The blithering idiots at Oxfam

Ever ones to ride a populist wave:

US corporations have $1.4tn hidden in tax havens, claims Oxfam report

What’s this “hidden”? It’s all there, right in their accounts. Twats.

9 thoughts on “The blithering idiots at Oxfam”

  1. Exactly my sentiments.

    Truth is no longer important. I don’t own any Apple shares but I know they have not repatriated world-wide profits to the good ole US of A because they immediately would have to pay corporate tax on it (Is the rate 35%?) despite having paid the corresponding local tax on profit. So they keep it off-shore, while lobbying for imporoved conditions for repatriation, and for use in investing elsewhere.

    It is in the accounts. It is not hidden. It has not been ‘sneaked’ out of the States. It is legitimate. It is honest. It is in the best interest of the owners.

  2. Idiots. A quick look at the GE balance sheet shows they have $70 bn cash in the whole corporation, so how they have $110 million stashed in tax havens will be a mystery to their auditors. Rather they probably own quite a few assets in tax havens, including not just subsidiaries but also the large GECAS aircraft operating lease portfolio.

  3. so how they have $110 million stashed in tax havens will be a mystery to their auditors.

    Your point is fine but I’ll pendantically note that the article claims $119 _billion_ stashed by GE.

  4. One point, if those dozy people at Oxfam know about the money it cannot be well hidden.

    Of course it is not hidden as it has been reported.

    I am tired of pointing out the obvious to the social justice warriors. When I say that the money is not hidden as we know about it and the tax authorities know about it and that all the tax has been paid, all I get back is a cross look, folded arms and ‘Yeah, but….’

    At the end of the day, social justice warriors believe that any spare cash that people or companies have should be automatically spent on feeding the poor, healing the sick and building social correct progressive infrastructure projects like community outreach centres and wind turbines.

    Fuck them. Just remember to wear a condom. Who knows where they have been.

  5. @ Alex
    Aha! They are the ones hiding cash from their auditors in the tax havens!! I can just imagine Murphy claiming that GE are hiding cash from their auditors in secret accounts in secret (so we don’t where they are) tax havens. No connection with reality is required

  6. The Inimitable Steve

    Bilbaoboy – Truth is no longer important.

    This is an idea I’ve been rolling about in my mind for a while now.

    You’re absolutely right, of course. We’re well into the “make shit up” and “feels over facts” age.

    And it may just be my nostalgia, but I do think the problem of people in positions of responsibility shamelessly – even proudly – telling brazen lies all the time is worse than ever.

    It’s as if all the adults have left the building.

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