Sunday, October 24, 2010

HEADS I WIN, TAILS YOU LOSE...

You may recall this story:
Google 2.4% Rate Shows How $60 Billion Lost to Tax Loopholes
By Jesse Drucker - Oct 21, 2010 3:00 AM MT

Google Inc. cut its taxes by $3.1 billion in the last three years using a technique that moves most of its foreign profits through Ireland and the Netherlands to Bermuda.

Google’s income shifting -- involving strategies known to lawyers as the “Double Irish” and the “Dutch Sandwich” -- helped reduce its overseas tax rate to 2.4 percent, the lowest of the top five U.S. technology companies by market capitalization, according to regulatory filings in six countries.
For the wingers, Google is a leftist organization so it's perfectly reasonable to attack them for not being "patriotic" instead of focusing on the real issue, tax loopholes.

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