Bill Clinton: Lower The Corporate Tax Rate For Debt-Ceiling Deal

60 Minutes looks at the world's new corporate tax havens:

(CBS News)  
Our government is in knots over ways to lower the federal budget deficit. Well, what if we told you we found a pot of money - over $60 billion a year - that could be used to help out?

That bundle is tax money not coming in to the IRS from American corporatio­ns. One major way they avoid paying the tax man is by parking their profits overseas. They'll tell you they're forced to do that because the corporate 35 percent tax rate is high in relation to other countries, and indeed it seems the tax code actually encourages companies to move their businesses out of the country.

Tax havens: Do companies pay their fair share?
"60 Minutes" correspond­ent Lesley Stahl talks tax havens and the new ways American companies are stashing their profits abroad.
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