Just a handful of US companies hold a majority of the cash in the United States by a large margin. According to USA Today, five US companies, Apple, Alphabet (Google holding company), Cisco, Microsoft, and Oracle made up 504 billion of the total 1.7 trillion dollars in cash and cash equivalents in 2015. This is about 30 percent of the US's total cash and cash holdings. This is an increase in comparison to 2014 (27%), and 2012 (25%). Additionally, the use of offshore accounts to avoid US taxes is increasing as well. USA Today states, "unfortunately for U.S. investors, 72% of total cash held by all non-financial U.S. companies is stockpiled outside the U.S., up from 64% in 2014 and 58% in 2013."
- How do you think that the holding of so much wealth by so few corporations affects the economy, as the majority is held offshore?
- Does this much cash ought to be taxed more heavily than now, in the case of it being brought back to the United States?
- Should there be more regulation of industries in this sector as we see the increase in wealth and increasing disparity of wealth in the US?
International Business Times