Closing tax loopholes can be done through enforcing tax code rules or enacting new legislation. It is estimated that closing tax loopholes in the US entirely could generate an additional $1 trillion in revenue annually. Major corporations use offshore tax havens to reduce their tax liability, costing billions in revenue. Closing tax loopholes requires new […]
Closing tax loopholes can be done through enforcing existing rules or enacting new legislation. It can involve eliminating tax breaks and preventing methods of avoiding tax on investment income. Closing loopholes could bring the US government an additional $1 trillion in revenue annually. Massachusetts raised revenue by closing tax loopholes, including prosecuting banks that invested […]
