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I'm curious though, how much of this offshore cash was earned in the US? For example although Google's advertising algorithms and engineering may be largely ba
by Veratyr 11y ago
I'm curious though, how much of this offshore cash was earned in the US?
For example although Google's advertising algorithms and engineering may be largely based in the US, its advertising revenues come from all over the world. Generally it's required to have a presence in the places where it operates, with revenue accounted for there and taxed by the local governments.
Are these people arguing that that revenue needs to end up in the US and be taxed there too instead of taxing it once then investing it elsewhere (like treasuries)?
Anyhow, the companies in question aim to increase their profit as much as possible within the law and are required to do so [0] by said law. If people don't like it, change the law.
[0]: https://en.wikipedia.org/wiki/Dodge_v._Ford_Motor_Co https://en.wikipedia.org/wiki/Dodge_v._Ford_Motor_Co.
- luckydude 11y agoI've heard the "change the law argument" a lot but there is a problem. The politicians are bought and paid for, people like the Koch brothers write the laws. Or their lobbyists do. So the laws are rigged in favor of corporations. Didn't use to be like this but it is now, it's crazy how skewed things are for big money. "Change the law" assumes that the politicians are working for all of us. They aren't. The tech companies benefit hugely from being based here. If you don't believe that then please recreate Silicon Valley in another country and show me how well that works (spoiler, been tried, didn't work). So long as they benefit from being based here they should pay their taxes. Source: CEO of a Silicon Valley company that is 18 years old and has paid every penny of tax owed without whining and without trying to off shore it or hide it in any way.