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Silicon Valley giants accused of avoiding over $100 billion in taxes over the last decade

Silicon Valley giants accused of avoiding over $100 billion in taxes over the last decade

Six of Silicon Valley’s biggest companies had a combined “tax gap” of more than $100 billion this decade, according to a new analysis.

Alright liberals here are some of the biggest violators not paying their fair share in taxes, low and behold its Liberal ran companies. Maybe you should be going after your contributors instead of the president. 

Six of Silicon Valley’s biggest companies had a combined “tax gap” of more than $100 billion this decade, according to a new analysis.

Fair Tax Mark, a British organization that certifies businesses for good tax conduct, assessed global tax payments from Facebook, Apple, Amazon, Netflix, Google and Microsoft between 2010 and 2019. The companies are sometimes collectively referred to as the “Silicon Six.”

The research, published Monday, analyzed their 10-K filings, which are financial forms submitted by businesses to the U.S. government.

It looked at tax provisions — the amount companies set aside in their financial reports to pay taxes — and compared those to the amounts that were actually handed over to the government, referred to as cash taxes. Over the decade, the gap between the Silicon Six’s provisions and the taxes they actually paid reached $100.2 billion, researchers found.

The report noted that scrutiny of big corporations’ tax payments often focused solely on tax provisions, which was not always the final amount received by governments. It also claimed that profits continued to be “shifted to tax havens, especially Bermuda, Ireland, Luxembourg and the Netherlands.”

Researchers said the bulk of the shortfall “almost certainly arose outside the United States,” with foreign tax charges amounting to just 8.4% of the profit the companies made overseas during the decade.

Speaking to CNBC via telephone on Monday, Paul Monaghan, CEO of Fair Tax Mark, said there was an enormous difference between what companies accounted for and what they actually handed over in taxes.

“The amount of tax being paid by these businesses is $100 billion less than reported in their accounts,” he said.

Source: Silicon Valley giants accused of avoiding over $100 billion in taxes over the last decade

Kamala Harris drops out of presidential race

Kamala Harris drops out of presidential race

She made the announcement in a call with staff on Tuesday.

Thank God Kamala Harris is out of the race!! Her campaign has been gripped with turmoil from the start. If she can’t even lead a small group of people how would she possibly lead our country. 

Kamala Harris dropped her presidential campaign on Tuesday after months of failing to lift her candidacy from the bottom of the field — a premature ending for a California senator once heralded as a top-tier contender for the nomination.

Harris told aides of her intentions in an all-staff call. A person familiar with the call said she sounded distraught. While Harris had qualified for the December debate in her home state, she was running dangerously low on cash — lacking the resources to air TV ads in Iowa — and her staff was gripped by long-running internal turmoil. 

Still, the news came as a shock to some of her biggest supporters. Just as Harris was announcing the news internally, a super PAC had cleared more than $1 million in TV ads in Iowa to boost her struggling campaign. The ad, which argued she was the best-equipped candidate to take on Trump, was canceled.

“Eleven months ago at the launch of our campaign in Oakland I told you all: ‘I am not perfect.’ But I will always speak with decency and moral clarity and treat all people with dignity and respect. I will lead with integrity. I will speak the truth. And that’s what I have tried to do every day of this campaign. So here’s the truth today,” Harris wrote in a note to supporters. “I’ve taken stock and looked at this from every angle, and over the last few days have come to one of the hardest decisions of my life. My campaign for president simply doesn’t have the financial resources we need to continue .”

By CHRISTOPHER CADELAGO

Read the entire article here: Kamala Harris drops out of presidential race

Bloomberg campaign chief: Trump is winning 2020 election right now

Bloomberg campaign chief: Trump is winning 2020 election right now

Democratic presidential candidate Mike Bloomberg’s 2020 campaign chief Kevin Sheekey defended the former New York City mayor’s decision to skip early nominating states after his late entry into the

Democratic presidential candidate Mike Bloomberg’s 2020 campaign chief Kevin Sheekey defended the former New York City mayor’s decision to skip early nominating states after his late entry into the crowded primary field.

“Mike is getting in this race because he thinks that Donald Trump is an existential crisis and he thinks he’s on a path to victory and he’s getting in to alter that dynamic,” Sheekey said Monday in an interview with CNN.

Sheekey said the general election is only about six states: Wisconsin, Michigan, Pennsylvania, North Carolina, Florida and Arizona.

“That’s the whole general election. And right now Donald Trump is winning, he is winning that election. It’s very tough for people who don’t live in New York or California to understand that, but that is what’s happening,” Sheekey said.

Sheekey pointed to a set of New York Times and Siena College polls released earlier this month that showed Trump beating leading Democratic candidates in some of the six states he mentioned.

The polls showed Sen. Elizabeth Warren (D-Mass.) defeating Trump only in Arizona; Sen. Bernie Sanders (I-Vt.) doing so in three of the states and former Vice President Joe Biden doing so in four. All of the Democrats lost to Trump in North Carolina, which former President Obama carried narrowly in 2008.

BY REBECCA KLAR – 

Read the entire article here: Bloomberg campaign chief: Trump is winning 2020 election right now

House Dem now sees no ‘value’ in impeachment, as polls show falling support among independents

House Dem now sees no ‘value’ in impeachment, as polls show falling support among independents

Michigan Democratic Rep. Brenda Lawrence, a prominent supporter of Kamala Harris who has previously supported the impeachment inquiry into President Trump, abruptly announced Sunday that she no longer saw any “value” in the process and called for her fellow Democrats to throw their support behind a symbolic censure resolution.

Many Democrats see that the American people are not buying the impeachment theory. And they see the Election of 2020 in deep jeopardy. That’s why Bloomberg is throwing his hat in the pool, because they don’t have a winning hand. Let’s hope the American people remember how the Democrats have divided our country come election time. 

Michigan Democratic Rep. Brenda Lawrence, a prominent supporter of Kamala Harris who has previously supported the impeachment inquiry into President Trump, abruptly announced Sunday that she no longer saw any “value” in the process and called for her fellow Democrats to throw their support behind a symbolic censure resolution.

Lawrence’s about-face came as polls have shown that independents are souring on the idea of impeaching and removing Trump from office, including in critical battleground states like Wisconsin, even as House Democrats aggressively presented their focus-group-tested “bribery” case against the president over the past two weeks.\

“We are so close to an election,” Lawrence said Sunday on a Michigan radio program, noting that Trump stands little chance of being convicted by the GOP-controlled Senate. “I will tell you, sitting here knowing how divided this country is, I don’t see the value of taking him out of office. But I do see the value of putting down a marker saying his behavior is not acceptable. It’s in violation of the oath of office of a president of the United States, and we have to be clear that you cannot use your power of the presidency to withhold funds to get a foreign country to investigate an American citizen for your own personal gain. There’s no way around that.”

By Gregg Re | Fox News

Read the entire article here: House Dem now sees no ‘value’ in impeachment, as polls show falling support among independents

Michael Bloomberg launches Democratic presidential bid

Michael Bloomberg launches Democratic presidential bid

NEW YORK (AP) — Billionaire and former New York City Mayor Michael Bloomberg, one of the world’s richest men, has formally launched a Democratic bid for president.

Ending weeks of speculation, the 77-year-old former Republican announced his candidacy Sunday in a written statement posted on a campaign website describing himself as uniquely positioned to defeat President Donald Trump. He will quickly follow with a massive advertising campaign blanketing airways in key primary states across the U.S.

“I’m running for president to defeat Donald Trump and rebuild America,” Bloomberg wrote.

“We cannot afford four more years of President Trump’s reckless and unethical actions,” he continued. “He represents an existential threat to our country and our values. If he wins another term in office, we may never recover from the damage.”

Bloomberg’s entrance comes just 10 weeks before primary voting begins, an unorthodox move that reflects anxiety within the Democratic Party about the strength of its current candidates.

As a centrist with deep ties to Wall Street, Bloomberg is expected to struggle among the party’s energized progressive base. He became a Democrat only last year. Yet his tremendous resources and moderate profile could be appealing in a primary contest that has become, above all, a quest to find the person best-positioned to deny Trump a second term next November.

Forbes ranked Bloomberg as the 11th-richest person in the world last year with a net worth of roughly $50 billion. Trump, by contrast, was ranked 259th with a net worth of just over $3 billion. His businesses — among them are financial data services and news services in various formats — employ more than 19,000 people in 69 countries. They are also certain to raise ethical questions about how his news-oriented businesses will cover the campaign and financial conflicts of interest for a possible presidency.

Already, Bloomberg has vowed to spend at least $150 million of his fortune on various pieces of a 2020 campaign, including more than $100 million for internet ads attacking Trump, between $15 million and $20 million on a voter registration drive largely targeting minority voters, and more than $30 million on an initial round of television ads.

He did not say how much he would be willing to spend overall on his presidential ambitions, but senior adviser Howard Wolfson did: “Whatever it takes to defeat Donald Trump.”

By STEVE PEOPLES

Read the entire article here: Michael Bloomberg launches Democratic presidential bid

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