Oxfam Expert to Sputnik: US Tax System is ‘Rigged’ to Help the Richest

Tales from the Conspiratum

Source: Oxfam Expert to Sputnik: US Tax System is ‘Rigged’ to Help the Richest

http://sputniknews.com
17.04.2016

The US federal tax system is set up to enable the country’s wealthiest companies to hold massive amounts of money offshore, Judy Beals, Director of Private Sector Engagement at Oxfam America, told Sputnik.

A screen shows the US national debt before US Federal Reserve chair Janet Yellen (front L) testifies before the House Financial Services Committee on Capitol Hill in Washington, DC, on February 10, 2016.
© AFP 2016/ NICHOLAS KAMM

In an interview with Sputnik, Judy Beals, Oxfam America’s Director of Private Sector Engagement, confirmed that thanks to US tax loopholes, the country’s wealthiest companies manage to hold massive amount of money offshore.The interview came after the publication of a new report by anti-poverty charity Oxfam, which said that the largest US corporations have nearly 1.5 trillion dollars hidden in tax havens.

“We took a look at the top fifty US companies and pulled together aggregate data on their tax behavior and benefits from the US government, among other things,” she said.

Beals pointed the finger at the US tax system, which she said made it possible for the…

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