Google has better things to do with $60B than give it to government

[Revere]

As it should be.

Google 2.4% Rate Shows How $60 Billion Lost to Tax Loopholes - Bloomberg

Google’s income shifting -- involving strategies known to lawyers as the “Double Irish” and the “Dutch Sandwich” -- helped reduce its overseas tax rate to 2.4 percent, the lowest of the top five U.S. technology companies by market capitalization, according to regulatory filings in six countries.

“It’s remarkable that Google’s effective rate is that low,” said Martin A. Sullivan, a tax economist who formerly worked for the U.S. Treasury Department. “We know this company operates throughout the world mostly in high-tax countries where the average corporate rate is well over 20 percent.”

The U.S. corporate income-tax rate is 35 percent. In the U.K., Google’s second-biggest market by revenue, it’s 28 percent.

Google, the owner of the world’s most popular search engine, uses a strategy that has gained favor among such companies as Facebook Inc. and Microsoft Corp. The method takes advantage of Irish tax law to legally shuttle profits into and out of subsidiaries there, largely escaping the country’s 12.5 percent income tax. (See an interactive graphic on Google’s tax strategy here.)

The earnings wind up in island havens that levy no corporate income taxes at all.

 

[VaYank5150]

As it should be?

 

[Douger]

As it should be. Kill the bastards funding and the empire dies.

 

[ClosedCaption]

As it should be. Kill the bastards funding and the empire dies.

And American quality of life is destroyed, good thing?

 

[loosecannon]

As it should be?

my exact reaction

 

[Mr. H.]

As it should be. Kill the bastards funding and the empire dies.

And American quality of life is destroyed, good thing?

Don't mind Dougy. He's just a peasant squatter hiding out in a third world country.

 

[Revere]

America's quality of life does not emanate from transfer payments.