Tax Thieves

Last year I had to borrow money to pay my federal income tax-- on a teacher's pension and social security (that's what you get, I guess, for living a frugal life). I hope I don't hammered this year but who knows-- I can't afford sqardrons of lawyers and accountants, but the following folks have no problems with such things.

Sen. Bernie Sanders: A Choice For Corporate America: Are You With America Or The Cayman Islands

...In 2010, Bank of America set up more than 200 subsidiaries in the Cayman Islands (which has a corporate tax rate of 0.0 percent) to avoid paying U.S. taxes. It worked. Not only did Bank of America pay nothing in federal income taxes, but it received a rebate from the IRS worth $1.9 billion that year. They are not alone. In 2010, JP Morgan Chase operated 83 subsidiaries incorporated in offshore tax havens to avoid paying some $4.9 billion in U.S. taxes. That same year Goldman Sachs operated 39 subsidiaries in offshore tax havens to avoid an estimated $3.3 billion in U.S. taxes. Citigroup has paid no federal income taxes for the last four years after receiving a total of $2.5 trillion in financial assistance from the Federal Reserve during the financial crisis...