Most Americans assume that Silicon Valley, a shining beacon of US economic growth, will give a lot of dough back to Uncle Sam over the next few years. But thanks to a controversial loophole in US tax code, 12 tech companies—including Facebook, Twitter and Linkedin—are poised to avoid paying income taxes on their next $11.4 billion in earnings, netting the companies a collective savings of $4 billion, according to a report put out this week by the Citizens for Tax Justice (CTJ).
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