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Tax Havens Leave U.S. Filers A Hefty Tab
Wednesday, Apr. 16, 2014 - According to a report, U.S. taxpayers would need to pay an average of $1,259 more a year to make up the federal and state taxes lost to corporations and individuals sheltering money in overseas tax havens. Tax haven abusers benefit from America’s markets, public infrastructure, educated workforce, security and rule of law -– all supported in one way or another by tax dollars -– but they avoid paying for these benefits. Instead, ordinary taxpayers end up picking up the tab, either in the form of higher taxes, cuts to public spending priorities, or increases to the federal debt.