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Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsWhat America Could Buy With Offshore Tax Money
http://billmoyers.com/2014/06/06/what-america-could-buy-with-offshore-tax-money/What America Could Buy With Offshore Tax Money
June 6, 2014
by John Light
The federal government forgoes billions of dollars in revenue each year due to corporate tax write-offs and loopholes enshrined in Americas tax code. The Government Accountability Office estimates that we lose out on $181 billion as a result. Some of our tax credits ostensibly serve a social good, such as the credit for low-income housing investment. But other parts of the corporate tax code encourage companies to hide their profits in offshore tax havens. The revenue lost through this loophole is $65 billion a year, according to the National Priorities Project. (Other estimates are much higher.)
Here are some of the ways we could be spending those lost dollars.
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What America Could Buy With Offshore Tax Money (Original Post)
unhappycamper
Jun 2014
OP
Yeah America could but we would not, more likely we would kill more brown children with the money.
dilby
Jun 2014
#1
The people who would close those loopholes would not choose to 'kill more brown children.' nt
onehandle
Jun 2014
#2
The same could be said for NJ losing $32 Billion a year to socialist Red states (who love our cash).
TheBlackAdder
Jun 2014
#6
dilby
(2,273 posts)1. Yeah America could but we would not, more likely we would kill more brown children with the money.
Look where the bulk of tax money goes and ask yourself would we really do something for Americans or would we feed the military industrial complex.
onehandle
(51,122 posts)2. The people who would close those loopholes would not choose to 'kill more brown children.' nt
dilby
(2,273 posts)3. Let me google that.
Nope still tons of drone strikes going on where kids are dying. Sorry but if this Admin proved anything it was that our current party likes to kill brown people.
onehandle
(51,122 posts)4. They didn't close those loopholes either.
It would take different people.
Goodbye.
dilby
(2,273 posts)5. Then maybe get those people in place before we fund the war machine.
I am all for taxing the rich I just want those taxes to mean something.
TheBlackAdder
(28,076 posts)6. The same could be said for NJ losing $32 Billion a year to socialist Red states (who love our cash).
NJ sends $32 Billion more to be distributed by the federal government to socialist receiver states that it's entire yearly state budget.
What would happen in NJ if that money wasn't sent out of state?
1) NJ wouldn't have a crumbling school system.
2) The infrastructure, highway, roadways, bridges, etc. wouldn't be crumbling.
3) There wouldn't be a mass exodus of retirees trying to escape the high cost of living.
4) Speaking of that... there wouldn't be a high cost of living in the state.
5) Cities like Camden, Newark, Atlantic City, etc. wouldn't be forsaken.
etc...
===
But, I think that it's B.S. that corporations and the oligarchs get to park money offshore.
Especially at the detriment of the country.