December 29, 2012 by Rick Rottman
Facebook paid only 0.3% taxes on $1.34 billion in profits
Facebook earned over $1.34 billion in profits, yet because of various tax gimicks involving the country of Ireland and the Cayman Islands, they only paid $4.64 million in taxes. That works out to be a tax rate of 0.3%.
If it wasn’t for the Internet, Facebook wouldn’t exist. If it wasn’t for the federal government, which funded ARPANET, the predecessor of the Internet, Facebook wouldn’t exist. The fact that Facebook paid next to nothing in taxes is a travesty and it’s ridiculous. It’s un-American.
When people talk about corporations or the very rich not paying their “fair share” of taxes, this is exactly what they mean.