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GAO Reports Bailout and Tech Firms Love Tax Havens
theodp writes "Most of America's largest publicly traded corporations and Federal contractors — including those receiving billions of dollars from US taxpayers to finance their recovery — have set up offshore operations that could help them avoid paying US taxes, according to a GAO study released yesterday. Of the 100 largest public companies, 83 do business in tax-haven hot-spots like the Cayman Islands, Bermuda, and the British Virgin Islands. The report found that Citigroup, a recipient of $45B in bailout funds so far, has set up 427 subsidiaries in tax-haven countries, including 91 in Luxembourg, 90 in the Cayman Islands, and 35 in the British Virgin Islands. Household names on the lists from the tech sector include Apple (1 tax haven subsidiary), Cisco (38), Dell (29), HP (14), Intel (6), IBM (10), Microsoft (8), Motorola (4), and Oracle (77)."
I don't care what 'the point' is,
You should care what the point is, because if you don't respond with points the are "relevant" then you're just a crazy asshole ranting on the internet about the the perceived misrepresentation of statistics.
For the record "twice as much" is A LOT in my book, but thankfully you're not concerned with "the point" only your soapbox.
Sure. But it was Paulson (former head of Goldman Sachs) who begged for a cool trill to hand out to Goldman Sachs and related friends, with no accountability, audits, or even records. They're not sure at all where all those TARP dollars went to. I find that shadiest.
Second shadiest is Obama, who was massively on the take from Fannie Mae and Freddie Mac, and was involved in lawsuits (when he was working as a lawyer) suing banks to get them to make bad home loans.
But yeah, there's plenty of shade to go around. As our president, John Henry Eden says, Washington was ruined by a bunch of half-wits and incompetents.