In 2009 Google announced a project in which it would pursue a so-far elusive goal – to produce “Renewable Energy Cheaper Than Coal” (“RE<C” was Google’s acronym). Why the Internet search giant thought it could succeed where other more experienced and knowledgeable companies (like electric utilities and alternative energy businesses) have failed for many decades shows the level of arrogance reached at the upper management levels. Either that or it illustrated how much Google’s leaders sought to ingratiate themselves with the Obama administration by following its “Green jobs” agenda.
Google Inc. cut its taxes by $3.1 billion in the last three years using a technique that moves most of its foreign profits through Ireland and the Netherlands to Bermuda.
Google’s income shifting -- involving strategies known to lawyers as the “Double Irish” and the “Dutch Sandwich” -- helped reduce its overseas tax rate to 2.4 percent, the lowest of the top five U.S. technology companies by market capitalization, according to regulatory filings in six countries.
Of course, Google executives were among Barack Obama largest campaign contributors. CEO Eric Schmidt stumped for candidate Obama, and he and other senior executives contributed $150,000 to help pay for the inaugural celebration.