Mar 9, 2009
The nation’s largest corporations put millions of dollars into offshore tax havens. Eighty-three of the country’s 100 largest corporations – including Citigroup, Bank of America, Morgan Stanley, JPMorgan Chase, Wells Fargo, GM, GMAC and Cerberus – keep part of their money where U.S. tax laws don’t apply.
There’s only one problem for these slickers – they have to pay taxes on the money when they bring it home.
The Senate is trying to solve this problem for them – by setting up another tax “holiday” for U.S. corporations, letting them bring money back without paying any taxes.
Don’t let them tell us these companies have no money – and the Senate even knows where they are hiding it!