Google avoids paying 2 billion in taxes. Schmidt: "It's called capitalism"

[Euroconservativ]

Google Dodged $2 Billion In Taxes Using A Shell Company In Bermuda - Business Insider

Eric Schmidt: "I am very proud of the structure that we set up. We did it based on the incentives that the government offered us to operate. It’s called capitalism. We are proudly capitalistic. I’m not confused about this."


Schmidt stood with Obama during his first 2008 post-election press conference. When Obama started to push for a new round of stimulus spending 2011, Schmidt was a cheerleader. Google's political action committee delivered $1.6 million to the Democrats in 2008, and over $700,000 to Obama in the last election.


Can we also talk about Immelt and GE tax rates? No, let's push for higher taxes on those disgusting filthy rich families that make $250K or $500K

 

[eflatminor]

Eric Schmidt: "I am very proud of the structure that we set up. We did it based on the incentives that the government offered us to operate. It’s called capitalism. We are proudly capitalistic. I’m not confused about this."

No, it's called CRONY capitalism. It fucking sucks, all of it.

Flat personal income tax, flat corporate tax. No loopholes, no write offs...nothing. Standardized accounting rules that apply to everyone and all corporate entities. Do your taxes on a sticky note. Fire the IRS.

 

[Politico]

Google legally file their taxes

Fixed it for ys Leftytoon

 

[Euroconservativ]

A major Obama donor is proud of his company low tax rates... but Mainstream Media does not care.

Let's talk only about those "ultra-wealthy" families that earn much less than $1 million and send their kids to good private schools. How dare they!!

 

[ScienceRocks]

Google does more for society then it would otherwise would given 2 billion to the free shitters.

Fact.

 

[Euroconservativ]

Google does more for society then it would otherwise would given 2 billion to the free shitters.

Fact.

I agree

This thread is about political double standards

 

[RoadVirus]

Google didn't pay taxes, huh? Well, looks like someone's CEO is going to get a pretty fancy Obama administration position then.

 

[Toro]

I don't have a problem with companies minimizing their tax liabilities. However, companies like Google use a method of inter-company transfer pricing which makes assumptions about market pricing when it transfers its software from onshore to offshore shells. This is bullshit because it makes the assumption of what price the assets can be transferred as if there was a real market and Google could sell its software. Of course, Google would never sell its software in the manner they assume because there is no real market and it would probably put them out of business.

This is egregious and should be ended (along with corporate tax rates being slashed dramatically). The government could end it in a heartbeat, but I imagine there would be a whole lot of opposition from the California Democrat Congressional delegation since Silicon Valley is the biggest user of these methods.

 

[Euroconservativ]

i don't have a problem with companies minimizing their tax liabilities. However, companies like google use a method of inter-company transfer pricing which makes assumptions about market pricing when it transfers its software from onshore to offshore shells. This is bullshit because it makes the assumption of what price the assets can be transferred as if there was a real market and google could sell its software. Of course, google would never sell its software in the manner they assume because there is no real market and it would probably put them out of business.

this is egregious and should be ended (along with corporate tax rates being slashed dramatically). the government could end it in a heartbeat, but i imagine there would be a whole lot of opposition from the california democrat congressional delegation since silicon valley is the biggest user of these methods.

+1