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Google's tax avoidance is called 'capitalism', says chairman


key2thecup

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Google is doing what a company does.. reduce costs. That indeed is capitalism. No problem there, and no reason to chastise Google.

The problem here is government and these "incentives". There has been far too much collusion between private enterprise and government in the form of "incentives", subsidies, stimulus, or bailouts, the kind of stuff that makes me severely dislike Keynesian economics due to the collusion between government and business that simply shouldn't exist, as it opens the doors to the type of corporatocracy the US has turned into.. case in point.

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Google is doing what a company does.. reduce costs. That indeed is capitalism. No problem there, and no reason to chastise Google.

The problem here is government and these "incentives". There has been far too much collusion between private enterprise and government in the form of "incentives", subsidies, stimulus, or bailouts, the kind of stuff that makes me severely dislike Keynesian economics due to the collusion between government and business that simply shouldn't exist, as it opens the doors to the type of corporatocracy the US has turned into.. case in point.

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And here lies an issue.

The income tax act is extremely complicated and I doubt there are more than 5 people in the legislature could find a CCA rate in the income tax act if it slapped them in the face. So they get external help from tax experts at big 4 firms and top tax law firms whose biggest clients, that they make millions off, are the corporations who are paying them to figure out how to get them out of paying taxes. A small conflict of interest.

Tax law/tax anything, is extremely lucrative for those who desire it.

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There's a wealth of resources availabe to learn stratagies that work for just about everyone.

The fact that most people don't even know what a TFSA or RRSP is (hint: it's not a GIC or mutual fund) even though many might actually posess them shows that it's primarily apathy guiding the ignorance.

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