The Bernie Buzz: Stop the Ugland House Scam

On April 15, the income tax deadline for most Americans, Bernie introduced a bill to stop corporations from avoiding their fair share of taxes by stashing profits in the Cayman islands, Bermuda and other tax havens. He spoke at a Capitol news conference in front of a photo of the notorious Ugland House, the Cayman Islands office that is the registered address of more than 18,000 companies. Yes. There are supposedly 18,000 companies doing business in one small building. Needless to say, it's all a scam to avoid paying taxes to the U.S. government.

Nobody is really doing business there. It's just a postal address to allow the companies to claim that they do business in the Cayman islands which has no corporate income tax. “At a time when we have an $18.2 trillion national debt; at a time when many of the largest corporations in America are paying no federal income taxes; and at a time when corporate profits are at an all-time high, it is past time for corporate America to pay their fair share in taxes so that we can address the many problems which this country faces," Bernie said.

http://www.sanders.senate.gov/newsroom/recent-business/offshore-tax-havens?utm_source=berniebuzz&utm_medium=email&utm_content=Headline+IMG+featured&utm_campaign=National+Bernie+Buzz+04-15