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View Diary: Tax Loopholes, Just Another Way to Lie and Cheat The American People! (11 comments)

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  •  Certianly True (0+ / 0-)

    Go back and read my statement carefully. This for foreign income.

    Please note Goggle declined to comment on this to Bloomberg, if they disagreed with the facts surely they would have offered a correction.

    Such accounting measures cost the US Government more than 60 Billion a year and other governments as well.

    Why Google got singled out is their rate is exceptionally low, something uniquely available to software driven industries that run, essentially virtual enterprises based on license fees that can be set artificially low.

    Suggest you research this a bit more.

    Goggle actually has very parasitic business practices and little respect for rule of law, and other examples is their appropriation of copyrighted materials for Goggle Books which they compiled without authorization and then used hardball tactics to obtain the lowest possible royaltypayments, far below standard rates.

    Still another is Goggle Streets which they executed globally without consideration of national laws and now has them in hot water in several countries due to invasion of privacy due to local laws.

    But if you research the details I quoted I think you will find this accurate.

    What about my Daughter's future?

    by koNko on Fri Oct 29, 2010 at 07:17:44 PM PDT

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    •  koNko, Google's obligation is to its shareholders (0+ / 0-)

      I did not understand your comment accurately, and while you do refer to foreign income you don't make it clear that the tax rate is soley for the foreign income, or give a more complete picture by stating Google's actual effective US tax rate as noted by burrow owl. It really doen't matter what political philosophy its founders have, as a public company Google has a fiduciary duty to its shareholders to pay the minimum amount of US corporate income taxes. I noted a famous quote in one of my comments above that does a great job of explaining the obligations of US taxypayers (both individual and corporate), but I'll repeat it here:

      One of the most famous appellate judges of his generation, and a well know progressive, said it best in a 1947 case, Gregory v Halvering 69 F.2d

      "Anyone may arrange his affairs so that his taxes shall be as low as possible; he is not bound to choose that pattern which best pays the treasury. There is not even a patriotic duty to increase one's taxes. Over and over again the Courts have said that there is nothing sinister in so arranging affairs to keep taxes as low as possible. Everyone does it, rich and poor alike, and all do it right, for nobody owes any public duty to pay more than the law demands."

      Judge Learned Hand
      U.S. Court of Appeals  

      "let's talk about that"

      by VClib on Fri Oct 29, 2010 at 08:17:47 PM PDT

      [ Parent ]

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