February 6, 2013 ALTERNET
A new report shows that states lose out big time when the wealthy avoid paying their fair share.
According to a new report by U.S. PIRG Education Fund corporations accounted for more than $26 billion of lost revenue in 2011 alone, while wealthy individuals are responsible for the rest. The blow to states rests on top of nearly $150 billion of lost annual federal revenue due to corporate loopholes.
In a statement, PIRG said everyday Americans bear the burden when the nation’s wealthiest elites avoid paying their fair share.... http://www.alternet.org/economy/offshore-tax-havens-robbed-states-nearly-40-billion-2011?akid=10020.237541.uXl0kz&rd=1&src=newsletter790287&t=5