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Links 12/14/12

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“On the other hand, if you are an important person, and you work for a big international bank, you won’t be prosecuted even if you launder nine billion dollars. Even if you actively collude with the people at the very top of the international narcotics trade, your punishment will be far smaller than that of the person at the very bottom of the world drug pyramid.”                                  http://www.rollingstone.com/politics/blogs/taibblog/outrageous-hsbc-settlement-proves-the-drug-war-is-a-joke-20121213#ixzz2F26TAJzl

“Documents filed last month show that Google generated around £2.5 billion in UK sales last year but paid just £6m in corporation tax. The Californian based search giant has also been revealed to have sheltered nearly $10bn of its revenues in Bermuda allowing it to avoid some $2bn in worldwide income taxes in 2011. But Mr Schmidt said such schemes were legitimate and the company paid taxes “in the legally prescribed ways”. “I am very proud of the structure that we set up. We did it based on the incentives that the governments offered us to operate,” he said.                 Read more: http://www.belfasttelegraph.co.uk/news/local-national/uk/google-boss-eric-schmidt-im-proud-of-our-tax-avoidance-schemeits-called-capitalism-16249970.html#ixzz2F4XbqeDZ

 

 

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