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How is Facebook posting this mega tax break on its timeline? Well, "it's complicated." But when the company goes public, Facebook will take advantage of a major corporate tax loophole. Even though Facebook is tremendously profitable, this loophole will zero out Facebook's tax bill this year, and likely for years to come.
Like Warren Buffett, Facebook founder Mark Zuckerberg has told President Obama he agrees that the mega-rich should pay more in taxes. So we're calling on Mark Zuckerberg to follow through and ask Congress and President Obama to close the Facebook loophole today so that Facebook -- and every big company that goes public -- pays its fair share in taxes.