The U.S. Companies With The Most Offshore Cash [Infographic]
The use of tax havens is ubiquitous across America’s 500 largest companies. Collectively, they hold $2.1 trillion in offshore cash. Establishing foreign subsidiaries in places with little or no tax such as Bermuda or the Cayman Islands, has allowed them to avoid an estimated $90 billion in federal income taxes each year. Read more
Rachel Maddow: “How would you get American companies, at the corporate level, to invest more in employee pay, to invest more in employee training, expansion of their businesses, instead of putting so much of their profit in the pockets of their CEOs and their Wall Street investors?”
Sanders: “Excellent question. And the answer is, among other things, we have to end our disastrous trade policies and create jobs in [the US] rather than just in China. Textile industry here, very significantly impacted by bad trade agreements. […] And we’re not gonna give huge tax breaks anymore to large corporations who are putting their profits in the Caymen Islands and Bermuda and not paying a nickle in federal taxes. We’re gonna use that tax money to rebuild our crumbling infrastructure and create up to 13 millions good paying jobs.”
Sony’s Cloudy with a Chance of Meatballs was first released on September 18, 2009.
The island on which the town of Swallow Falls (later Chewandswallow) is located corresponds to the real-life geographic location of Bermuda. This is implied at the beginning when the island is said to be under the first “A” in Atlantic, as Bermuda is the only island in the West Atlantic north of the tropics. (x)