Sunday, April 19, 2009

Guess who's not paying their taxes?

(http://www.southernstudies.org/assets_c/2009/04/bank_of_america_atm.html)

Estimated value of assets the IRS believes to be held in offshore tax
havens, countries with nominal taxes and minimal reporting requirements: _$5
trillion_

(http://www.uspirg.org/home/reports/report-archives/tax--budget-policy/tax--budget-policy--reports/tax-shell-game-the-taxpayer-cost-of-offshore-c
orporate-havens)

Number of countries that aggressively market themselves as tax havens: _at
least 40_

(http://www.uspirg.org/home/reports/report-archives/tax--budget-policy/tax--budget-policy--reports/tax-shell-game-the-taxpayer-cost-of-offshor
e-corporate-havens)

Percent of the biggest U.S. corporations that utilize tax havens: _80_

(http://www.uspirg.org/home/reports/report-archives/tax--budget-policy/tax--budg
et-policy--reports/tax-shell-game-the-taxpayer-cost-of-offshore-corporate-ha
vens)

Number of U.S. companies that maintain post office boxes in one 5-story
building in the Cayman Islands, a notorious tax haven: _over 18,000_

(http://www.uspirg.org/home/reports/report-archives/tax--budget-policy/tax--budget-po
licy--reports/tax-shell-game-the-taxpayer-cost-of-offshore-corporate-havens)


Number of tax havens used by Charlotte, N.C.-based Bank of America: _115_

(http://www.uspirg.org/home/reports/report-archives/tax--budget-policy/tax--b
udget-policy--reports/tax-shell-game-the-taxpayer-cost-of-offshore-corporate
-havens)

Number of Bank of America tax havens in the Cayman Islands: _59_

(http://www.uspirg.org/home/reports/report-archives/tax--budget-policy/tax--budget-pol
icy--reports/tax-shell-game-the-taxpayer-cost-of-offshore-corporate-havens)

Estimated annual cost of offshore tax havens to U.S. taxpayers: _$100
billion_

(http://www.uspirg.org/home/reports/report-archives/tax--budget-policy/tax--budget-policy--reports/tax-shell-game-the-taxpayer-cost-of-offshore-corp
orate-havens)

Estimated annual cost of offshore tax havens to U.S. taxpayers in the 13
Southern states*: _$28,712,758,673_

(http://www.uspirg.org/home/reports/report-archives/tax--budget-policy/tax--budget-policy--reports/tax-shell-game-the-
taxpayer-cost-of-offshore-corporate-havens)

Estimated annual cost of offshore tax havens to U.S. taxpayers in Texas
alone: _$8,653,820,259_

(http://www.uspirg.org/home/reports/report-archives/tax--budget-policy/tax--budget-policy--reports/tax-shell-game-the-taxpayer-cost
-of-offshore-corporate-havens)

Number of people working in Iraq for Houston-based KBR who were listed as
employees of two shell companies that exist only as computer files in a
Cayman Islands office: _21,000_

(http://www.boston.com/news/world/articles/2008/03/06/top_iraq_contractor_skirts_us_taxes_offshore/)

Under the arrangement, which KBR admits it created to avoid payroll taxes,
amount in unemployment assistance those employees are entitled to collect
should they lose their jobs: _$0_

(http://www.boston.com/news/world/articles/2008/03/06/top_iraq_contractor_skirts_us_taxes_offshore/)

Proportion of U.S. corporations that paid no income taxes between 1998 and
2005, due largely to the use of offshore tax havens and other tax dodges:
_2/3_ (http://www.ips-dc.org/reports/#1207)

Estimated amount of money that would be generated for the Treasury if the
Stop Tax Haven Abuse Act were approved by Congress: _$100 billion_

(http://www.ips-dc.org/reports/#1207)

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