Top 50 us corporations stashing 1.4 trillion dollars in off-shore tax havens…
What a SHOCK!
The $1.4 trillion is just the beginning of the story, though.
Oxfam estimates that corporate tax avoidance costs the US about $100 billion in tax revenue every year. Each American taxpayer would have to pay an additional $760 per year to cover that cost. These companies aren’t just shielding tax revenue from the government — they’re taking money from the government (and taxpayers) in the form of federal loans, loan guarantees and bailouts. Between 2008 and 2014, for every $27 of these funds received, the companies paid $1 in federal taxes.