Jul 22, 2013
General Electric keeps more than 100 billion dollars in offshore bank accounts on which it pays no taxes. Apple, Google and Microsoft hold 130 billion dollars out of the U.S. to avoid paying taxes.
Why do those tax dollars stay “offshore”? That’s one way wealthy individuals and corporations avoid paying taxes!
Oxfam, a charitable organization trying to help the poor, estimates some 16 trillion dollars is being sheltered in countries with special tax rules. It’s equal to almost 45 billion dollars every single day – escaping any taxation.
Nothing will change until the world’s working populations, suffering from economic crises, decide to take on the situation. The politicians will certainly not challenge the very principles by which this economic system profits a tiny rich minority.