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Senate Report Warns Tax-Haven Usage Beyond Government Control

HeadlineAug 02, 2006

In other news, a new Senate report is warning about the use of off-shore tax havens by wealthy Americans. The cheating accounts for up to $70 billion dollars per year. That’s seven cents out of each dollar paid by regular taxpayers. Michigan Democratic Senator Carl Levin, who headed the investigation, said: “Offshore tax cheating has become so large that no one, not even the United States government, could go after all of it.”

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