Thursday, October 21, 2010

Google 2.4% Rate Shows How $60 Billion Lost to Tax Loopholes

by Jesse Drucker from Bloomberg News

In a time when all levels of governments are facing deficits, laying off workers, slashing public spending and welfare, the multi-national corporations are finding ways to not pay taxes. Learn the tax evasion techniques--all legal--of these corporations which often had originally benefited from government financial assistance. 

What is the Obama administration's response? More study.
While the administration “remains concerned” about potential abuses, officials decided “to defer consideration of how to reform those rules until they can be studied more broadly,” said Sandra Salstrom, a Treasury spokeswoman.