What a shocker …
Ξ December 11th, 2012 | → | ∇ DOJ: Eric Holder, MSM, demwits, economy, lying UN, lying media, obami, personal, politics, taxes |
Countries that raise taxes to unreal levels … the rich take their money and go some place that they don’t have to pay such high taxes.
Can you believe it?
12:13AM EST December 11. 2012 - By funneling nearly $10 billion in revenue into a Bermuda shell company last year, Google dodged about $2 billion in income taxes worldwide, Bloomberg News reports, citing financial records.
The off-shore tax shelter — legal in the United States and elsewhere — cut Google’s tax rate nearly in half, Bloomberg says. Bermuda has no corporate income tax. Bloomberg says the amount saved was about 80% of the company’s pre-tax profit.
In a statement from corporate headquarters in Mountain View, Calif., Google said that it complies with all tax rules. The company also said its European investments help those countries’ economies and businesses, and provide thousands of jobs.
Last week, Reuters reported how Amazon has avoided income taxes — $1.5 billion, the IRS claims — by channeling sales through Luxembourg. In the course of accumulating $2 billion to finance expansion, the Seattle-based retailing behemoth has also evaded paying hundreds of millions of dollars to European countries.
Liberals that demand high tax rates should boycott Google. Wait a second. Wasn’t Google the 3rd largest company contributor to Obama’s campaign?
Google it and find out.