Washington, D.C. –(ENEWSPF)—January 9, 2014. Trapped offshore profits are neither overseas nor trapped. Rather, they are accounting illusions that provide multinational corporations yet another loophole to skirt taxes, according to a new report released today by the Center for American Progress. The report disproves arguments that claim that there is a large stock of cash somewhere offshore, waiting to be invested in our struggling economy, and instead points out that much of that income is already invested in the United States. The real problem with accumulated corporate profits is not that they are “offshore”; it is that they are untaxed.
