Google Shelters 10 billion in Bermuda
Posted: Mon Dec 10, 2012 3:48 pm
by brandon
http://www.bloomberg.com/news/2012-12-1 ... llion.html
Google Inc. (GOOG) avoided about $2 billion in worldwide income taxes in 2011 by shifting $9.8 billion in revenues into a Bermuda shell company, almost double the total from three years before, filings show.
Conservatives?
Anyone?
Re: Google Shelters 10 billion in Bermuda
Posted: Mon Dec 10, 2012 4:14 pm
by elklindo69
That's the tip of the iceberg, there must be hundreds of billions off shore.
The last time Bush did a tax free repatriation all the money went to dividends, share buy backs, and executive bonuses. And the businesses who took advantage were net job cutters.
I wonder how much that scam added to the deficit.
Maybe I can set up a shell account in the middle of bumfuck no-where, get paid there, with a tax break, repatriate it here. Spend the money and claim the proceeds of the capital will be used to create jobs. You know I could claim the money I spend every week at Costco is used to create jobs.
So therefore I'm a job creator, as the conservatives have coined it...
Re: Google Shelters 10 billion in Bermuda
Posted: Mon Dec 10, 2012 5:54 pm
by Shimmer
Why do we have laws on the books that make it more favorable to send profits offshore than to reinvest them here? Let's revamp the tax laws so people from around the world are scrambling to invest and put their money here rather than off shore. It would have a good impact on the profitability of companies, creation of new jobs and increased tax base.