US corporate giants such as Apple, Walmart and General Electric have stashed $1.4tn (£980bn) in tax havens, despite receiving trillions of dollars in taxpayer support, according to a report by anti-poverty charity Oxfam.<br />Tax havens don’t need to be reformed. They should be outlawed<br /><br />The Panama Papers demonstrate that for all the fine words about transparency on tax, the world’s kleptocrats are still getting away with it<br /><br />The sum, larger than the economic output of Russia, South Korea and Spain, is held in an “opaque and secretive network” of 1,608 subsidiaries based offshore, said Oxfam.<br /><br />Full story: http://www.theguardian.com/world/2016/apr/14/us-corporations-14-trillion-hidden-tax-havens-oxfam<br /><br />SUBSCRIBE<br />http://www.youtube.com/MikeMalloyVideo<br /><br />PLEASE SUPPORT THE MIKE MALLOY YOUTUBE CHANNEL<br />http://tinyurl.com/MalloyChannelDonations
