In 2016 there was the explosive leak to the ICIJ (International Consortium of Investigate Journalists) of a massive trove of documents called the Panama Papers from the firm Mossack Fonseca that revealed how that company created massive numbers of offshore shell companies to move money around all over the world to hide the wealth of the global elite so that they could avoid paying taxes. It led to a series of news reports (see here, here, and here) that showed that this was just the tip of the iceberg, that there were many legal and accounting firms operating in small and big countries around the world who were taking advantage of convenient loopholes placed in the tax codes of thosecountries. The US turns out to be one of the biggest tax havens, with the state of Delaware (Joe Biden’s home state, incidentally) being the most accommodating of all these shenanigans.
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