Apple, Google and Others at Trump Tech Summit Have Stashed $560 Billion in Profits Overseas

‘U.S.-based multinationals are currently holding $2.4 trillion in profits overseas to avoid paying taxes on them. Remarkably enough, the 11 technology companies represented at Wednesday’s summit with President-elect Donald Trump at Trump Tower in New York account for about one-quarter of that total — a staggering $560 billion — all by themselves.
So while some among the technology industry made muted sounds about refusing to attend a summit with someone who so flagrantly violates tech’s supposed values, they were never going to follow through: Trump is worth far much too much money to them.’
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