A word from America’s Senator:
Sanders reveals how many of the CEOs who issued the statement have evaded at least $34.5 billion in taxes through more than 600 subsidiaries in the Cayman Islands and other offshore tax havens since 2008. Roughly a dozen of their companies did not pay federal income taxes at all in recent years and some received an additional $6.4 billion in tax refunds from the IRS since 2008. Many of the companies were among those who received the $2.5 trillion from the Federal Reserve following the banking industry induced financial crisis.
In addition, many of those companies are responsible for vast amounts of unemployment, due to the practice of employment outsourcing to foreign countries.
All of these actions, Sanders argues, are direct causes of the American deficit. The hypocrisy in the CEOs’ “lecture to the American people” is stifling.