Two Kinds of Tax Evasion
Google 2.4% Rate Shows How $60 Billion Lost to Tax Loopholes
Google Inc. cut its taxes by $3.1 billion in the last three years using a technique that moves most of its foreign profits through Ireland and the Netherlands to Bermuda. Google’s income shifting — involving strategies known to lawyers as the “Double Irish” and the “Dutch Sandwich” — helped reduce its overseas tax rate to 2.4 percent, the lowest of the top five U.S. technology companies by market capitalization, according to regulatory filings in six countries.
U.S. Rep. Cynthia Lummis says some of her Wyoming constituents are so worried about the reinstatement of federal estate taxes that they plan to discontinue dialysis and other life-extending medical treatments so they can die before Dec. 31. Lummis, a Republican who holds her state’s lone seat in the House, declined to name any of the people who have made the comments. But she said many ranchers and farmers in the state would rather pass along their businesses — “their life’s work” — to their children and grandchildren than see the federal government take a large chunk…She said the estate tax would go from zero this year to a maximum of 55 percent next year.” The estate tax is the portion of wealth the government takes from the assets of the diseased.
They might want to call Google’s lawyers first.
Two Kinds of Altruism
Oakley and the Chilean Miners – Publicity Goldmine (Doing Well By Doing Good)
Three Looks Back
First Ever Photograph of a Human Being
A Taste for Wormwood & Gall. Anthony Daniels writes about English philosopher John Stuart Mill’s unusually intellectual upbringing and marriage. If you’ve never heard this story, it’s a sad and fascinating one.
George and Sparky, a touching obituary by Joe Posnanski about legendary baseball manager Sparky Anderson, who passed away this week.