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Back in October Bloomberg
ran a story on how Google pays little in taxes on foreign source
income. I wondered at the time if this story would go anywhere. It seems
that it has.
This nice letter from the SEC is the last thing that Mr. Schmidt wanted to see. Probably this is good for the stock, right?
The SEC doc:
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Translation:
Dear SEC,
We though we could get away with it.
Signed,
Eric
In addition to being Bullish Plus 9 Richter Earthquakes, Epic Tsunamis, Nuclear Spewing of Harmful Radiation, Civil Wars, Escalating Israel-Arab Tensions, Oil Spills, USA Insolvency and European Default...I'm Bullish SEC Inquiry Letters. GOOG is defintely a BUY right now.
Google is just one of many companies that uses various strategies to reduce its taxes. Accountants give them names like "Double Irish" and "Dutch Sandwich". They generally involve running income and expenses around a circuitous path through Caribbean islands and low tax countries like Ireland. If the SEC is saying they have a problem with Google doing this, pretty much every multi-national now has a tax problem.
I'm sure all of Eric Schmidt's Washington friends were shocked, shocked to learn that he didn't like paying taxes. At all the parties, he told them how he agreed with them about taxing the rich.
This will go nowhere. Google as part of the military-industrial-complex (demostrated by their cozy relationship with the NSA) means this is just good television drama.
Goog is so tight with the current administration they have nothing to fear and besides
Eric (the end of Privacy) Schit is slated to become Secretary of Commerce
http://www.theregister.co.uk/2011/03/19/eric_schmidt_said_to_join_obama_...
Sounds like the military-nerdustrial complex will be putting the 'google checkout' on more and more of our transactions.
yawn on the sec letter.
where did google get its seed money in the first place???
http://www.prisonplanet.com/articles/december2006/061206seedmoney.htm
Eric Schmidt's reply to the SEC.
“We know where you are. We know where you’ve been. We can more or less know what you’re thinking about.”
And SEC...
"To save your staff search time, here are the web's best tranny porn sites..."
actually the googie does have software that can predict the future:
http://thenextweb.com/google/2010/05/04/google-invests-company-predicts-...
Google VS SEC. What would that be comparative to?? Godzilla vs Krasting's foot fungus?? Either somebody's been drinking in the morning or hasn't been watching the SEC from roughly the time Gramm-Leach-Bliley was passed, which has killed even the facade that there is financial regulation in place.
Krasting---see what the label was on the bottle you were drinking when you wrote the FASB piece and go back to that one.
Could someone clarify why this is serious? The SEC is just asking them to elaborate in their disclosure statements. Since I imagine they already have deals in place with the IRS, I don't see this costing them anything.
Google would likely survive bankster apocalypse.
more bad news for jewgle:
http://www.guardian.co.uk/technology/2011/mar/23/google-online-library-p...
yes i'm antisemitic, now face the facts.
http://www.radioislam.net/islam/english/jewishp/internet/jews_behind_int...
This same web page cited above from Radio Islam, on the topic of 'The Jewish Hand Behind Internet', was forwarded to me by non-Zionist Jewish friends in Belgium, who noted their partial approval of the article. That 'Radio Islam' site is apparently from Muslims in Sweden under the leadership of Moroccan-heritage Mr Ahmed Rami.
Belgium has a large traditional Jewish community, centred in Antwerp, which is quietly and significantly non-Zionist, though often afraid to be too public about it, though privately detesting and scorning the State of Israel as the devil's plot against spiritual Judaism.
Though my non-Zionist Jewish acquaintances had some criticism of the overall tone of this Radio Islam article, and wished there was more of a nuanced identification of the kind of atheist-Zionist and pro-US-oligarch Jews involved, versus speaking of 'the Jews' generally ...
My Jewish friends' view is that this article, however 'anti-Semitic' sounding, is, tragically, significantly accurate... and that one of the important parties being repressed by these internet control systems, is the non-Zionist Jewish community, which used to be the majority of Jews before World War II and the Holocaust.
As Israeli Jewish peace activist Uri Avnery recently wrote, in the old days before World War II, whenever there was a Zionism conference, the Jewish religious rabbis used to protest at how evil and un-Jewish it was in their view.
Now, however, it is the Zionist camp which is driving the overall 'image' of Judaism ... my Belgian Jewish non-Zionist friends deeply regret this turn ... but they feel helpless to fight or oppose the dominance of the Zionist wing of Judaism via the media control systems as described in this article.
+100
al bin bahir bin ho-mo-h bin bahir
If you're antisemitic you are anti-Arab too, as they're Semitic also, sons of Ishmael, according to old testament legend, brother to Isaac. As for quoting an Islamic radio here doesn't help your pitch. It's pot calling the kettle black. Sorry don't buy this junk propaganda. The "facts" only show bright intelligent people of jewish origin in their PRIVATE lives...so what...?
If you tax em you hurt the tit that Benocide sucks every night. They own him. As they are the white knights of WS, the great Tech hopes of PDs, the TBTF bankstas that OWN the FED.
One big happy family of incestuous plutocrats that own also Congress and WH, red, white and blue kinds. Now all they have to do is own Libyaaaa and then they can rest for a bit.
Do no evil mantra, screw em, I say. Tax the crap out of Corporations.
Taxing corporations is just another form of taxing you. You are getting bent over and don't even know it.
Truth!
Personal experience with an IRS fishing tip suggests they hacve been assigned a mission impossible. The government is broke- needs funds. Where CAN the trillions come from?
The offshore sources are well concealed and "lawyered up". The will to risk donations by increasing tax on the upper income brackets just isn't there yet. So what sources are left?
Anyone want to bet that the first push will be to go after Mr. and Mrs. John Q. ?
But, IMO, eventually, public backlash will result in a income tax structure modification.
yes re the corp tax i remember a finance prof i had - a visiting lecturer from chicago's money corridor lasalle street - explained that if pols really wanted to max jobs the corp tax rate should be zero
but that econ reality will of course never fly on side street usa demonize corporations at every turn doncha know
but having said that i confess after seeing that story how goog was gaming the system i havent 'googled' anything since there're other search engines and im sure goog is trembling at the loss not
yeah govt tax systems are completely effed up but just the same weaseling out of playing on the square is a textbook 'greedy corporatation' move not one a 'cool' player like goog should make or so it would seem
what's the solution? the us corp rate should be set 2-3 percentage points below the worldwide avg (g7?) and the individual rate 2-3 below that to keep working stiffs like you and me from itchingbay about it
but that would take some real political leadership on the fiscal education front not all that difficult really but im not holding my breath for that day to arrive