cayman islands

Politics
4:01 pm
Sat July 16, 2011

Levin: It's time to close the overseas tax haven loophole

The sun setting along a beach in the Cayman Islands
(Flickr ebatty)

Michigan Senator Carl Levin says one way to reduce the nation’s federal budget deficit is to close loopholes in overseas tax havens.  Levin says offshore tax loopholes cost the federal treasury 100 billion dollars every year.   He says the complexity of the tax havens make them difficult to trace. 

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