Congratulations to Verizon on their 98% loss on Tumblr
they paid $1,100,000,000 in 2013
and sold it today for under $20,000,000
and to think we the American tax payers routinely fund Verizon
Verizon's effective federal income tax rate was negative 2.8% from 2008 to 2012...
This allowed Verizon to avoid $7.3 billion in taxes and purchase Tumblr
Side note:
Verizon has $1.9 billion in accumulated offshore profits on which it does not pay U.S. taxes.
Welcome to America
Here's the hysterical kicker - when you look at your Verizon bill and it shows you the taxes
Yeah well guess what... that's actually revenue it's not taxes
Verizon collects taxes, they don't pay taxes