The top tech companies are storing more than $420 billion overseas

A recent report from Bloomberg shows, to the surprise of no one, that American technology companies are storing hundreds of billions of dollar overseas to avoid paying taxes. The top 8 tech companies in the United States alone have a combined total of $420 billion stored in overseas bank accounts with Microsoft taking the top spot. Despite being pressured to bring more of this cash back home, these companies are dissuaded by high corporate taxes in the States.