Business

U.S. Companies Stashing More Cash Abroad As Stockpiles Hit Record $1.45T

[FORBES]

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In 2012, U.S. companies held 20% or $840 billion of their cash in overseas accounts.

Corporate America has dramatically increased its cash piles over the past few years, stashing more and more Benjamins every year since 2007.  In 2012, U.S. non-financial companies filled their coffers with an additional $130 billion, taking their total cash to a record $1.45 trillion as the economy has stagnated and the labor market has moved sideways.  At the same time, a prohibitive corporate tax scheme coupled with emerging market growth have pushed U.S. firms to keep 58% of their cash, or $840 billion, overseas.

Read more about the piles of money that American companies are hoarding at Forbes.

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NNPAFreddie

Freddie Allen is the National News Editor for the NNPA News Wire and BlackPressUSA.com. 200-plus Black newspapers. 20 million readers. You should follow Freddie on Twitter and Instagram @freddieallenjr.

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