Wednesday, April 02, 2014

Outrageous!

This is yet another thing that pisses me off about the austerity bullshit trotted out by politicians and policymakers: They totally IGNORE the corporate tax dodgers, and pretend there are no other options but to stick it to Main Street. And we're told that we can't have a $10.00 an hour minimum wage because it would hurt these *poor* companies. Gimme a break! From Common Dreams:

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.

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