Offshore Tax Havens

Taypayer's Trillion Dollar Offshore Travesty

According to Oxfam, the 50 biggest U.S. businesses have stashed $1.4 trillion in tax havens around the world. Higher than the GDP of the Netherlands, that sum does not count towards U.S. tax. Many of the companies (including Boeing, General Electric and Apple) stashed massive sums of money overseas, despite receiving extensive taxpayer support that sometimes ran into billions of dollars. Between 2009 and 2014, Bank of America was subsidized to the tune of $3.5 trillion and it has $17.2 billion held in tax havens offshore.

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This chart shows federal loans, bailouts and loan guarantees to U.S. companies and money held offshore.

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Ranking of the top 30 companies from the Fortune 500 using offshore tax havens to avoid United States taxed based on financial results in 2014, by avoidance method (millions U.S. dollars)
Money held offshore by the largest public U.S. companies between 2008 to 2014 (in million U.S. dollars)
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Value of money held in offshore locations by selected companies in the United States in 2014 (in billion U.S. dollars)
Most popular tax havens of Mossack Fonseca as of April 2016, by number of companies located in an offshore center
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Estimated excess profit reported by the leading twenty European Union (EU) banks in tax havens worldwide as of 2015 (in billion euro)
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Total federal and state revenue lost to offshore tax heavens in the United States in 2014, by state (in billion U.S. dollars)

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