From Bloomberg.com
"Google Inc. cut it's taxes by $3.1 Billion in the last 3 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%, the lowest of the top five U.S. technology companies by market capitalization, according to regulatory filings in six countries."...
Comment: Any observant person recognizes that "money goes where it is treated best". The US has the 2nd highest corporate tax rate on earth at 35%. When companies feel that taxes are too high, then they send out teams of creative lawyers and accountants to find any loophole possible to avoid paying what they deem are exhorbitant and confiscatory taxes. I am dismayed that Google does this. This is wrong in my opinion. BUT, the reason they do this is that our corporate tax structure is unbelievably high. It is no wonder that companies do this because they feel like they are being shaken down by a corrupt federal government. I deplore both the greed of Google, though I understand the reasons why, and our own confiscatory tax code.
Other companies that also participate in the same tax avoidance scheme, from the article, include Facebook, and Microsoft.
Well said, and thanks for the post, Lancer.
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