This is latest data in graph form for year 2013
Based on today’s valuation of its stock, Apple Corporation is now bigger than Wal-Mart and GE put together. Apple has 137.7 billion dollars in offshore cash. Citizens for Tax Justice noted that General Electric has $110 billion out of this country, Pfizer $69 billion, Cisco $48 billion, Hewlett-Packard $38 billion. What is the one thing they all have in common (besides the tax inversion that the democrats are making Burger King and Walgreens scapegoats for)- heavy campaign donations to the Democratic party.
Is this a mystery to liberals? Of course they’re holding their money out of the country, they paid the taxes where they earned it. Why would they want to bring the money back into the United States and generate capital improvements, and jobs and build plants when they will have to pay more taxes on it in the United States up to 35%.
It is funny how liberals lambast capitalism but are notorious for understanding every single tax break available to them when it comes to their personal economic well-being. Warren Buffet famously said it is sad when the percentage of taxes he paid was less than his secretary. What the lap dog press does not report is that he was then asked to voluntarily NOT take some of the deductions available and thereby pay a higher rate. He said NO, not until it was law and everybody had to do it.