In 2012 alone, General Electric kept $108 billion in offshore tax havens so it could avoid paying taxes on it.
If it wasn't allowed to do that, that giant corporation would have paid around $37.8 billion in taxes that would have gone toward restoring our nation's infrastructure.
Next, there's Verizon.
In 2012, Verizon hid $1.8 billion in offshore tax havens, and avoided paying around $630 million in taxes. That's $630 million that could have gone right back into our economy.
Finally, there's the big bank Citigroup.
In 2012, Citigroup stashed a staggering $42.6 billion in offshore tax havens. If it hadn't done that, and had paid taxes instead, there would have been an additional $11.5 billion put back into our economy.
The bottom line here is that because the Supreme Court has legalized the purchase of lawmakers in Washington by corporate lobbyists and Wall Street hustlers, our economy is losing billions and billions of dollars each year to corporate tax avoidance.
Just think about all the things we could fund if we made corporations and big banks pay their fair share.
For example, according to data from the Department of Education, total tuition costs at public colleges across the US were $62.6 billion in 2012.
If we stopped letting corporations dodge taxes, we could use that money to make public college tuition free in the US.
For too long, we've let big banks and giant corporations skate on the backs of working-class Americans, and even rewarded them for it.
Americans -- wake up! With the Republican takeover of Congress, we now really and truly have the best Congress money can buy. Go to movetoamend.org to do something about it.
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