Easy way to rescue the country from the "fiscal cliff". Just close all these billionaires' tax loopholes. If the Republicans don't want to increase income taxes on millionaires, then go after the billionaires who are paying puny tax rates. That will raise more than enough money to save the country.

No, Dr. Schmidt, it's called greed and you should be ashamed.

Great documentary on this subject: http://werenotbrokemovie.com

These loopholes are a disgrace and show the incompetence and corruption of politicians who serve the interests of corporations more than the interests of the people they are supposed to represent. It is also a bit disingenuous of Eric Schmidt to suggest they are just playing by the rules -- the corporations get the regulations changed so they can exploit them for their own profit at the expense of the common good.

Eric Schmidt and all other corporate execs put profit over ethics and common sense. And I am not surprised by his comments. He and his kind would say the same thing if their profit comes from genocide, human trafficking, money laundering,child labor. Look at Apple, Nike and their profits. these companies have no shame and they don't think ethics matter when it enriches them. What would mr.schmidt think if somebody found some of his money on the road? Woudl he expect that someone to return the money to the appropriate owner? Just because there are ways to exploit loopholes, doesn't mean that you need to cheat by billions in taxes? I have no doubt Mr.Schmidt and his fellow google execs pays less than Mitt Romney in personal taxes and they also think it is perfectly OK for low wage earners not have any health benefits.

"We pay lots of taxes; we pay them in the legally prescribed ways," Schmidt said, according to the article. "I am very proud of the structure that we set up. We did it based on the incentives that the governments offered us to operate."

All I have to say is wow. This is what lobbyist do for the companies.

There should be an investigation on who and how these loopholes were put into place.

I call it $... S M A R T... $

Funneling profits through a shell corporation in Bermuda. A shell corporation? Let's call it what it is - a fake, deceiving entity solely designed to evade taxes. Shame on Google, shame on Apple, shame on the U.S. government for sanctioning tax evasion for the hyper wealthy while squeezing every drop of blood of the middle class.

Wish we could do it.

Instead our property and income is a target for greedy taxing agencies to line their pockets with exorbitant salaries,, pensions and benefits, with little or no return to the public.

Google money would just go down the same rat hole that ours does.

As the Beatles say: Greedy little pigs!

"Have you seen the bigger piggies in their starched white shirts?
You will find the bigger piggies stirring up the dirt,
Always have clean shirts to play around in.
In their styes with all their backing they don’t care what goes on around,
In their eyes there’s something lacking,
What they need’s a damn good whacking.
Everywhere there’s lots of piggies living piggie lives,
You can see them out for dinner with their piggie wives,
Clutching forks and knives to eat their bacon."

@american who pays:

I can only assume you are referring to the tax takers, yes they are greedy with an insatiable appetite for more more more.

Look for more tax increases in 2013 and beyond

Tax money should be used for only two things: defending our borders and delivering the mail. The government fails miserably on both of these.
The wars in Afghanistan and Iraq are pointless because neither country is a threat for invading our borders.
So why does the federal government need all that ca$H?

I'm totally fed up with these arrogant self-congratulatory tax-evading modern day traitors who run corporations with no regard for this country or this planet.

I fed up. Close all the tax loopholes and exclusions and ploys that so severely reduce US govt REVENUE. Taxes constitute govt income and that is its only source or income.

It is delusion to think that you increase revenue by decreasing expenses (ie govt programs). That merely widens the gap between the two factors but it is not the solution to increasing revenue/income. DuH? It seems the GOoPs (Grand Ol' ornery Party) just don't know that basic dynamic of economics.

I'm fed up... aren't you?

As they say you can have the best laws money can buy, but only the rich can buy laws. We could stop this but many in this country think they will soon be rich and thus they think it's smart to vote for the Republicans.

Fed up with the tax burden.

Anyone offended by absurdly inequitable tax collection can read Perfectly Legal by David Cay Johnston.
If we don't educate ourselves on this subject we will keep pointing fingers at each other and venting our anger in the wrong direction.

Very liberal of you Schmidty!

it is very clear Corporation control the agenda and the direction of this country and this world. When we common folks like me have a real revolution in this country for equality and fairness, the line to the gallows will be very long. There are just way too many corrupt crooks running these corporations and pocketing way too much money at others work,pain and sweat. Schmidt thinks it all fair and square.

It seems that most of the residents in Mtn View, based on the comments above, do not approve of the tax breaks extended to Google so that they can be based in Mtn View. Perhaps they should look at a new location. I believe they contribute a lot more to the city than most people realize. As an example, free internet. I don't see any corruption either, I am sure they are following all the tax rules that were put in place the legislature and the City council. Would you like it if they took away your mortgage deduction and child tax credit or whatever you do to reduce your on tax burden? By the way, did a poor person ever give you a job?

Sounds like SOMEBODY is reluctant to pay his "fair share".

And with OFFSHORE accounts, too.

Oh, but Eric Schmidt is a big-time liberal, so that makes it OK, right?

Never mind, then.

Although legal, the loopholes afforded many corporations, not just Google, rub people the wrong way. If they want to move, it's okay with me. Every time something doesn't go Google's way, there is talk of leaving. Go ahead, leave. Some people don't like being blackmailed.

And as far as what Google gives to the city, they're not doing it out of the goodness of their heart. Free internet for Mtn. View? Whoopee!

And let us not forget, a company cannot survive without the rank and file, i.e. "poor" people. Believe it or not, the "rich" people aren't doing the average worker any favors by hiring them. In fact, salaries have gone down overall because of the economy and employers know the average job seeker will work for less just to have a job.

Maybe if Schmidt didn't come across as smug and arrogant, Google's tax rate wouldn't have been an issue. Perhaps he should let his PR people doing the talking.

Google rank and file workers are poor? These are exactly the sort of higher than average wage jobs we need. Since you would like Google to leave Mtn View, who should replace Google that would pay "the rank and file, i.e. poor people" more money than Google pays them now?
Companies are in the business to make money and provide good shareholder value not be warm and fuzzy. I am proud and happy to own 8 shares of Google.
I have been a waitress for 20 yrs and I really appreciate the free internet.

Nowhere did I say I want them to leave. I, apparently like many, simply don't like corporate greed. Comparing individual tax breaks with those of multi-billion dollar companies is not a good comparison.

Due to repeated violations of our Terms of Use, comments from this poster are automatically removed. Why?