73% of Fortune 500 Companies used tax havens in 2015, dodging $717.8 billion in federal taxes in the process.
A new report, "Offshore Shell Games," by the U.S. PIRG Education Fund, Citizens for Tax Justice and the Institute on Taxation and Economic Policy details how these companies hoard cash offshore. Collectively, multinationals reported booking $2.5 trillion offshore, with just 30 companies accounting for 66 percent of this total.
The cost to the tax payer is huge, with nearly $718 billion in dodged taxes.
There is a real cost to our communities when we allow a set of companies to play