
Google 2.4% Rate Shows How $60 Billion Lost to Tax Loopholes - antr
http://www.bloomberg.com/news/2010-10-21/google-2-4-rate-shows-how-60-billion-u-s-revenue-lost-to-tax-loopholes.html
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sp332
_Such income shifting costs the U.S. government as much as $60 billion in
annual revenue_

No, it doesn't. The US gov't never had a claim to this money, so there's no
way they can lose it.

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russell
Having a little trouble with language are you? The headline and the story dont
support your interpretation. The story says that closing tax loopholes that
allow separate allocation of expenses and revenue will gain the US up to $60B
in revenues. A more sensible allocation is based on number of employees or
revenues, or cost of production.

Apologies to those who dont like snide remarks, but I also dislike distortion
to make a political point.

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sp332
Of course a different tax law would have different tax revenues. But current
tax law lays _no_ claim to this money.

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Vandy_Travis
It'll be interesting to see how foreign laws (specifically, EU laws regarding
privacy) affect taxes. Will future facebooks decide to not incorporate in the
EU in order to avoid their (more) stringent privacy protection laws? If so,
that could bring more revenue in to the U.S. treasury.

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antr
this shifts the tax burden to small and medium size companies that can't
exploit these loopholes with the same ease as larger corporates. it looks like
SMEs are the only companies helping to reduce the budget deficit. the system
needs to change.

