Thursday, February 07, 2013
Closing the Loopholes
With the failure of the US federal government to police financial fraud by American corporations, state governments suffering financial losses and declining public services are looking for ways to close the loopholes created by Congress. Instrumental in that effort is closing down tax havens and money-laundering. In their latest report on the subject, Public Interest Research Group examines The Hidden Cost of Offshore Tax Havens, and recommends remedies US states can take toward recovering their losses and restoring fairness to the tax system.