Defense Contractors Seek Offshore Havens

msnbc.msn.com — Contractors large and small have been heading offshore to shield piles of taxpayer dollars, according to an Associated Press investigation, but irate lawmakers are thundering that they'll put an end to it. The House recently passed tax legislation that would treat foreign subsidiaries of U.S. government contractors as American employers. That means they would have to pay the taxes that finance Social Security and Medicare programs. The Senate is now considering the legislation.

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