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Guess who pays the bill?

It is common knowledge that American corporations avoid taxes by running U.S. profits through off shore “tax havens” like the Cayman Islands and Bermuda, but a recent Bloomberg Business Week investigation traced the specific steps that the pharmaceutical company Forest Labs takes to short the U.S. Treasury.
Although Forest’s anti-depressant Lexapro is sold only in the U.S., the company’s patent is held by an Irish subsidiary.
And since 2005, shared with a Bermuda subsidiary in a tax-code hocus-pocus that insiders call the “Double Irish,” which allows the vast majority of the $2 billion Forest earns ...

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