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Submission + - How Google Avoided Paying $60 Billion In Taxes (bloomberg.com)

An anonymous reader writes: This article has already been submitted but the title and summary are incredibly misleading. The first sentence of the article says Google saved $3.1bn, not $60bn, using specific tax loophole techniques. The US government loses $60bn from all US companies that use these techniques. Google's overall effective tax rate was 22.2% (halfway through the article). The 2.4% tax rate was what their overseas tax rate, not their US or their overall tax rate.

The title needs to be changed and the 2.4% changed to 22.2%. Alternatively it can be clarified that the 2.4% is the overseas rate.

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