CLEAN : Oxfam: US firms stash $1.4 tn in offshore tax havens

The video examines the tax practices of the top 50 American corporations, revealing that $1.4 trillion is held in offshore tax havens, depriving the U.S. of $100 billion in tax revenue. The report aims to highlight how the global tax system encourages such behavior, affecting both developed and developing countries by reducing funds for public services. The system is described as rigged against all countries, with average citizens bearing the cost. The video calls for institutions like the World Bank to lead discussions on responsible tax practices.

What was the main finding regarding the tax practices of the top 50 American corporations?

• They were all small businesses.

• They invested heavily in local communities.

• They had $1.4 trillion in offshore tax havens.

• They paid all their taxes on time.

How does the global system affect the flow of money according to the second section?

• It promotes the flow of money to tax havens.

• It increases tax revenue for all countries.

• It encourages money to stay within the country.

• It discourages the use of shell companies.

What is one consequence of the current tax system on developed and developing countries?

• Increased funding for public services.

• Equal distribution of tax revenue.

• Deprivation of important income for public services.

• Higher tax rates for corporations.

Who is primarily paying for the infrastructure that benefits large corporations?

• The corporations themselves.

• The World Bank.

• Middle class, lower class, and working class citizens.

• Foreign investors.

What role should institutions like the World Bank play in addressing tax practices?

• They should ignore tax practices.

• They should lead discussions on responsible tax behavior.

• They should only focus on lending.

• They should increase their own tax rates.