Apple, Google and Microsoft Hoarding More Cash Offshore

What's Hot


The Most Sinful City in the U.S. Is … (Hint: It’s Not Vegas)Family

How a Mexican Tariff Will Boost the Cost of 6 Common PurchasesFamily

This Free Software Brings Old Laptops Back to LifeMore

How to Protect Yourself From the ‘Can You Hear Me?’ Phone ScamFamily

Report: Walmart to Begin Selling CarsCars

Where to Sell Your Stuff for Top DollarAround The House

Is Your TV Tracking You? Here’s How to Tell — and Prevent ItAround The House

11 Staging Tips to Help You Get Top Dollar When Selling Your HomeAround The House

8 Tuition-Free U.S. CollegesCollege

4 Car Insurers That Might Raise Rates Even When the Accident Wasn’t Your FaultCars

21 Restaurants Offering Free Food Right NowSaving Money

20 Simple Hacks to Make Your Stuff Last LongerAround The House

Trump Scraps FHA Rate Cut — What Does It Mean for You?Borrow

How to Invest If Trump Kills the ‘Fiduciary Rule’Grow

12 Surprising Ways to Wreck Your Credit ScoreBorrow

10 Overlooked Expenses That Ruin Your BudgetFamily

In the past two years, the tech companies have more than doubled the amount of cash they've tucked away out of Uncle Sam's reach. Between the three it's now $134.5 billion.

Here’s another sign the tax code needs updating: the biggest American companies have expanded their offshore investments 14.4 percent since last year.

That’s an increase of $183 billion by 83 top U.S. companies. Altogether, they currently have $1.46 trillion in profits invested outside the country. If you include all American companies that number probably comes much closer to $2 trillion, according to Bloomberg, which examined the investments and found out who’s pumping the most cash overseas.

While the names of America’s biggest tech companies grab attention, the biggest offshore investor is General Electric, which has $108 billion in foreign holdings. Next is Pfizer with $73 billion. They’re followed by Merck, Johnson & Johnson, and IBM.

In 2011, just three companies had at least $40 billion in offshore investments. Now it’s 11, including Apple, Cisco, and Citigroup. Apple and Google both declined to comment to Bloomberg for the story.

How much is this costing our tax system? Microsoft says if it brought home all its offshore cash, they’d owe Uncle Sam $19.4 billion. That’s roughly a third of what they have overseas, so you can imagine why they’re in no rush to do so.

The U.S. federal debt is currently at $11.855 trillion. If all American companies’ offshore investments were brought home and taxed at 30 percent, the debt could be lowered 5 percent.

Stacy Johnson

It's not the usual blah, blah, blah

I know... every site you visit wants you to subscribe to their newsletter. But our news and advice is actually worth reading! For 25 years, I've been making people richer without making their eyes glaze over. You'll be glad you did. I guarantee it!

💰🗣📰

Read Next: 25 Ways to Spend Less on Food

Check Out Our Hottest Deals!

We're always adding new deals and coupons that'll save you big bucks. See the deals to the right and hundreds more in our Deals section.

Click here to explore 1,884 more deals!