google s tax tricks are not against the law. they are actually the norm. how does it work? it is a sophisticated tax plan. as long as corporations are based on profitability . we ll see this as well we have a 35 percent corporate income tax rate in this country. you don t see this anywhere else. goingle used bermuda which is nine percent . as a result of that, you are going to see companies doing this. the key here is, gretchen, goog will didn t defer taxes but avoided two billion worth of the income to the united states government by doing this. steve: it is not just google. we are talking about massive american companies that are doing this. is is this what the speaker of the house john boehner is talking about. he offered president obama, we ll close the tax loop holes.
and somehow as a tax credit of $1.1 billion. so i paid more taxes last year than the company that owns all of this? now, does that meantime companies are unpatriotic and immoral? no, you see, the most important thing to understand is that companies don t have nationalities and they don t have morals. they re not emoral actors, they re amoral machines. they re profitmaking robots. they re not allowed to have a soul or have feelings. if an executive paid the company s full taxes out of his patriotic duty he d be removed from his post. that s not how it works. and remember, google s whole mantra is, don t be evil. and they avoided $3.1 billion in taxes in the last three years by doing these same kinds of tax tricks. why? because they re legally bound to make as much money as possible for their shareholders.
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