What America Could Buy With Offshore Tax Money

June 6, 2014

The federal government forgoes billions of dollars in revenue each year due to corporate tax write-offs and loopholes enshrined in America’s tax code. The Government Accountability Office estimates that we lose out on $181 billion as a result. Some of our tax credits ostensibly serve a social good, such as the credit for low-income housing investment. But other parts of the corporate tax code encourage companies to hide their profits in offshore tax havens. The revenue lost through this loophole is $65 billion a year, according to the National Priorities Project. (Other estimates are much higher.)

Here are some of the ways we could be spending those lost dollars.

(AP Photo)

(AP Photo/Tony Dejak)

(AP Photo/Andy Manis)

(AP Photo/Brett Coomer)

(AP Photo/Mary Altaffer)

(Photo: Chris Radburn/PA Wire)

(AP Photo)

All figures from the National Priorities Project.

John Light is a reporter and producer for the Moyers team. His work has appeared at The Atlantic, Grist, Mother Jones, Salon, Slate, Vox and Al Jazeera, and has been broadcast on Public Radio International. He's a graduate of Columbia Graduate School of Journalism. You can follow him on Twitter at @LightTweeting.

TAGS: corporate taxes, education, federal budget, head start, highways, infrastructure, national priorities project, offshoring, police, solar, taxes, veterans, widget

Comment

To comment on this post, connect with us on Facebook, Twitter or for those not on social media, email us at yourturn [at] billmoyers [dot] com.

Are you aware of our Comment Policy?

BillMoyers.com encourages conversation and debate around issues, events and ideas related to content on Moyers & Company and the BillMoyers.com website.

The editorial staff reserves the right to take down comments it deems inappropriate.
Profanity, personal attacks, hate speech, off-topic posts, advertisements and spam will not be tolerated.
Do not intentionally make false or misleading statements, impersonate someone else, break the law, or condone or encourage unlawful activity.

If your comments consistently or intentionally make this community a less civil and enjoyable place to be, you and your comments will be excluded from it.

We need your help with this. If you feel a post is not in line with the comment policy, please flag it so that we can take a look. Comments and questions about our policy are welcome. Please send an email to info@moyersmedia.com

Find out more about BillMoyers.com's privacy policy and terms of service.

Related Content

Subscribe to Our Newsletters