Burning Issues: U.S. Corporations Evading Taxes

Corporations that have stashed more than $2 trillion in profits offshore to avoid taxes have been angling for legislation that will enable them to pay only a sliver of the taxes they owe on that money, says Frank Clemente, executive director of Americans for Tax Fairness, in this Burning Issues video.

On the effort to push back against this, “Bernie Sanders gets a grade A on this issue,” Clemente says. “He wants these corporations to pay everything they owe in taxes” and close the loophole that allows corporations to legally create offshore entities through which they can launder their profits.

But Clemente says that it remains unclear whether presumptive Democratic nominee Hillary Clinton stands closer to Sanders or to Donald Trump, whose campaign has said would support cutting the tax rate on profits shunted overseas to 10 percent, and cut the overall corporate tax rate to 15 percent from its current 35 percent.

Get updates in your inbox

Comments