Goldman Sachs reduces tax rate to one percent
Thu, 18 Dec 2008 06:49:38 -0800
Say you got a ten billion dollar loan to shore up your finances, and you paid your employees $10.9 billion, and you raked in $2.3 billion for the year.What would you say you owed in taxes? One percent? That's what Goldman Sachs will pay for 2008; after getting a $10 billion bailout, they've lowered their tax rate 33% by moving profits offshore.
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