The Damage Report
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Tech Billionaires BUSTED In Bombshell Tax Scheme As Trump Plan Exposed
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April 20, 2025
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4:39Now PlayingNew report exposes the tech billionaires running the companies known as the 'silicon six' that are avoiding hundreds of billions in taxes, and now their real goal in kissing up to Donald Trump is exposed through a unbelievable new tax scheme. John Iadarola and Sharon Reed break it down on The Damage Report. Leave a comment with your thoughts below!
Read more here:
‘Silicon Six’ accused of avoiding almost $278bn in US corporation taxes over 10 years
"Analysis finds Amazon, Meta, Alphabet, Netflix, Apple and Microsoft averaged 18.8%, compared with 29.7% US average
The big American tech firms known as the “Silicon Six” have been accused of paying almost $278bn (£211bn) less corporate income tax in the past decade compared with the statutory rate for US companies making the same profits.
Amazon, Meta, Alphabet, Netflix, Apple and Microsoft generated $11tn of revenue and $2.5tn of profits over the past 10 years.
Yet they paid an average 18.8% in combined national and federal corporation taxes, compared with an average 29.7% in the US, according to the Fair Tax Foundation (FTF), which said the Silicon Six had “hardwired” tax avoidance into their business models.
Analysis by the not-for-profit organisation found that if one-off repatriation tax payments in the US connected to historical tax avoidance were excluded, the average corporate income tax contribution of the six firms fell to 16.1% over the past decade."
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