Wednesday, April 15, 2009

US Loses Up to $100 Billion a Year to Offshore Tax Havens!!!

A Senate report estimated in 2008 that the United States loses up to $100 billion a year in tax revenue to offshore tax havens In a report released Wednesday, the U.S. Public Interest Research Group offers a state-by-state breakdown of the cost to taxpayers of tax revenue lost to "shell companies and sham headquarters" in places like Switzerland and the Cayman Islands.
The practice soaks dutiful taxpayers in every state for hundreds of millions of dollars, according to U.S. PIRG. The citizens of New York and Texas shoulder over $8 billion a year, and the good people of California are on the hook for an extra $11 billion.
Check out the link below to see exactly how much of the burden is shifted to taxpayers by state!!
http://www.huffingtonpost.com/thenewswire/archive/taxes.html

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