Comments by "Cupid Stunt" (@Cupid-Stunt) on "Senate Democrats pass massive spending bill" video.

  1. Corporations hold trillions of dollars hidden in tax havens. The most shocking tax evasion statistics show such strategies cost governments worldwide billions of dollars. While plenty of countries struggle with this issue, the United States suffers the most. Most Americans pay their taxes on time and believe this is their civic duty. Still, the country loses nearly $190 billion per year due to underreporting and underpayment of taxes. Both individuals and corporations play their role in this situation, which damages the economy and results in budget cuts. Scroll down to learn how much money the EU countries are losing to tax evasion. Discover how the IRS handles such cases in the US and what can trigger an audit by the authority. Tax Evasion Statistics The USA loses nearly $190 billion to tax evasion every year. The annual cost of tax evasion in European countries is over €823 billion. Switzerland is a haven for about $2.4 trillion of foreign personal wealth. The world’s wealthiest keep $21-$32 trillion of personal assets in offshore tax havens. More than 80% of US taxpayers report and pay taxes on time. Over 68% of tax offenders in the USA are men. American corporations underreport approximately $41 billion per year.
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