Your Bailout Money Hard At Work, Goldman Moves Offshore to Avoid taxes

[dc dalton]

Yuppers you heard it right, they took OUR bailout money, then moved everything they could offshore so this year they only have to pay 1% in taxes as opposed to the 34% they paid last year!

http://www.bloomberg.com/apps/news?p...d=aznONFlyupOI

Isn't that just the sweetest 'thank you' they could ever give?

[LorDiego01]

So what??

If I could do that, I'd do it in a heart-beat.

Lets lower taxes ALL around, and then you'll see business come right back to our shores.

[jerkin]

Do you really blame them? If you were able to pay a few hundred in taxes instead of $10,000 wouldn't you do it? You want to put the blame somewhere put it on the idiots in this country who pay absolutely no attention to what is going on but still go out and blindly vote for "their candidate". Our legislators voted in this horrible bailout, against public will, knowing there would be no backlash. Do you think they will lose their jobs over it?

EDIT: LD, we think too much alike, basically the same post seconds apart, lol.

[cgbudde]

I am more concerned about what I saw on the news last night. Goldman Saks took the bailout money and gave their top executives year end bonuses, and their reasonong was they need to pay to keep and attrach top people, yes it is hard to find perfect srewups.

[adymond]

I'm sort of torn on the whole business. I am pissed about the bailout. I don't mind them moving offshore to avoid stupid over inflated taxes (they are taxed on anything they buy, on the wages they pay to the employees, and then on their profit). Businesses get screwed. Lower the taxes across the board.

The bonuses is what I am really sort of torn on though. They needed money from us to continue business. Belts should have been tightened. They also had quantitative measures in place that had to be met for the execs to get previously agreed upon bonuses. If the execs met their end of the employment contract they are owed their bonuses.

[dc dalton]

I am more concerned about what I saw on the news last night. Goldman Saks took the bailout money and gave their top executives year end bonuses, and their reasonong was they need to pay to keep and attrach top people, yes it is hard to find perfect srewups.

Well this is all part of it ... I mean let's face it. We saved their butts (literally) THREW money at them to keep them alive when after all their bad business decisions so what do they do, keep paying their people stupid money for * cough cough * a job well done and then move as much as they can out of the country to cut their tax bill down to 1%, taxes that in fact are used to help pay these bail outs ... you see the dog chasing its tail here?

[phillyd2]

Lets lower taxes ALL around, and then you'll see business come right back to our shores.

Bingo - we have a winner

The paradox of lowering taxes to increase revenue was even understood by JFK. Every time it has been tried it has worked. Every time!

On can not help but wonder why we continue to do those things that have always failed?

[adymond]

Bingo - we have a winner

The paradox of lowering taxes to increase revenue was even understood by JFK. Every time it has been tried it has worked. Every time!

On can not help but wonder why we continue to do those things that have always failed?

Because as the economy fails and we pay more to bigger government we ALL become more dependant on the government whether or not we like it.

[Willie D]

That is completely f*cked up. It makes me literally sick to see a bunch of scumbag bankers living easy on my money, despite their professed love of "free markets". They should all be looking for work/jumping off buildings right now. Instead it's Privatize profits and Socialize risk.

So what??

If I could do that, I'd do it in a heart-beat.

Here's the thing: if you have lots of money, you can set up these shelters, offshore entities, what have you, and evade taxes. Businesses and individuals do it all the time. Trouble is, it takes the kind of money that the 99.5% of americans don't have so in effect the wealthy people/businesses who can afford to do this get their army, streets, schools, Medicare!, and federal bailouts - free - paid for by the work of people with less money. Money they would have paid into the system then gets made up for by tax increases on the rest of us too poor, stupid, or principled to cheat the taxman.

[adymond]

That is completely f*cked up. It makes me literally sick to see a bunch of scumbag bankers living easy on my money, despite their professed love of "free markets". They should all be looking for work/jumping off buildings right now. Instead it's Privatize profits and Socialize risk.




Here's the thing: if you have lots of money, you can set up these shelters, offshore entities, what have you, and evade taxes. Businesses and individuals do it all the time. Trouble is, it takes the kind of money that the 99.5% of americans don't have so in effect the wealthy people/businesses who can afford to do this get their army, streets, schools, Medicare!, and federal bailouts - free - paid for by the work of people with less money. Money they would have paid into the system then gets made up for by tax increases on the rest of us too poor, stupid, or principled to cheat the taxman.

Actually the uber wealthy don't really need to worry about doing all of that. If they make money off of dividends as many of them do they only pay 15% tax on that.