No, not Mitt Romney.
Google has paid nearly nothing in taxes over the last few years:
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.
Google has sheltered about $10 billion offshore– in Bermuda:
Google Inc. (GOOG) avoided about $2 billion in worldwide income taxes in 2011 by shifting $9.8 billion in revenues into a Bermuda shell company, almost double the total from three years before, filings show.
By legally funneling profits from overseas subsidiaries into Bermuda, which doesn’t have a corporate income tax, Google cut its overall tax rate almost in half. The amount moved to Bermuda is equivalent to about 80 percent of Google’s total pretax profit in 2011.
The increase in Google’s revenues routed to Bermuda, disclosed in a Nov. 21 filing by a subsidiary in the Netherlands, could fuel the outrage spreading across Europe and in the U.S. over corporate tax dodging. Governments in France, the U.K., Italy and Australia are probing Google’s tax avoidance as they seek to boost revenue during economic doldrums.
Last week, the European Union’s executive body, the European Commission, advised member states to create blacklists of tax havens and adopt anti-abuse rules. Tax evasion and avoidance, which cost the EU 1 trillion euros ($1.3 trillion) a year, are “scandalous” and “an attack on the fundamental principle of fairness,” Algirdas Semeta, the EC’s commissioner for taxation, said at a press conference in Brussels.
So what does Obama do with someone like that? Well, he offers him a Cabinet position:
Mr Schmidt, 57, was offered the job of Treasury or Commerce Secretary or a new “Secretary of Business” slot, according to the Washington Examiner.
An anonymous strategist for the Democrats told the newspaper: “Nobody’s better positioned for a Cabinet job, if he wants one.”
Obama blasted Romney for offshore accounts:
If offshore accounts are bad why does Schmidt get a pass? As always- the money:
Mr Schmidt played in a key role in the re-election of President Barack Obama last month, helping to oversee Google’s $700,000 donation to his campaign.
Liberals will give us some crap about this being different because Schmidt wasn’t running for President but that’s all it is- crap. It’s either acceptable to have offshore accounts or it’s not. To assert that offshore accounts are unacceptable for a President but acceptable for a Treasury Secretary is asinine. It’s even worse than appointing a Treasury Secretary who doesn’t pay his own taxes.
Liberals are the ultimate conflation of hypocrisy and stupidity on a galactic scale.