Fortune 500 Companies Holding $2.1 Trillion Offshore

[HaloFan85]

Fortune 500 companies are holding more than $2.1 trillion in accumulated profits offshore for tax purposes. Just 30 Fortune 500 companies account for 65 percent of these offshore profits. These 30 companies with the most money offshore have booked $1.4 trillion overseas for tax purposes.

 

 

http://ctj.org/ctjreports/2015/10/offshore_shell_games_2015.php#.ViP5Mm6RYgS

 

[gotbeer]

I say we seize all those companies assets for tax evasion.  That's what would happen to you and me if we did that right?

[ten ocho recon scout]

I say we seize all those companies assets for tax evasion. That's what would happen to you and me if we did that right?

hmmm, not sure.

If we did it here, like frauding our end of rhe year taxes, yes. But as far as i know any of us could do what these guys are doing (with less money obviously).

[Amazing Larry]

That's what happens when other countries are more business friendly than the U.S.

[Tank]

i imagine there are a ton of tax loopholes that would have to be closed in order for these companies to be forced to keep their money here.

 

i imagine with all the powerful lobbies in washington, getting laws passed to close corporation tax loopholes will be more difficult than climbing mount everest by walking backwards or only doing somersaults.

 

when great uncle bernie says as president that he'll increase taxes on the wealthiest americans and on wall street, you know he's got no clue. it'll never happen.

[HaloFan85]

i imagine with all the powerful lobbies in washington, getting laws passed to close corporation tax loopholes will be more difficult than climbing mount everest by walking backwards or only doing somersaults.

The vast majority of lobbyists have previously held government jobs, so yeah, those corporate loopholes will never close.  There's also a good portion of lobbyists that are related (by blood or marriage) to those currently in government.  Like one big happy family.

 

The only thing separating lobbyists from the government is a big revolving door.