Tax Dodging Companies Hoarding Nearly One Trillion Overseas
By Andrea Germanos
Profits for U.S. companies are at a record high, yet companies have hoarded nearly one trillion overseas to dodge U.S. taxes, a new Moody's analysis shows.
The findings, based on an analysis that looked at U.S. non-financial, Moody’s-rated companies, also reveal that these companies had stockpiled $1.64 trillion in cash at the end of 2013. That's about up about 12 percent from the year before.
Leading the pack of cash hoarders is Apple, which stockpiled $158.8 billion last year. More here.