Yes they pay taxes overseas, then use that as a deduction, so the foreign country gets tax dollars and the U. S. gets to give them billions in refunds. How is this different from giving foreign aid to these countries? Americans get nothing.
As for Berkshire Hathaway, I do not recall bringing them up, or defending them in any way. I guess the point you are making is that anybody who disagrees with the tea party automatically inherits all the right wing targets. So how do these people differ from exxon hiding capitol in the Bahamas?
Well you got me Jimbo. Since one liberal icon has issues with his company, that automatically dismisses all liberal billionaires who also want their taxes raised. Got any tax related dirt on them?
How long have the Bush tax cuts been in effect for the wealthy job creators? Why can no one list all the jobs they have created?
Can someone please tell me what the republican job plan is????? All I can find is them talking about tax breaks for business. Yep, that is why my boss hires more techs, not because we need them in the field, but because he got some tax breaks.
And then there’s Exxon-Mobil, which paid more in income taxes than any other U.S. company last year,
just none of it to the U.S.:
Exxon tries to limit the tax pain with the help of 20 wholly owned subsidiaries domiciled in the Bahamas, Bermuda and the Cayman Islands that (legally) shelter the cash flow from operations in the likes of Angola, Azerbaijan and Abu Dhabi. No wonder that of $15 billion in income taxes last year, Exxon paid none of it to Uncle Sam, and has tens of billions in earnings permanently reinvested overseas.
Instead, the $15 billion was divided among the countries where Exxon has set up one of its hundreds of foreign subsidiaries. In total, Exxon
122 foreign subsidiaries, including 32 in countries that are
officially labeled tax havens by the U.S. government. It has
18 subsidiaries in the Bahamas, and 3 each in the Cayman Islands, Hong Kong, and Singapore.
In each of the last two years, the Obama administration has
proposed eliminating the loopholes and incentives in the tax code that allow companies to set up subsidiaries in these low- or no-tax countries, which help them lower their effective tax rate
by 20 points or more. Both times, the administration saw its efforts
rebuffed by Congress and
the Big Business lobby, which means that a
$100 billion annual tax burden will continue to be shifted onto U.S. taxpayers (including corporations) that don’t engage in this sort of tax evasion.
You defend big oil, what makes them different from Berkshire Hathaway??
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