Slashdot Mirror
UK Announces 'Google Tax'
mrspoonsi points out that the UK has announced a "Google tax" on corporations that send a significant portion of their profits overseas to avoid local taxation. Any "economic activity" that is pushed to another country would face a 25% tax.
George Osborne, the Chancellor of the Exchequer [said], "We will make sure multinationals pay their fair share of tax. We will introduce a 25% tax on profits from multinationals here in the UK which they artificially shift out of the UK. Today we're putting a stop to it. It's unfair to British people." ... [C]orporate taxes are still low, because the system does not tax sales, it taxes profits. And those profits are fiendishly difficult to pin down. Intellectual property payments to holding companies, the movement of sales activity to lower tax jurisdictions and the cost of licensing fees to holding companies all confuse the picture and allow firms with very mobile business models (such as in the technology sector) to be highly tax efficient.
Again, more leftist chatter. No, society does not give me anything. I as well as presumably you, others (including corporations) pay for those services, whether provided by another company (electricity) or nominally the government (roads). Stop thinking of government as Mommy and start thinking of it the same way you do the corner deli or your auto mechanic. You give them money, they provide a good or service.