Business owners across America are staring down a 35 percent tax rate - but not every company actually pays 35 percent. "60 Minutes" correspondent Lesley Stahl reveals the new games companies play to lower their tax rates, sometimes down to single digits.
For her story on the "60 Minutes" broadcast, Lesley and her producer Shachar Bar-On traveled all the way to Zug, a quaint, medieval town in Switzerland where the corporate tax rate is about 16 percent. As Stahl reports, corporate pressure to transform internal tax planning departments into profit centers has driven multinational corporations like Weatherford International to "move" to the tiny Swiss town. But when Lesley landed in Zug and went looking for these companies' headquarters, all she found was a few empty mailboxes.
In this video, Lesley discusses her reporting on the new tax havens with Overtime editor Ann Silvio. What would you do if you were in the shoes of these CEOs? Can you blame them?