More on Inversions, this time from an article in Rolling Stone

The following Rolling Stone article says: “In July (2014) an American pharmaceutical giant earned raves for acquiring a European rival – and not for the potential scientific advances. Corporations are parking profits overseas, ducking hundreds of billions in taxes, and being commended for it.” This little accounting trick is called an inversion and just like magic tax money a corporation should be paying to the United States legally disappears. Only problem is someone else is left to pay the bills here at home.

 

Posted in Books, Corporations, Inequality, Taxes and tagged , .

Leave a Reply

Your email address will not be published. Required fields are marked *