LinkedIn paid no taxes last 3 years - Bill Clinton blamed

[dmcowen674]

2-23-2013

http://www.forbes.com/sites/mikeoza...-pay-taxes-past-three-years/?partner=yahootix

It's Bill Clinton's Fault LinkedIn Did Not Pay Taxes These Past Three Years

Some folks are sure upset at LinkedIn. Last week the social media site released its its second 10-k since going public in 2011 and it showed $130 million in executive stock option expenses over the past three years resulted in the company paying no federal income taxes.


An article in the New York Post called LinkedIn’s stock option compensation a “longstanding accounting trick.”

But its disgust should be directed at Bill Clinton instead of LinkedIn. His first budget as president in 1993 limited the amount of executive pay that could be deducted from pretax earnings, so companies significantly increased stock options as a component of executive compensation.

If Clinton hadn’t sought to limit tax deductions for executive pay 20 years ago we wouldn’t have to worry so much about LinkedIn’s taxes.

 

[dmcowen674]

Somehow I doubt that Bill Clinton had the desired effect of all these Companies such as Google and LinkedIn not paying taxes.

 

[Engineer]

Just get rid of the corporate income tax and all of the tax subsidies to them and let it go. It's nothing but a battle anyway and then, those who constantly bitch about the US having the highest corporate rate (not burden, rate) in the world can search for a new thing to complain about as to why companies aren't moving here.

 

[Lithium381]

Yay for more government regulation and unforeseen/unintended consequences!!!

 

[Veliko]

If Bill Clinton is to 'blame' for it, surely that means LinkedIn also hold him responsible for it and will be giving him his fair share... right?

 

[gevorg]

The value of intelligence data that they pass over to the government is worth billions. That's how LinkedIn, Facebook or any other major social networking site pays their taxes to Uncle Sam.

 

[AyashiKaibutsu]

So either they don't pay taxes to begin with due to deductions or they don't because they skirt around it... How does the blame fall on Clinton when they wouldn't pay taxes either way?

 

[dmcowen674]

So either they don't pay taxes to begin with due to deductions or they don't because they skirt around it... How does the blame fall on Clinton when they wouldn't pay taxes either way?

It's what Republicans do.

 

[Londo_Jowo]

It's what Republicans do.

Really, Jeff Weiner is an Obama supporter.

http://www.campaignmoney.com/political/contributions/jeff-weiner.asp?cycle=12

WEINER, JEFF
MENLO PARK, CA
94025
Linkedin/Ceo
$35,800 09/28/2011 P
OBAMA VICTORY FUND 2012 - Democrat

 

[Anarchist420]

I wish there were more deductions.

 

[DCal430]

2-23-2013

http://www.forbes.com/sites/mikeoza...-pay-taxes-past-three-years/?partner=yahootix

It's Bill Clinton's Fault LinkedIn Did Not Pay Taxes These Past Three Years

Some folks are sure upset at LinkedIn. Last week the social media site released its its second 10-k since going public in 2011 and it showed $130 million in executive stock option expenses over the past three years resulted in the company paying no federal income taxes.


An article in the New York Post called LinkedIn’s stock option compensation a “longstanding accounting trick.”

But its disgust should be directed at Bill Clinton instead of LinkedIn. His first budget as president in 1993 limited the amount of executive pay that could be deducted from pretax earnings, so companies significantly increased stock options as a component of executive compensation.

If Clinton hadn’t sought to limit tax deductions for executive pay 20 years ago we wouldn’t have to worry so much about LinkedIn’s taxes.

You do realize those options and gains on them were subject to ordinary income tax.

 

[DCal430]

The reason they can deduct it is because it cost the company that much money, the cost to the company is the same as if they had given the employees money to buy the stock. The employee is tax at ordinary incone as if they were paid in cash.