Google: the Teflon Company
The arrogance that is Google knows no bounds. That is because there are barely any consequences for what it does or what its executives say. It is amazing that Google can talk about doing no evil and not get laughed out of the room.
Here is a rundown on recent news: Google was found to be sheltering billions in profits in Bermuda (among other shelters), allowing it to pay a paltry 3.2 percent in corporate tax. Now let's not forget these profits come from co-opting the content of others -- Google, unlike Yahoo and AOL, produces no content whatsoever.
So what does Google get for this behavior? Reports came out that Google chairman Eric Schmidt was offered an Obama Cabinet post (information probably spread by Google) followed by reports that Google chairman Eric Schmidt declined an Obama Cabinet post (information probably spread by Google).
When we don't pay our taxes we lose our houses or go to jail. Google gets offered a key government positions. And you are not going to believe what the job was -- Treasury Secretary. Having Google run the treasury is like having Bernie Madoff watch your wallet.
After letting the world know that Schmidt was offered and declined the treasury post, the chairman was asked about his own company taxes:
"I am very proud of the structure that we set up. We did it based on the incentives that the governments offered us to operate," Schmidt said. "It's called capitalism. We are proudly capitalistic. I'm not confused about this."
Just because Schmidt is technically right about legally avoiding taxes doesn't make it right.
Posted by Doug Barney on 01/07/2013 at 1:19 PM