Missing Tax Dollars

As a complement to "Swine Still Doing Fine," today's Institute report from correspondant Sean Reilly about the rise of pork spending under our current Washington leadership, here are stats from today's issue of the Facing South newsletter:

  • Percent that state income tax collected from corporations has dropped since 1989: 40
  • Amount of federal revenue lost due to corporate offshore tax havens: $255 billion
  • Amount lost from corporate underreporting of income: $30 billion
  • Of 275 largest corporations, number that didn't pay any taxes at least one year between 2001 and 2003: 82
  • Amount of spending the Pentagon admits it cannot account for: $2.3 trillion
  • Amount this represents for every person in the United States: $8,000
  • Amount that Halliburton is known to have overcharged taxpayers on one of its Iraq contracts: $212 million
  • Amount of federal money earmarked for Wal-Mart in 2005 transportation bill to widen the road to their headquarters: $37 million
  • Number of hours it takes for Wal-Mart to make $37 million in profits: 31