One of the solutions Jubilee USA is pushing to avoid falling off the "fiscal cliff" is to ask corporations and the wealthiest individuals to pay their fair share of taxes - instead of hiding hundreds of billions of dollars just offshore. If the money hidden in tax havens is taxed fairly we can strengthen international development, education and healthcare. When we challenge corporations dodging taxes here, we are sending a message around the globe to confront the kind of behavior that steals resources from the world's poorest countries. Take action and tell your Senators and Representative to close tax loopholes that allow corporations and the wealthiest individuals to evade taxes.
Americans deserve a tax code without loopholes that allow the wealthiest to avoid their tax burden at the expense of ordinary taxpayers. The billions of dollars invested in offshore tax havens should be invested to confront global poverty, to build our schools and help create jobs. Not only would this closure of loopholes benefit the U.S., but it would also benefit the world’s poorest and most vulnerable by sending a message that this type of behavior is unacceptable. More than half of all banking assets and a third of multinational company investments are routed through tax havens. It is estimated that for every $10 a country receives in development aid, $15 exits the country as a result of tax dodging.* Corporations are operating in developing countries and robbing resources by using offshore tax havens to hide their money instead of paying their taxes – curbing this behavior at home sends a message that it should not be tolerated around the world.