Google and Other U.S. Companies Dodge Billions in Taxes, Bloomberg Reports

Google and other U.S. companies are using legal corporate tax loopholes to avoid paying the U.S. Treasury billions of dollars in corporate income taxes every year, according to a new report by Bloomberg News. "Over the last three years, Google has saved over $3 billion," said Bloomberg reporter Jesse Drucker, who broke the story. Google, with its informal motto of "don't be evil," employs a strategy called the "Double Irish" to help it pay a tax rate of just 2.4 percent on overseas profits,...Full Story
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