What America Could Buy With Offshore Tax Money (xpost frm GD)
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.