Google on 'Immoral' Tax Evasion: 'It's Called Capitalism'

"Google avoided paying at least $2 billion in taxes in 2011 by siphoning off $10 billion in profits to a Bermuda shell company. The figure is almost double the amount the company was hiding offshore three years ago, official company documents show.

"When asked about Google's tax evasions by Bloomberg News last night, Schmidt said: ‘It’s called capitalism. We are proudly capitalistic. I’m not confused about this.’"

~ Craig Brown, staff writer

Google Executive Chairman Eric Schmidt