Celebrating Capitalism With Tax Avoidance!

I would like to ask you all to join me in fighting against the classwar rhetoric and the ‘evil rich’ memes that we’re drowning in, daily. Google exercised it’s rights under the convoluted, and horribly unmanagable system we refer to as the US Tax Code. They did everything in their power to reduce their tax bill and I APPLAUD them for it! It’s called ‘capitalism’… they’re just protecting their capital.

Mr Schmidt’s comments risk inflaming the row over the amount of tax multinationals pay, after it emerged that Google funnelled $9.8bn (£6.07bn) of revenues from international subsidiaries into Bermuda last year in order to halve its tax bill.

However, Mr Schmidt defended the company’s legitimate tax arrangements. “We pay lots of taxes; we pay them in the legally prescribed ways,” he told Bloomberg. “I am very proud of the structure that we set up. We did it based on the incentives that the governments offered us to operate.”

“It’s called capitalism,” he said. “We are proudly capitalistic. I’m not confused about this.”

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7 Responses to Celebrating Capitalism With Tax Avoidance!

  1. Matt says:

    And yet . . . Schmitt is an active Obama booster. I don’t get it.

  2. Powens says:

    @ Matt, perhaps because he knows things won’t change or, like in Atlas Shrugged, rules can be “adjusted” by the folks in power?

    I think this is spot on though. law makers make the laws. if there is a problem with the laws, it should be taken up with the authors.

  3. notamobster says:

    He’s a social liberal, and an individual capitalist. He’s all for spending whatever the government manages to confiscate on stupid liberal programs, but will do whatever he can to make sure it isn’t his – or his investors – money.

    The primary fault I find in his logic, is that he likes the idea of saving the world – but wishes to do so with other people’s money.

  4. EastBayLarry says:

    This kind of thing just makes me laugh. I mean, what ARE those 37,000 pages of tax code if not ways to reduce your liability?

    He’s just playing by the rules imposed by the government. If the government doesn’t like that, then they can change the rules.

  5. BaconNeggs says:

    The Socialist EU have been trying to introduce a single tax across sovereign nations, even going so far as to get UN backing for its theft. How long before Obama signs up the US for this taxation without representation too.

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