President Obama’s spokesman said he didn’t “have an opinion” on Google using offshore accounts to lower its tax burden, despite the campaign attacks on Mitt Romney for having offshore accounts.
“I’m not even aware of that story, so I don’t have an opinion,” White House Press Secretary Jay Carney said when asked about Google chairman and Obama adviser Eric Schmidt defending the practice of offshore accounts.
“I am very proud of the structure that we set up,” Schmidt said when discussing how Google lowers its tax bill. “We did it based on the incentives that the governments offered us to operate . . .It’s called capitalism.” Schmidt, a major campaign donor for Obama, served on his 2008 Transition Economic Advisory Board.
The Obama campaign made the existence of Romney accounts in other countries a focal point of their attack on him.