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Tuesday, March 24, 2009

AIG is chump change

It's time to reform offshore banking, and see what untaxed wealth big business is hiding in overseas tax shelters.

Joe Conason's Salon.com article reveals it's high time to demand accountability from a long list of small tax haven countries and principalities where corporate tax evaders have parked breathtaking sums of money in off-shore subsidiaries. This hidden money could be put to use to develop clean energy through solar solutions to invest in education and jobs and reduce poverty in the U.S. and around the world. This article makes the case that we really won't know how much money is there until the books are open and transparent. Read the GAO report that reveals that most of America's top 100 companies operate off-shore subsidiaries.