When US companies like Halliburton or Caterpillar change their corporate headquarters to the Cayman Islands, they don't move their offices, just their legal mailing address for tax purposes. Why? So they don't have to pay taxes in the US. It's a complicated loopholes and I am simplifying the technique, but you get the idea.
These corporations are making their profits in the US and then stealing the tax dollars they should be paying on their gains.
President Obama has proposed changing the tax laws to close this loophole. In the process the US will get several billion in taxes in the next few years, and we need that.
It's about time!
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