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I can't speak for others, but my alarm wasn't with Google. Instead it was with a tax system that allows these kinds of loopholes. When people talk of expiring t
by nhebb 16y ago
I can't speak for others, but my alarm wasn't with Google. Instead it was with a tax system that allows these kinds of loopholes. When people talk of expiring the Bush tax cuts for those making over $250k, my jaded response is that it will probably only affect those that are well to do but not really rich. I think the really rich can afford tax lawyers that let them avoid substantial taxes via other loopholes.
- elai 16y agoYou're talking as if the US should receive the revenues for this foreign sourced income (notice this is out side of the USA income, not internal US income). As if google is only mountain view, CA. And as if these corporations don't contribute hugely to their headquarter country in employing tens of thousands of people who pay generously harvested income, payroll, property and other taxes and spend the majority of their money in the local economy not to mention made thousands of new local millionaires who develop their home economies even further.
- nhebb 16y agoI see what you mean, but when I wrote the first sentence I was actually thinking of the the Drudge headline from yesterday that the UK planned to cut 500,000 jobs from the government payroll. Even though the Bush tax cut issue is US specific, it was meant as a general diatribe against the inequity of any tax system that favors the well-heeled who can afford tax expertise to skirt taxes. I'm not going to lie - it's personal. I worked for a company that was acquired by (Bermuda based) Tyco International, and the aftermath wasn't pretty. Ever since I've harbored a steep grudge against companies who use international tax havens.