Brad Setser says official estimates likely understate how much profit shifting to low-tax jurisdictions is costing the U.S. Treasury. He points to Micron paying

Brad Setser says official estimates likely understate how much profit shifting to low-tax jurisdictions is costing the U.S. Treasury. He points to Micron paying about $250 million in U.S. federal tax on $100 billion of income, versus Apple’s $12 billion on $160 billion.