4 ms·
You can do a little math to get a ballpark number. $7 billion includes penalties, the actual tax avoided was closer to $6 billion. Over 10 years (2005-2015),
by ksherlock 5y ago
You can do a little math to get a ballpark number. $7 billion includes penalties, the actual tax avoided was closer to $6 billion. Over 10 years (2005-2015), so $600 million per year. If you assume short term capital gains is 37% and long term capital gains is 20%, that (600 / .17) works out to $3.5 billion/year (or $2.9 billion after taxes). $29 billion over 10 years.