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Thu Aug 28, 2014, 07:05 PM

WTF ...122

"Corporations paid nearly $100 billion less in federal income taxes last year than before the Great Recession down nearly 40 percent as a share of GDP. In fact, corporate profits and corporate tax collections are now trending in opposite directions. Profits were up $93 billion last year to a high of $2.1 trillion, according to the Commerce Department. Yet corporate tax payments actually fell last year by more than $15 billion...

"More than $2 trillion in U.S.-based multinational profits currently sit in offshore accounts, representing, by credible estimates, in excess of $500 billion in unpaid taxes. If that money were deposited in federal coffers tomorrow, it would wipe out the deficit for 2014. And every year that Congress dithers on a crackdown, America is forfeiting an approximate $90 billion in revenue."



http://www.rollingstone.com/politics/news/the-biggest-tax-scam-ever-20140827?wpisrc=nl-wonkbk&wpmm=1



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