Big American Corporations Not Paying Their Fair Share Of Tax
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We now know why the Big Tech oligarchs switched their allegiance to Donald Trump. It was all about the international effort to end Big American corporations not paying their fair share of tax in the countries they do business. Former US President Joe Biden had backed this initiative, as had Australia and Europe. Trump took the money from Google, Facebook, Amazon, Elon Musk and other tech giants backing his campaign and in return has bullied those nations who were attempting to get these corporations to pay their fair share of tax on the billions they generate around the world. The selfishness of these Americans knows no bounds.
US Companies Minimise Their Tax In Places Like Australia & Europe
It is not enough to be worth hundreds of billions of dollars and to generate huge profits every year. No, on top of this they minimise their tax by locating their head offices in low tax places like Ireland and the Cayman Islands and shifting profits by way of creative taxation accounting. It is a scam in reality perpetuated on every country in which they trade. Big American corporations not paying their fair share of tax.
“To put it simply, multinational companies move their income offshore to their other offices and their subsidiary companies in countries with low tax rates (Luxemburg, Bermuda, British Virgin Islands, Singapore), while at the same time moving their debts to high tax jurisdictions like Australia, where they get better deductions for debts or expenses.”
Corporate Scam Perpetuated On Workers Who Have To Pay Income Tax
Like everything in human life one company starts doing this and the rest of them copy it. Who does this? News Corp the company that owns all the newspapers in Australia, plus Sky News Australia, Fox News and a host of radio stations. Apple does it too. Microsoft, Google, Pepsi, and a host of other US companies. Over a third of companies in Australia pay no tax at all in recent years.
“In the last decade there have been moves to tax income in the location of the economic activity. The OECD has tried to stop profit shifting by companies, which erodes the tax base of high taxing jurisdictions, through its tax reform agenda.”
Donald Trump Bullying Australia & Europe Over Taxing US Companies
Donald Trump and the GOP are not content to starve the American people of the necessary tax revenue to fund government services for them they are, also, coming after initiatives to tax US companies in Australia and elsewhere at a fairer level commensurate with the revenue they generate in these nations. This is why Elon Musk, Mark Zuckerberg, Jeff Bezos and Google’s CEO were all kissing the ring of Trump at his second inauguration. It is all about not paying tax via the bullying might of the US economically globally. It is disgusting really and a true insight into these people and the American agenda under Trump.
A lot of folk buy into this idea that it is smart not to pay tax. It isn’t! These US companies are not heroes but scumbags neglecting their responsibilities and bending laws through loopholes. The obscene greed of American corporations and those that lead them are disgusting. Bezos in Venice spending $50 million on his wedding whilst not paying his fair share of tax on revenue of $637 billion globally. https://www.macrotrends.net/stocks/charts/AMZN/amazon/revenue#google_vignette
$350 billion for Google’s parent company Alphabet. Apple made $638 billion in 2024.
“Accounting tricks are helping Big Tech firms avoid paying tax on up to 96.6 per cent of their Australian income, according to a new analysis of Australian Taxation Office (ATO) figures that showed Apple was the worst offender when it came to corporate tax minimisation. The tech giant took $9.3 billion from Australian customers during the 2021-22 financial year, making it Australia’s 21st largest company by revenues “
American Big Tech Are Bad Companies Led By Bad People
If you are not incensed by this situation you should be. These companies that like to promote their products as so wonderful are actively scamming us, which reduces tax revenue which is used to fund health, education, and other government services. The US companies are cheating the system and are now being aided and abetted in this by the bully in the White House. Think twice before you buy stuff from these companies – Apple, Google, Microsoft, News Corp, Meta (Facebook & Instagram) – in future. American Big Tech is on the nose when it comes to doing the right thing by the people they sell to and their nations. US Big Tech stinks by association with Trump too! Big American corporations not paying their fair share of tax around the globe and here at home.
The Trump Thing
You know every time one of these journalists reports on Donald Trump and makes out his importance it is feeding this whole mob boss paradigm. Trump is a proven compulsive liar. Trump is a convicted felon in the US. The media is complicit in the whole Trump thing. Truth Social is like social media itself largely hot air and not much else. This Trump phenomenon will continue as long as they keep stoking the fire for its entertainment value. In every nation around the world the media asks their leaders about Trump and what they will do about him. They actively promote this largely false premise about the power of Trump. The US is waning as a power. The US dollar is fast losing its currency as the only truly international money for trade and investment. Trump is a symptom of America’s serious decline and not any resurrection. A two bit celebrity conman who has the media thing worked out. We all need to wake up to the facts. Narcissists don’t get better by giving them the attention they seek.
“This land of billionaires and oligarchs who boast of enormous fortunes but still pay little tax. Where the rich grow richer and under Donald Trump slash any semblance of the welfare state. A nation where members of Congress stay in power well into extreme old age. Are Americans the most selfish folk on earth? The idea of community seems an alien concept and maybe they confuse it with communism? They idolise the wealthy and the largely fraudulent narrative of the self-made man. A nation of immigrants who now attack the most recent waves of immigrants, as bad people deserving of detainment and deportation.”
Robert Sudha Hamilton is the author of Money Matters and America Matters: Pre-apocalyptic Posts & Essays in the Shadow of Trump.
©MidasWord
