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Why is this man smiling? |
Facing a $2.8 billion deficit and pending insolvency, Washington State’s House Bill 3176 proposes changes to its B&O Royalty tax that would give Microsoft an estimated $100 million tax cut annually and possible amnesty for more than a billion dollars in past tax evasion.
Under current law, all of Microsoft’s worldwide licensing revenues of approximately $20.7 billion annually are taxable at .484 percent or ~$100.1 million. Under the new law, only the portion of software licenses sold to Washington state customers would be taxable – perhaps resulting in less than a million annually in royalty tax from the company.
The lead sponsor of HB3176 is Democratic Representative Ross Hunter, who represents Medina, home to Bill Gates and a number of current and former Microsoft billionaires and multi-millionaires, and other areas around Microsoft’s corporate campus.
BTW, Hunter is a former Microsoft manager.
Thanks, Cináedh
I say offer them the tax break… but for something in return. Perhaps a contract to stay put for 100 years, and regulations on outsourcing to protect local jobs.
I’m not even in your country, but there has to be a way that everyone benefits.
What else would you expect from these budy-system representatives?
And, as if we needed more proof that both parties are just a bag-o-scum, here’s the nugget from the article: “The lead sponsor of HB3176 is Democratic Representative Ross Hunter”
C’mon sheeple, come and defend this one!
#6 I suggest reading before putting your foot in your mouth.
#8 That’s it, dig a deeper hole for yourself. Is only the Repukes that are greedy.
“Using open source software, the US Navy was able to standardize the shipboard systems on its new destroyers, reducing the complexity of the ship’s systems and their reliance on proprietary real-time software. Wall Street now uses this same technology to execute orders predictably, without relying on vendor-specific hardware and software.”
It’s a cash and carry world. Sometimes you pay a little, sometimes you pay a lot and there are the times when you pay everything. OSS is a powerful force. We can’t gamble with national security.
Sad !
“The Fed is gambling that private investors will step in to buy the securities, helping to keep rates from spiking. Senior officials in the Obama administration and at the Fed say they are counting in part on foreigners to keep the housing market funded.” WaPo reports. Gambling created the mess, so maybe gambling can fix it. Maybe the genius types at AIG are in charge of the financial engineering. If we sell all your houses to China or Dubai, we can get a fat bonus. Everybody can pay for the same real estate twice. Instead of just sending your jobs overseas, you’ll send your mortgage payment there. It needs to work for Microsoft, so you guys get tax benefits. I never pay for the same real estate twice.
Joe Schmuck works 2 minimum wage jobs and pays nearly one third of his income in taxes, M$ pays less than half a percent. Joe Schmuck makes a $1,000 mistake in his income tax declaration and the government prosecutes him with the full weight of the law. M$ intentionally evades a billion and buys some politicians to get amnesty. Not only is this patently unfair, it’s clear that the entire system is heading for a meltdown.
It’s not too late to emigrate!
Perhaps we could shift our focus here…why should Washington state by allowed to screw ANY person or corporation to feed a bloated, insatiable bureaucracy?
#26 Riiiight. Because that shiz doesn’t happen in Europe.
Funny… corporations want to be treated like people until it comes to paying taxes like people. What a surprise.
#28 Pedro, Here in Europe if somebody owed a billion in taxes they sure as hell wouldn’t be able to get amnesty this way. Also you can be sure the only reason you got M$ headquarters there still is because they pay less taxes there than anywhere else. I ain’t sayin’ this kind of crap doesn’t go on, I’m just saying they have to use more discretion or there are serious political consequences. In the US big money owns both political parties, so there it’s irrelevant.
#30 Now you crack me up. Specially since you’re in Spain and no bank there does what MS is trying to pull, right?
Geez!
The RICH ***NEVER HAVE ENOUGH*** !!! They ***ALWAYS WANT MORE*** !!! Time to ***SOAK THE RICH AND BALANCE THE BUDGET AND PAY OFF THE NATIONAL DEBT !!! It’s only fair, since the RICH HAVE BEEN STEALING IN ALL DIRECTIONS SINCE REAGAN !!!
A PostScript: If, as “Supremes” have ruled, Corporations have all the Free Speech Rights as any other Citizen, why aren’t Corporations paying the PERSONAL INCOME TAX, LIKE ANY OTHER CITIZEN ? Distinguishing between Classes of Citizens is a VIOLATION OF THE EQUAL PROTECTION CLAUSE !!!
PostPostScript: What’s with the picture of Uncle Fester ?