Google & Other U.S. Companies Dodge Billions in Taxes

[otohara]

Since the President is planning on a visit to Google - maybe he could ask them to pay their share of taxes, you know, to help out the country where they live.


Legal Loophole Allows U.S. Companies to Avoid $60 Billion in Taxes Annually

Google and other U.S. companies are using legal corporate tax loopholes to avoid paying the U.S. Treasury billions of dollars in corporate income taxes every year, according to a new report by Bloomberg News.

"Over the last three years, Google has saved over $3 billion," said Bloomberg reporter Jesse Drucker, who broke the story.

Google, with its informal motto of "don't be evil," employs a strategy called the "Double Irish" to help it pay a tax rate of just 2.4 percent on overseas profits, according to Bloomberg. The corporate income tax rate in the U.S. is 35 percent

http://abcnews.go.com/WN/google-loophole-dodge-corporate-taxes-bloomberg-report/story?id=11939752

[budkin]

1. What else is new?

[moondust]

2. So we must drastically cut spending for everybody else.

Especially entitlements.

"That's just the way it is." - Bruce Hornsby

:sarcasm: