In news that is no longer surprising, another corporate behemoth has figured out a clever way to shirk its tax responsibilities. According to Business Week, financial titan Facebook earned more than $1.1 billion in pre-tax profits and yet "it will probably pay zero federal and state taxes — and even receive a federal tax refund of about $429 million."
Think about this. Facebook makes money hand over fist, but it doesn't owe a single penny in taxes? That's absolutely insane! Even more insane is that Facebook is getting a refund!!
But you probably won't hear ANY of our elected leaders grousing about this legal crime. You also won't hear them complain about all the other Fortune 500 companies who have somehow managed to shirk their tax responsibilities too. No, what we have been hearing and will continue to hear is that the federal budget is such a mess because of all of us leeches on Food Stamps or all those old fogies on Social Security.
Yeah, we are the problem. Certainly NOT Facebook!