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Wednesday, December 12, 2012

Google Tax Dodgers

Not only is Google one of the biggest internet search engines in the world – it's also one of the biggest corporate tax dodgers.
Bloomberg News reports that Google Inc. hid nearly $10 billion in a Bermuda shell company in 2011 to avoid paying $2 billion in corporate taxes. Shockingly, there's nothing illegal about what Google did hiding 80% of its pretax profits last year in Bermuda, but it does explain why our federal government is losing much needed revenue, as corporations no longer pay their fair share in taxes. According to the Tax Justice Network, all around the world – the global oligarchs are hiding as much as $21 trillion in tax havens, to avoid contributing to their respective governments. This is what happens when greed trumps patriotism.

2 comments:

Anonymous said...

no, this is what happens when goverments get greedy.

Anonymous said...

3:04,
Amen!