Floyd Norris, the chief financial correspondent of The New York Times and The International Herald Tribune, covers the world of finance and economics.
He wrote about a new report on taxes supposedly paid by US corporations for the New York Times on Friday.
It was prepared by PWC using their utterly misleading Total Tax Contribution method which provides no meaningful data but does deliver vast amounts of duff misinformnation for Fox News at considerably greater cost then country-by-country reporting would possibly impose.
These are the largest and most successful companies in the country – the Roundtable says that its members collectively have $6 trillion in revenues and 13 million employees. Is there not one member of the Roundtable that finds it objectionable to present something so blatantly misleading as this study?
He's right to do so.
This is the accounting profession at its worst - deliberately seeking to pass tax liability from the richest and most able to pay onto the poorest in Amercia and elsewhere.
PWC should be ashamed of themselves. But it seems they are not.
Perhaps it's average partners remuneration in the UK of well over half a million each that makes them so thick skinned.