told a U.S. Senate Subcommittee this week that bank management wasn’t aware of the sketchy practices used to manage these accounts, and blamed them on a few bad bankers. Let’s see if his story adds up.
Holiday shopping can be tough. How do you know what to get for those on your list who already have it all? We’ve got you covered. Here’s what we think is on the Christmas wish lists of some of the best corporate tax dodgers out there. If they’re not on your list for gifts, they should be — because corporations are people too, you know.
Big corporations like Apple, Google and Bank of America have had to make some interesting homes for themselves, in order to get out of paying their fair share of U.S. taxes. They create dummy companies in countries or places where taxes are low, then shift profits over to those companies. It saves the corporations a collective $90 billion in U.S. taxes every year. That’s great for corporations, but not so great for Americans who care about things like education, healthcare, or, you know, paved roads. If you think you’ve had to deal with a lot of roommates, read on.