The loophole is said to have cost other states more than $9bn in lost taxes over the past decade and led to Delaware to be described as “one of the world’s biggest havens for tax avoidance and evasion”.
But it’s not just big corporations that have chosen to make 1209 North Orange their official home.
Both the leading candidates for president – Hillary Clinton and Donald Trump – have companies registered at 1209 North Orange, and have refused to explain why...
"Losing $90 billion of potential tax revenues every year is a very big deal," Neil Buchanan, a professor at George Washington University, said... Politicians who respond to proposals to fund these programs by saying that ‘we can't afford it’ are simply saying, ‘I'd rather cut Apple's tax bill than educate our children.’"...
"US corporate tax collection as a percentage of GDP is currently at an all time low. This means the U.S. government has to compensate for the shortfall from other sources (read: domestic taxpayers with no multinational activity) and cut public spending. There is, of course, an alternative: to change the law so Apple actually pays taxes on this income. In current Congressional environment, this will happen immediately after hell freezes over."
This is what "freedom" and a "business-friendly" environment amount to — a colossal grift.