| Title | Tech firms Would Pay $89B in Taxes if ... | |
| Date | Friday March 14 2014, @10:18PM | |
| Author | janrinok | |
| Topic | ||
| from the system-is-there-to-be-used dept. | ||
AnonTechie writes:
"According to a new report, four major American tech firms (Apple, Microsoft, Google, and Cisco) hold $ 163 Billion in United States government debt overseas for tax reasons. That means that American taxpayers are effectively paying interest toward a corporate cash stash held abroad that likely will not return to the US anytime soon.
A second report points out that, if taxed at the current rate of 35%, this would yield $89B. This sum is approximately one quarter of America's projected $514 billion budget deficit this year. There is no suggestion that any of the companies' activities are in any way unlawful."
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