Sunday 17 December 2017

James Downey: Google chief Schmidt pushing all the wrong buttons

James Downey

James Downey

ERIC Schmidt, chairman of Google, has declared himself proud of his company's ability to avoid paying colossal sums in tax. "That's capitalism," he tells us.

Mr Schmidt's practices are far from rare. Massive avoidance schemes are common in some of the best-run countries. They are designed by very clever people. And they're perfectly legal, unlike the criminal offence of tax evasion.

But they're not capitalism. Not necessarily, anyway.

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