A stroke of his pen…and the US lost hundreds of billions in tax revenue, to be made up by the ‘little people’.

 A New York Times review of securities filings from nearly 500 companies showed that they avoided taxes by attributing hundreds of billions of dollars in earnings to low- or no-tax foreign locales like Cyprus, Bermuda, Switzerland and the Cayman Islands. Often, corporations funneled the profits through subsidiaries in places where they had no employees, offices or customers.

Tax havens became more appealing after President Trump signed an order on his first day back in office withdrawing the United States from a 13-year international effort to end such schemes, a payback for the hundreds of millions in campaign contributions.