US Surpasses Cayman Islands to Become Second Largest Tax Haven on Earth

Proving its role in the global race to the bottom on tax avoidance and  contributing to a multitude of abuses around the world, the United States is now second-largest tax haven on the planet, according to an updated international index. The Tax Justice Network found that the U.S. has surpassed the Cayman Islands as the number-two place where corporations can easily stash their money to avoid tax liabilities. Switzerland retained its top place on the list.