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2016-04-14 — theguardian.com
The sum, larger than the economic output of Russia, South Korea and Spain, is held in an "opaque and secretive network" of 1,608 subsidiaries based offshore, said Oxfam. The charity's analysis of the financial affairs of the 50 biggest US corporations comes amid intense scrutiny of tax havens following the leak of the Panama Papers. [Oxfam] pointed out that the companies had also enjoyed a combined $11.2tn in federal loans, bailouts and loan guarantees during the same period.
...
"For every $1 spent on lobbying, these 50 companies collectively received $130 in tax breaks and more than $4,000 in federal loans, loan guarantees and bailouts," said Oxfam.
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