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This just in!! Microsoft, Hewlett-Packard and other multi-nationals "in 47% too"!!

Old_JoeOld_Joe
edited September 2012 in Off-Topic
Senate Report: Multinationals, Including Microsoft, Avoided Billions In Taxes

Mr. Romney, speaking in Sarasota, Florida, today said that "large corporations are no different than large people", and that "if you can make over a billion dollars in one year there's absolutely no reason that you should have to pay taxes because since you built that business without any help from the government the government has no business expecting you to pay any taxes. Besides, a very rich corporation is entitled to the same protection from taxation as the rest of us very rich people". He added: "I'm not sure what I just said, but whatever it was, I stand by it."

(I made up all that last part.)

Comments

  • AccipiterAccipiter
    edited September 2012
    > Multinationals, Including Microsoft, Avoided Billions In Taxes

    Isn't that the goal of a corporation? or at the very least a mantra, or something a ceo sings about when taking a shower.

    Ayn Rand is probably having a glass of champagne - at least a spirit having spirits in the spirit of things.


  • scott
    edited September 2012
    Maybe he should ask his co-chairman of the campaign, former Minnesota gov Pawlenty, what to do about things like this. Oh wait, Pawlenty, who said that Wall Street should get their "Snout Out Of The Trough" is now the head of a lobbying organization for Wall Street.

    HPQ is a dinosaur and will not go away soon but will not last. I don't know the investment thesis for Microsoft, either, aside from heavy investment in video games (an industry that's in the toilet), Windows 8 (I've heard good and bad) and mobile (which has a fair chance of doing as well as they did with the Zune.)

    As for corporations avoiding billions in taxes, there is no way that that is going to stop, despite all the BS protests to the contrary. Their lobbyists get more done for their corporations than congress gets done for the country.

    I said it earlier today, I think Romney is intentionally trying to lose.
  • hank
    This thread's just too *** funny. BTW - Toys R Us is bringing out its own tablet computer with wi fi next month. Priced right for us 47%ers at $149.
  • InvestorInvestor
    Reply to @scott:
    " Maybe he should ask his co-chairman of the campaign, former Minnesota gov Pawlenty, what to do about things like this. Oh wait, Pawlenty, who said that Wall Street should get their "Snout Out Of The Trough" is now the head of a lobbying organization for Wall Street."
    So true. And this guy was the favorite with tea partiers at some point. So ironic.
  • Sven
    Reply to @Accipiter: We are looking at the tip of the iceberg. Many large multinationals are practicing the exact same thing. There are ample of loopholes within US tax codes that allow these corporation to get around them it is probably all legal. It will be interest to see when Microsoft and Hewlett Packard testify in the congress.

    Same goes for off-shore accounts for wealthy individuals.
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