News today about California Senate candidate Carly Fiorina, who was CEO of Hewlett-Packard till February 10, 2005. Apparently, on January 25, 2005, just a few days before her departure, the company asked for and was granted a tax refund of $13 million dollars.
This seems to fit a pattern: companies do things to try to increase the after-tax earnings for company owners! Apparently, this concept is foreign to the writers at the LA Times.
Speaking of foreign, avoiding taxes is NOT unknown to the rabid Obama supporters at Google, who managed to avoid a staggering 238 times more in tax liability that Fiorina’s HP. Apparently, the people at Google really are smarter than the the folks at HP!
To me, these stories exemplify the differences between those who are fiscally conservative and those who consider themselves progressives. Fiscal conservatives advocate lower taxes, and then try to reduce their tax bill by a few million more.
Liberal progressives, on the other hand, advocate higher taxes for corporations and individuals, and then hire lawyers, accountants and tax consultants to help them set up all sorts of foreign corporations and tax-haven shell companies to reduce their tax bill by BILLIONS more, leaving folks like you and me to plug the deficit gap.