HP Grabs $14.5B Job Creation Tax Break As It Celebrates Layoffs
from the how-does-that-work? dept
theodp writes "As long as Congress is PO'ed at HP for blowing privacy smoke up its ass, perhaps they should take a look at today's 10-Q SEC filing, in which HP boasts that it: 1) 'Repatriated $14.5 billion under the provisions of the Jobs Creation Act of 2004,' 2) Reaped additional 'savings from our workforce reductions,' and 3) Expects more savings from 'subsequent headcount reductions ' that will further curtail pension and medical liabilities. With 'Job Creators' like this, who needs Chainsaw Al?"Thank you for reading this Techdirt post. With so many things competing for everyone’s attention these days, we really appreciate you giving us your time. We work hard every day to put quality content out there for our community.
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Wow...
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Re: Wow...
Take into consideration Dunn's recent activities as CEO.
People generally don't make just "one" mistake, especially if it's regarding ethics. You either have ethics, or you don't.
My thought is defraud, but hey, I'm pretty much a moron when it comes to finances.
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Re: Wow...
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Re: Wow...
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OMG
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Then again.. between King Bush and Congress.. who's to say they aren't being paid too? Maybe their line item in HP's budget is tied to our "representatives" voting record? What's the going rate for a senator these days? Anybody know?
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It's not really a "tax break."
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Re: It's not really a "tax break."
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Re: It's not really a "tax break."
The only reason that these earnings stayed offshore to begin with is because it was deemed too expensive to repatriate them at ordinary tax rates.
The fact that the tax break is designed to lead to desirable consequences (in this case, in increase in the US credit limit) used to be the reason that tax breaks were enacted -- to encourage behavior deemed desirable by Congress. But its still a tax break.
(From in International Tax CPA who has seen this happen more than once).
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Re: It's not really a "tax break."
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I have an idea, lets put the MAJOR shareholders to work and see if they want all that stress.
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