Watch The Price We Pay

The Price We Pay is a 2014 documentary film directed by Harold Crooks. The movie takes a critical look at the practices of multinational corporations that hide their profits in tax havens, depriving governments of crucial revenue. The opening scene sets the stage, showing footage of the Occupy Wall Street movement and the recent global financial crisis.

The documentary then delves into the world of tax avoidance and evasion by corporations and the wealthy elite. The film begins by profiling a small town in Canada that has been devastated by the closure of its main employer, a paper mill. The mill was bought by a US-based private equity firm that loaded it up with debt and then transferred its profits to a subsidiary in a tax haven. The result was the closure of the mill and the loss of hundreds of jobs.

The film then moves on to explore the global impact of corporate tax evasion. It shows how companies like Apple, Google, and Starbucks shifted their profits to Ireland, the Netherlands, and other countries with low tax rates, depriving governments of billions of dollars in revenue. The film also exposes the role of accounting firms like KPMG, PwC, and EY in setting up these tax avoidance schemes.

To illustrate the scale of this problem, the film makes comparisons with the revenue generated by some of the world's largest corporations and the GDP of small countries. For example, Apple's annual profits are greater than the GDP of Denmark, and Microsoft's are greater than the GDP of Kuwait. The film argues that this not only undermines democracy by allowing corporations to avoid paying their fair share of taxes, but it also contributes to income inequality and poverty.

The movie then turns to the political context of tax evasion, showing how lobbying by corporations has influenced tax policies around the world. It also highlights the role of free trade agreements like NAFTA and the TPP in giving corporations more power and undermining the ability of governments to regulate them. The film argues that this has created a system where large corporations are effectively above the law.

Throughout the film, experts in tax law, economics, and politics provide commentary on the issues raised. One of the most compelling voices is that of Brigitte Alepin, a Canadian tax expert who provided research for the film. She argues that our current tax system is broken and needs to be reformed, with a focus on transparency and accountability.

The documentary also features interviews with ordinary people who have been affected by tax evasion, from the Canadian paper mill workers to small business owners in Greece. These personal stories add a human element to the film and demonstrate the real-world impact of these issues.

The film's visuals are also striking. Shots of tax havens like the Cayman Islands and the Cook Islands are juxtaposed with images of poverty and inequality around the world. Animations and infographics help to explain complex financial concepts in an accessible way.

Overall, The Price We Pay is a powerful and thought-provoking documentary that shines a light on a crucial issue of our time. It challenges viewers to question the role of corporations in our society and to consider the economic and political structures that allow them to thrive at the expense of the rest of us.

The Price We Pay is a 2015 documentary with a runtime of 1 hour and 33 minutes. It has received mostly positive reviews from critics and viewers, who have given it an IMDb score of 7.4.