On Wednesday I published an important article outlining how multinationals have accumulated over $2 Trillion in untaxed (tax deferred) profits. I then showed you a way how you can structure your own life/company as a multinational to avoid paying taxes as well. Legally of course. Click Here To See The Original Article.
However, I had a brain fart and forgot to mention one very important fact that should piss you off even more. Guess what the multinationals do with that cash? That’s right, they invest it in the US Treasury and collect interest.
Apple, Cisco Systems, Google, and Microsoft legally hold $124 billion in US Treasury securities and $39 billion in US government agency debt in accounts overseas, allowing them to avoid the 35 percent (maximum) corporate tax rate in the United States, according to Securities & Exchange Commission reports.
So, while the IRS taxes your Income, Welfare and Social Security, multinationals are able to earn tax free profit, then turn around and invest it in the US Debt to earn interest. Rapping the American citizens twice. The thing is, it’s not their fault. The full responsibility lies with the corrupt US Government full of loopholes.
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