New York Times: The Islands Treasured by Offshore Tax Avoiders, by Floyd Norris:
Did you know that United States companies earned $129 billion in 2010 in three small groups of islands?...MORE
That is what they told the IRS they earned in Bermuda, the Cayman Islands and the British Virgin Islands. ...Assuming you believe those figures, the productivity of workers in those countries is amazing. On average, United States companies had profits of $873,611 per person living in those islands.By contrast, those same companies reported earning $12.6 billion in China, a country with 1.36 billion people. On a per capita basis, that comes to a little more than $9 a person.
See also, Revolver:
