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Google defends $2 billion tax dodge

Original post made on Dec 13, 2012

Google chairman Eric Schmidt said Wednesday that he is proud of the way the Mountain View company is avoiding taxes, according to Bloomberg news service.

Read the full story here Web Link posted Thursday, December 13, 2012, 6:13 PM

Comments (24)

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Posted by close the loop holes
a resident of Old Mountain View
on Dec 13, 2012 at 7:50 pm

Easy way to rescue the country from the "fiscal cliff". Just close all these billionaires' tax loopholes. If the Republicans don't want to increase income taxes on millionaires, then go after the billionaires who are paying puny tax rates. That will raise more than enough money to save the country.

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Posted by badgoogle
a resident of The Crossings
on Dec 14, 2012 at 2:22 am

No, Dr. Schmidt, it's called greed and you should be ashamed.

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Posted by RBH
a resident of another community
on Dec 14, 2012 at 2:31 pm

Great documentary on this subject: Web Link

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Posted by Neighbor
a resident of Cuesta Park
on Dec 14, 2012 at 2:42 pm

These loopholes are a disgrace and show the incompetence and corruption of politicians who serve the interests of corporations more than the interests of the people they are supposed to represent. It is also a bit disingenuous of Eric Schmidt to suggest they are just playing by the rules -- the corporations get the regulations changed so they can exploit them for their own profit at the expense of the common good.

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Posted by juniperk
a resident of Gemello
on Dec 14, 2012 at 3:31 pm

Eric Schmidt and all other corporate execs put profit over ethics and common sense. And I am not surprised by his comments. He and his kind would say the same thing if their profit comes from genocide, human trafficking, money laundering,child labor. Look at Apple, Nike and their profits. these companies have no shame and they don't think ethics matter when it enriches them. What would think if somebody found some of his money on the road? Woudl he expect that someone to return the money to the appropriate owner? Just because there are ways to exploit loopholes, doesn't mean that you need to cheat by billions in taxes? I have no doubt Mr.Schmidt and his fellow google execs pays less than Mitt Romney in personal taxes and they also think it is perfectly OK for low wage earners not have any health benefits.

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Posted by kman
a resident of Monta Loma
on Dec 14, 2012 at 4:02 pm

"We pay lots of taxes; we pay them in the legally prescribed ways," Schmidt said, according to the article. "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."

All I have to say is wow. This is what lobbyist do for the companies.

There should be an investigation on who and how these loopholes were put into place.

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Posted by Mr. Nice
a resident of Blossom Valley
on Dec 15, 2012 at 9:21 am

I call it $... S M A R T... $

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Posted by Disgusted
a resident of another community
on Dec 15, 2012 at 9:38 am

Funneling profits through a shell corporation in Bermuda. A shell corporation? Let's call it what it is - a fake, deceiving entity solely designed to evade taxes. Shame on Google, shame on Apple, shame on the U.S. government for sanctioning tax evasion for the hyper wealthy while squeezing every drop of blood of the middle class.

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Posted by John
a resident of Monta Loma
on Dec 15, 2012 at 11:52 am

Wish we could do it.

Instead our property and income is a target for greedy taxing agencies to line their pockets with exorbitant salaries,, pensions and benefits, with little or no return to the public.

Google money would just go down the same rat hole that ours does.

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Posted by American who pays and pays
a resident of Cuesta Park
on Dec 16, 2012 at 6:54 am

As the Beatles say: Greedy little pigs!

"Have you seen the bigger piggies in their starched white shirts?
You will find the bigger piggies stirring up the dirt,
Always have clean shirts to play around in.
In their styes with all their backing they don’t care what goes on around,
In their eyes there’s something lacking,
What they need’s a damn good whacking.
Everywhere there’s lots of piggies living piggie lives,
You can see them out for dinner with their piggie wives,
Clutching forks and knives to eat their bacon."

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Posted by John
a resident of Monta Loma
on Dec 16, 2012 at 9:20 am

@american who pays:

I can only assume you are referring to the tax takers, yes they are greedy with an insatiable appetite for more more more.

Look for more tax increases in 2013 and beyond

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Posted by John H.
a resident of St. Francis Acres
on Dec 16, 2012 at 9:51 am

Tax money should be used for only two things: defending our borders and delivering the mail. The government fails miserably on both of these.
The wars in Afghanistan and Iraq are pointless because neither country is a threat for invading our borders.
So why does the federal government need all that ca$H?

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Posted by Kate
a resident of Cuesta Park
on Dec 16, 2012 at 12:12 pm

I'm totally fed up with these arrogant self-congratulatory tax-evading modern day traitors who run corporations with no regard for this country or this planet.

I fed up. Close all the tax loopholes and exclusions and ploys that so severely reduce US govt REVENUE. Taxes constitute govt income and that is its only source or income.

It is delusion to think that you increase revenue by decreasing expenses (ie govt programs). That merely widens the gap between the two factors but it is not the solution to increasing revenue/income. DuH? It seems the GOoPs (Grand Ol' ornery Party) just don't know that basic dynamic of economics.

I'm fed up... aren't you?

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Posted by Rodger
a resident of Sylvan Park
on Dec 16, 2012 at 3:20 pm

As they say you can have the best laws money can buy, but only the rich can buy laws. We could stop this but many in this country think they will soon be rich and thus they think it's smart to vote for the Republicans.

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Posted by John
a resident of Monta Loma
on Dec 16, 2012 at 7:13 pm

Fed up with the tax burden.

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Posted by Fred
a resident of Old Mountain View
on Dec 16, 2012 at 11:50 pm

Anyone offended by absurdly inequitable tax collection can read Perfectly Legal by David Cay Johnston.
If we don't educate ourselves on this subject we will keep pointing fingers at each other and venting our anger in the wrong direction.

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Posted by Alan
a resident of Jackson Park
on Dec 17, 2012 at 10:07 am

Very liberal of you Schmidty!

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Posted by jupiterk
a resident of Gemello
on Dec 17, 2012 at 2:30 pm

it is very clear Corporation control the agenda and the direction of this country and this world. When we common folks like me have a real revolution in this country for equality and fairness, the line to the gallows will be very long. There are just way too many corrupt crooks running these corporations and pocketing way too much money at others work,pain and sweat. Schmidt thinks it all fair and square.

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Posted by Bettina
a resident of Monta Loma
on Dec 17, 2012 at 3:11 pm

It seems that most of the residents in Mtn View, based on the comments above, do not approve of the tax breaks extended to Google so that they can be based in Mtn View. Perhaps they should look at a new location. I believe they contribute a lot more to the city than most people realize. As an example, free internet. I don't see any corruption either, I am sure they are following all the tax rules that were put in place the legislature and the City council. Would you like it if they took away your mortgage deduction and child tax credit or whatever you do to reduce your on tax burden? By the way, did a poor person ever give you a job?

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Posted by starguy
a resident of Blossom Valley
on Dec 17, 2012 at 9:26 pm

Sounds like SOMEBODY is reluctant to pay his "fair share".

And with OFFSHORE accounts, too.

Oh, but Eric Schmidt is a big-time liberal, so that makes it OK, right?

Never mind, then.

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Posted by Steven
a resident of Blossom Valley
on Dec 18, 2012 at 12:09 pm

Although legal, the loopholes afforded many corporations, not just Google, rub people the wrong way. If they want to move, it's okay with me. Every time something doesn't go Google's way, there is talk of leaving. Go ahead, leave. Some people don't like being blackmailed.

And as far as what Google gives to the city, they're not doing it out of the goodness of their heart. Free internet for Mtn. View? Whoopee!

And let us not forget, a company cannot survive without the rank and file, i.e. "poor" people. Believe it or not, the "rich" people aren't doing the average worker any favors by hiring them. In fact, salaries have gone down overall because of the economy and employers know the average job seeker will work for less just to have a job.

Maybe if Schmidt didn't come across as smug and arrogant, Google's tax rate wouldn't have been an issue. Perhaps he should let his PR people doing the talking.

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Posted by Bettina
a resident of Monta Loma
on Dec 18, 2012 at 2:38 pm

Google rank and file workers are poor? These are exactly the sort of higher than average wage jobs we need. Since you would like Google to leave Mtn View, who should replace Google that would pay "the rank and file, i.e. poor people" more money than Google pays them now?
Companies are in the business to make money and provide good shareholder value not be warm and fuzzy. I am proud and happy to own 8 shares of Google.
I have been a waitress for 20 yrs and I really appreciate the free internet.

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Posted by Steven
a resident of Blossom Valley
on Dec 18, 2012 at 3:40 pm

Nowhere did I say I want them to leave. I, apparently like many, simply don't like corporate greed. Comparing individual tax breaks with those of multi-billion dollar companies is not a good comparison.

Posted by Name hidden
a resident of Whisman Station

on Jun 2, 2017 at 4:52 pm

Due to repeated violations of our Terms of Use, comments from this poster are automatically removed. Why?

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