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Anchored by Jake Tapper, The Lead airs at 4 p.m. ET on CNN.

Anchored by Jake Tapper, The Lead airs at 4 p.m. ET on CNN.

On the Next Episode of The Lead

Rep. Tulsi Gabbard, D-Hawaii, on possibly increasing duration of the Ebola incubation.

Rep. Tulsi Gabbard, D-Hawaii, on possibly increasing duration of the Ebola incubation.

July 7th, 2014
05:33 PM ET

New American corporate trend shorting Uncle Sam?

(CNN) – American companies doing everything within their power to pay the U.S. government less money is a time-honored tradition.

The latest trend all the corporations are doing is something called inversion.

Companies listed on the American stock exchanges are packing up, leaving the U.S., and building their new headquarters in tax havens scattered across the globe.

It's already caught on with companies like Garmin, Michael Kors, Carnival, and Nielsen.

Drug maker Pfizer had a deal to invert fall through earlier this year.

And now Walgreens is thinking of heading for foreign shores.

The loophole is becoming so popular in Wall Street boardrooms, that Congress's joint committee on taxation says the government is set to lose $19.5 billion in tax revenues over the next 10 years.

Inversion is the topic of FOrtune Magazine's latest cover story: "Positively un-American tax dodges."

Assistant managing editor of Fortune magazine Leigh Gallagher has more.

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