Thursday, July 7, 2016

P&G accused of tax evasion

Cincinnati's corporate culture is ultraconservative. Criticism of major Cincinnati corporations is usually not tolerated. And the local media supports corporate Cincinnati with a vengeance.

I was only in college when I started my spontaneously combustible underground newsletter criticizing Tri-State corporatism. I had good reason for it. You have to remember this was right after the Brossart and CPH disasters - which were unforced errors on their part. So I can't expect to be hired for even a menial job by major corporations that do business locally, and why would I want to at this stage? Corporate Cincinnati did a lot of irreparable damage - to me and others.

Now Procter & Gamble - the powerful Cincinnati-based consumer goods giant - is under investigation by countries around the world accusing it of tax evasion.

Italy is probing P&G because of allegations that the company routed revenue from its sales there through Switzerland so it wouldn't have to pay taxes. P&G's Italian offices were searched by tax collectors.

Plus, P&G has been the target of tax evasion investigations in Mexico and Argentina.

Some of you can probably see where we're going with this.

Big corporations seem to think they don't have to pay taxes like we do. Why do you think big banks don't have to pay a sales tax when they buy a smaller bank, but you have to pay a sales tax when you buy an Adele album or something?