More evil than genius? How iPad and Google Glass makers are secretly scamming America
We already knew Google and Facebook were resourceful. But their new scheme to rip off the U.S. Treasury is chillingDavid Dayen
To really understand the extent of Google and Apple’s innovative zeal, you may want to look past their groundbreaking products – and more at their tax avoidance strategies. In a new scheme that defies belief, some of the nation’s top tech giants are managing to evade taxation on money by parking it overseas – and then somehow taking government payments on it.
Though the rest of the business sector had a head start, tech firms have begun to lobby Washington with more persistence over the past few years; the top 10 spent more than $61 million in 2013. The more hopeful among us might believe this shift could possibly produce more beneficial results for the public. (After all, Google’s motto is “don’t be evil,” right?)
But while it’s true that, in certain discrete areas, tech lobbying has yielded positive results — like when companies aided grass-roots efforts to stop Internet censorship legislation sought by Hollywood — in the vast majority of cases, Silicon Valley wants what the rest of our multinational conglomerates want: low taxes and cheap labor. And they’ve been at the forefront of efforts to ensure that.
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