The Furor Over Google's $3.1 Billion Tax Haven
Bloomberg has an eye-opening report Thursday about an elaborate tax haven saving Google $3.1 billion. The company uses subsidiaries in Ireland, the Netherlands and Bermuda and, as a result, benefits from a stunningly low overseas tax rate of 2.4 percent. Considering the U.S. has a $1.4 trillion budget shortfall, havens like these threaten to tarnish Google’s “responsible corporate citizen” image.
This is the backlash you get when you have a motto like, “Don’t be evil.” They loaded the PR powder keg that blows up every time they have to act like an actual corporation.
