Ever hear of a double irish? How about a Dutch Sandwich? These aren't cocktails or bar snacks but rather complex financial strategies used by many American companies to transfer profits they earn abroad to countries with the lowest tax rates. Despite the goofy nicknames, these techniques have a serious purpose: to keep money away from the U.S. whenever possible to avoid paying the higher tax rates in effect at home. Ireland, for instance, taxes corporate earnings at 12.5%, compared with the U.S. rate of 35%.
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