Billions In Tax Dollars Sitting In Banks Unused

Congressional report, "Money for Nothing," cites funds set aside but, often due to laws, going unspent when projects languish

Topics:  money for nothing,   
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    The upside: The product offered tax-deferred earnings and ... the arrangement has sent hundreds of billions of dollars in American retirement savings flowing into the pockets of commission-hungry brokers and Wall Street banks. For Americans cumulatively ...
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    Thousands of rich Australians have come forward to declare billions of dollars in untaxed ... individuals dodging tax. On top of this, the OECD and G20 are working on a common reporting standard that will see information held by banks and other financial ...
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  • Marty Sullivan figured out how the world’s biggest companies avoided billions in taxes. Here’s how he wants to stop them.
    It was 1985, and tax reform had become a top priority for both the Congress and the Reagan White House. “Suddenly I was sitting in a room with a dozen ... venture capital firms, investment banks and giant family-owned companies. Today, the Treasury ...
    10/25/2013 - 9:00 pm | View Link
  • Swiss insurers brace for next U.S. crackdown on untaxed billions
    ZURICH, July 4 (Reuters) - Swiss insurers are scrambling to defend themselves against possible investigations into billions of dollars of untaxed ... United States to protect banks accused of helping U.S. citizens to evade tax, a new cross-border law ...
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  • Billions in tax dollars sitting in banks unused
    (CBS News) The federal debt is now about $16 trillion. However, billions of tax dollars are sitting in bank accounts, doing absolutely nothing, according to a congressional report. It's called "Money for Nothing," and it adds up the staggering amount of ...
    06/8/2012 - 5:56 am | View Link
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    Sen. Tom Coburn (R., Okla.) released his final Wastebook on Wednesday, and it did not disappoint. Dr. Coburn, who is retiring after this term, chronicled $25 billion ...
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