Government Cuts Services While Corporations Expand Offshore Cash By $183 Billion

Interesting to see that our biggest and brightest companies are so willing to pitch in to solve America’s budget problems.  As this Bloomberg analysis shows, the largest U.S. companies expanded their untaxed stockpiles of cash by $183 billion last year. Offshore profits for the 83 companies examined totaled $1.46 trillion. General Electric again led the list of companies making a mockery of the loopholes in the corporate tax code with $108 billion held offshore.

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