A Senate committee memo accuses Microsoft (MSFT) of using international subsidiaries to avoid...

A Senate committee memo accuses Microsoft (MSFT) of using international subsidiaries to avoid paying $6.5B in taxes, and H-P (HPQ) of creating internal loans in order to use offshore cash for domestic purposes without paying taxes. Neither company is accused of illegal behavior, though judging by comments from committee members, the investigation will increase pressure to close the tax loopholes that made their maneuvers possible. (tax holiday lobbying)

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Comments (4)
  • Windsun33
    , contributor
    Comments (4431) | Send Message
    It was congress that put those "loopholes" into law in the first place, and now they are whining about it?
    20 Sep 2012, 12:20 PM Reply Like
  • wigit5
    , contributor
    Comments (4365) | Send Message
    The problem is the Tax Code itself... It needs a major overhaul to a simpler version...


    And I'm not for a complete tax holiday for money over seas but maybe cut it in half for just a month every 2-4 years.


    And to your point this is textbook politician lol
    20 Sep 2012, 12:24 PM Reply Like
  • Ted Bear
    , contributor
    Comments (700) | Send Message
    You can bet that at the time Congress put these loopholes in place it was to benefit a 'constituent' that had made a substantial 'campaign' contribution.


    Just like when they parade their constituents in front of them in a dog and pony show hearing, these phony 'cries' are meant to appease the great unwashed and make the citizenry feel like Congress is 'looking out for them'.


    Bwahhhaaaaaaa......Con... looking out for anyone who is not directly filling their personal coffers. How funny is that!


    (CNBS running the story now,..,.....that makes it 'official' for the sheeple).
    20 Sep 2012, 01:02 PM Reply Like
    , contributor
    Comments (6299) | Send Message
    $45.00 this year with Microsoft.


    21 Sep 2012, 02:39 AM Reply Like
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