On November 5, reports surfaced about a leaked set of documents from a Bermuda law firm that helps corporations and billionaires avoid paying U.S. taxes. Dubbed the “Paradise Papers,” these documents unveil secrets of the ultra-elite and show that there is one set of rules for the rich and powerful, and another for everyone else.
Over a dozen people from Donald Trump’s inner circle are named in the papers, including Commerce Secretary Wilbur Ross, who is shown to have significant business ties with Russian oligarchs, previously undisclosed. Other clients of the Bermuda law firm, Appleby, include major US corporations such as Apple, Nike, and Uber, and we expect to learn more about those company’s finances in the coming days.
Under the Ryan-McConnell-Trump Tax Plan, these same millionaires, billionaires, and wealthy corporations who avoid paying what they owe in U.S. taxes will be rewarded with more tax breaks, and the plan will incentivize companies to send jobs overseas.
We call for an immediate halt to consideration of the current GOP Tax Plan (or #TrumpTaxScam). Stand with us and join us in our call to action that:
Will highlight the need to investigate how corporations and billionaires use offshore loopholes to dodge taxes;
Will blast the Ryan-McConnell-Trump Tax Plan by emphasizing the negative impact of shipping jobs overseas; and
Will slam the GOP Tax Bill as a gift to corporations that will encourage them to NOT pay their fair share!