Tax

Report | MoPIRG | Tax

Closing the Billion Dollar Loophole

New report tells how some states have found a simple reform to reclaim significant revenue lost to offshore tax havens. Includes estimates of how much each state loses in state revenue to offshore tax haven abuse and how much each state would gain by closing the "water's edge" loophole.

News Release | MoPIRG | Budget, Tax

Offshore Tax Havens Cost Average Missouri Taxpayer $915 a Year, Missouri Small Business $3,029

As hardworking Americans file their taxes today, MoPIRG released a new study which revealed that the average Missouri taxpayer in 2013 would have to shoulder an extra $915 in taxes to make up for the revenue lost due to the use of offshore tax havens by corporations and wealthy individuals. 

Report | MoPIRG | Budget, Tax

Picking Up the Tab 2014

Every year, corporations and wealthy individuals use complicated gimmicks to shift U.S. earnings to subsidiaries in offshore tax havens – countries with minimal or no taxes – in order to reduce their state and federal income tax liability by billions of dollars. 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.

News Release | MoPIRG | Budget, Tax, Transportation

McCaskill and Blunt-Supported Plan to Fund Road and Bridge Repairs Would Create Massive Corporate Tax Break

Sens. Claire McCaskill (D-MO) and Roy Blunt (R-MO)  recently backed a bill to address funding shortfalls for road and bridge repairs in Missouri. According to a new analysis, the bill contains massive corporate tax breaks that could cost taxpayers an estimated $105 billion.

News Release | MoPIRG | Food, Tax

New Farm Bill Contains Massive Taxpayer Handouts To Big Ag

At a time of supposed fiscal caution, this bill would put taxpayers on the hook for another five years of billion-dollar handouts to huge, profitable agribusinesses. Even the most modest reforms to trim subsidies for the largest players were stripped out or watered down at the last second

Issue | Health Care

Fighting The High Cost Rx Drugs

Brand-name drug companies have been paying off generic drug makers to delay competition and keep prices high. This widespread pay-for-delay scheme needs to be put to an end. 

Report | MoPIRG | Budget, Tax

Picking Up the Tab 2013

Even when tax haven abusers act perfectly legally, they force other Americans to shoulder their tax burden. Every dollar in taxes they avoid by using tax havens must be balanced by other Americans paying higher taxes, coping with cuts to government programs, or increasing the federal debt.

News Release | MoPIRG | Budget, Tax

Offshore Tax Havens Cost Average Missouri Taxpayer $783 a Year

With Tax Day approaching, it’s a good time to be reminded of where our tax dollars are going. MoPIRG released a new study which revealed that the average Missouri taxpayer in 2012 would have to shoulder an extra $783 in taxes to make up for the revenue lost due to the use of offshore tax havens by corporations and wealthy individuals. 

News Release | MoPIRG Foundation | Tax

Offshore Tax Dodging Blows a $843 Million Hole in Missouri Budget

With Missouri in the midst of a budget crisis, MoPIRG Foundation, joined by small business owners, released a new study revealing that Missouri lost $843 Million due to offshore tax dodging in 2012. Many of America’s wealthiest individuals and largest corporations, use tax loopholes to shift profits made in America to offshore tax havens, where they pay little to no taxes.

Report | MoPIRG Foundation | Tax

The Hidden Cost of Offshore Tax Havens

In 2011, states lost approximately $39.8 billion in tax revenues from corporations and wealthy individuals who sheltered money in foreign tax havens. Multinational corporations account for more than $26 billion of the lost tax revenue, and wealthy individuals account for the rest.

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