Let me just add as a resident of Silicon Valley who sees poverty every day, it does not inspire me with admiration to see how the extreme wealth generated here, but kept by the tiniest sliver of the one percent, gets used while the rest of us not only do not share in the wealth we created, but suffer from the consequences of higher cost of living, congestion, and failure of these corporations to pay their fair share of taxes. Today on Facebook, I saw this:
http://billmoyers.com/2014/01/17/we-...t-skyrocketed/
Poverty would have been eliminated -- eliminated -- if income inequality had not become so exaggerated. So, no, I am not inspired by her story. Give me a break.
Just found this re oracle --
Quote:
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Fast-forward a decade, over which Oracle finalized four more pacts, including two governing foreign tax benefits, generally covering fiscal years 2002 through 2013, excepting 2006. It also consolidated hundreds of offshore subsidiaries into six core affiliates in Ireland, and by this year had amassed $26 billion in cash held overseas -- more than seven times 2003's level. As of May, when its 2013 fiscal year ended, Oracle had nearly halved its tax bill. It paid $2.6 billion in cash income taxes on pre-tax income of nearly $13.9 billion, a rate of just under 19%.
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I'd much rather the corporation paid its taxes, so that we had enough beds for homeless people here in the oh so wealthy Silicon Valley. I'd be much more inspired by that.