They are bad apples because they were left unchecked and allowed to become massive conglomerations.
Teddy Roosevelt was spot on when he broke up the Trusts. The Conglomerations need to be broken up in the US, once again.
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Apple Lobbying for International Tax Amnesty to Bring Home Profits
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They are bad apples because they were left unchecked and allowed to become massive conglomerations.
Teddy Roosevelt was spot on when he broke up the Trusts. The Conglomerations need to be broken up in the US, once again.
Of course it won't go to execs, for the most part. If anything, it would mainly benefit large shareholders. But what's your point? It's still cheating.
I'll pass on a dividend and bonds for Apple if it means they take ten or twenty billion and reinvest it into new areas of business and thus create jobs in the US.
You are correct but to confirm this would mean to dispel all those republican lies and talking points.
Capital gains are going up from 15% to 20% in 2013. This rate increase would give companies the incentive to repatriate cash before the rate goes up if changed to the capital gains rate.
For corporations, the capital gains tax rate is 35%, which is the same as for ordinary income.
true about the corporate pay tax after salary expense, but still it is double taxation, just smaller.
many people pay 40% all the time, because they live in the majority of US states that have state income tax.
after they pay their income tax, they spend the remaining 60% of their income, and then when they spend they pay 10% of sales tax. do you call that not double taxation?
when i invest, sure i only pay tax on my profit, but why shall i? i already paid tax on the money i invested!
so by the same logic, when i lose $5m in stocks, shall the government give me $5m in tax deduction? after all, if i make money in stock governemnt take money from me, if i lose money they should give me money back then!?
how come the tax deduction for investment loss is only meager 3k a year?
for your unemployment points: people do get ahead, because they still work under-table.
you are only calculating numerical values but not opportunity cost.
if i made $40k before, and w/ unemployment i only make $20k, to you i am losing $20k, but if my free time is worth $30k to me, then i am ahead.
dont forget, unemployment is money paid for working zero hour.
so what do people (like my friend) do? they find work without getting noticed by the goverment. they go on craigslist and join dozen focus groups, clinical trials, small projects, or teach private lesson. heck go even write a book or make iPhone apps. why not? you are getting paid for breathing.
US tax is cheaper than EU but these companies keep their money in Bermuda and Cayman (tax haven)
Uh, no, for corporations, the US has one of the HIGHEST tax rates in the industrialized world. Even Timothy Geithner, President Obama's Treasury Secretary, says the rate needs to come down.
http://www.upi.com/Top_News/US/2011/02/16/Geithner-Cut-US-corporate-tax-rates/UPI-77721297846800/
Ha. Ha. I love it when lefties like Jobs (err... he was and is publically known to be an Obama supporter as well as the Democratic party and its platform) see the benefit of tax cuts when it comes to themselves yet want everyone else to pay their "fair" share. What hipppocricy.
Yes, the corporate tax rate is too high (highest in the industrialized world in fact) and that has its negative consequences on the economy with a lot of "locked up" capital sitting on the sidelines. However, the economic boom (and greater cash intake for the treasury) that such a tax cut would unleash is impossible because it violates the left's #1 tenant of schadenfreude. Happy that Steve understands the corp tax rate is too high but sorry that he doesn't think it should applies to more than Apple.
Yes, the corporate tax rate is too high (highest in the industrialized world in fact) and that has its negative consequences on the economy with a lot of "locked up" capital sitting on the sidelines. However, the economic boom (and greater cash intake for the treasury) that such a tax cut would unleash is impossible because it violates the left's #1 tenant of schadenfreude. Happy that Steve understands the corp tax rate is too high but sorry that he doesn't think it should applies to more than Apple.
All this talk about different kinds of taxes, loopholes, who pays what, etc. is warping my fragile little mind! 
I really wish the US would simplify its tax code and close all the loopholes. I'd like to see the US lower its rates so corporations aren't as tempted to move its operations overseas to save money. It'll put more people at work, plus the government would be able to get the money it needs to offer the services people want. That's one problem I've heard from multiple people: they want all these services, but don't want to pay for them. I know, not all people are like this, and not necessarily most people. But enough to still make it frustrating.
I really wish the US would simplify its tax code and close all the loopholes. I'd like to see the US lower its rates so corporations aren't as tempted to move its operations overseas to save money. It'll put more people at work, plus the government would be able to get the money it needs to offer the services people want. That's one problem I've heard from multiple people: they want all these services, but don't want to pay for them. I know, not all people are like this, and not necessarily most people. But enough to still make it frustrating.
You could take those bonds and dividends and fund your own company so that you can create the jobs you think are most important to create in the U.S. Or you can use those funds to buy stuff from the U.S. companies that will use your added revenues to do the same. Or you could hire more services for yourself (repaint, remodel, etc.) and thus also fund more local jobs. Why depend on some profit-focused company to do what you think is important?
Corporations don't pay taxes. They are passed along to their customers (higher prices), their employees (lower wages), or their shareholders (lower dividends). Anything that isn't passed along reduces their ability to invest in maintenance, growth, or R&D.
Corporate taxes just alter the business decisions made by companies. They will always make decisions based on maximizing their profits and staying competitive. Most corporations have choices about where to do business. High taxes in one location simply encourage them to move their business elsewhere.
Any "altruistic" company that decides to stay in a high tax location will lose either employees, customers, or shareholders (depending on who they pass those taxes onto) to companies in low tax locations.
Corporate taxes just alter the business decisions made by companies. They will always make decisions based on maximizing their profits and staying competitive. Most corporations have choices about where to do business. High taxes in one location simply encourage them to move their business elsewhere.
Any "altruistic" company that decides to stay in a high tax location will lose either employees, customers, or shareholders (depending on who they pass those taxes onto) to companies in low tax locations.
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Taxes
For years politicians have been playing class warfare for their own power. They pit poor against rich and its harmful, dishonest, divisive and destructive. The truth is the poor pay no federal taxes. Anyone one who comments that the so called rich get away with everything on the back of the poor has believed the harmful, dishonest, divisive and destructive politicians. It hold poor people back, they are told the system is not "fair" so don't bother try to get ahead just vote for me and I'll take money from the "rich" and hand it to you. Most of the bottom 50% on income earners not only pay no income taxes they get money back (ie cash payments).
Here are the stats:
Top 1% of income earners pay 40% of all taxes
Top 5% of income earners pay 60% of all taxes
Top 50% of income earners pay more than 97% of all taxes
Bottom 50% of income earners pay less than 3% of all taxes (the vast majority pay less than $0 income tax they get cash)
For years politicians have been playing class warfare for their own power. They pit poor against rich and its harmful, dishonest, divisive and destructive. The truth is the poor pay no federal taxes. Anyone one who comments that the so called rich get away with everything on the back of the poor has believed the harmful, dishonest, divisive and destructive politicians. It hold poor people back, they are told the system is not "fair" so don't bother try to get ahead just vote for me and I'll take money from the "rich" and hand it to you. Most of the bottom 50% on income earners not only pay no income taxes they get money back (ie cash payments).
Here are the stats:
Top 1% of income earners pay 40% of all taxes
Top 5% of income earners pay 60% of all taxes
Top 50% of income earners pay more than 97% of all taxes
Bottom 50% of income earners pay less than 3% of all taxes (the vast majority pay less than $0 income tax they get cash)
wow it was sure nice of them to put in that billion dollar data center in NC. all those construction companies were near belly up when that job came in. the more they have is the more they buy here. the more they buy here is the better it is for costs across the board. we have the highest corp tax in the world here in america and we're still broke.
Although the US has one of the highest corporate tax rates, it is in keeping with the rate of other countries of the same economic size as the US -- Japan, Germany, France, Canada, etc. See this CBO report, Figure 2.3 or Figure 2.6. The richer and more complex the economy, the more taxation it requires to maintain the structures that support such a rich ecosystem of successful corporations.
And for those of you complaining about the high tax rate paid by rich individuals, the effective tax rate -- the total amount of taxes paid including social security and sales taxes as a percent of income -- is almost flat in the US, at about 30%. See the first chart here. And if you look at the total taxes paid by income group compared to their share of total income, that rate is pretty flat too.
So whether you look at them as a corporation or an individual, trying to weasel out of a paying their 30% share of taxes is pretty low.
I Love apple Products but....
...Trying to evade paying their taxes is BS! Just goes to show, if ALL the BIG Corporations didn't have so many Loopholes from paying their Taxes, maybe our country wouldn't be in such a huge mess with our debt. PAY YOUR TAXES APPLE LIKE THE REST OF US!!!
...Trying to evade paying their taxes is BS! Just goes to show, if ALL the BIG Corporations didn't have so many Loopholes from paying their Taxes, maybe our country wouldn't be in such a huge mess with our debt. PAY YOUR TAXES APPLE LIKE THE REST OF US!!!
OK, first you must understand that no corporation pays any tax. They merely collect it from the buyer and pass it on. It is only a sham. Any tax that a corporation paid came from an income earner, namely you and me. Hence when politicians play off the evil rich corporations not paying "their" fair share is all is a lie which is exist only because people are ignorant.
Second, the tax would never make it into the economy anyway, it would be blown by those tards running Washington, an entity where more than a third of the proposed budgets by either side is done by borrowing.
Taxing foreign profits is stupid, unless you like the idea of having foreigners being taxed to support your lifestyle.
Every Apple purchase you make here has a portion of the price paid embedded Federal Taxes. This is how our government gets away with essentially taxing us nearly 50% of our income. First they take 20 to to 35% directly through income/fica/medicare then they get the rest through embedded taxes.
Lovely system. It relies on ignorance and that abounds here in the US and unfortunately in these forums. Just reading what others post you can see why this system works so well. The politicians rely on their ignorance and twist it into a us versus the corporations.
So, again, no corporation pays ANY tax. They collect it and pass it on.
Sure, that's why countries like Denmark, Sweden, Norway, and Finland, with very generous welfare states, are toward the bottom of the list. When a Democratic administration says that corporate tax rates need to come down, that's a pretty good indication that perhaps our rates are too high.
At the end of the day, the corporate income tax is very inefficient. It doesn't bring in much revenue, and higher rates tend to scare away capital. On top of that, it is very complex and expensive to comply with. The opportunity costs of compliance are even more staggering. All those tax accountants (just for sheer compliance, before we even consider tax deferral or avoidance) could do more good doing something else if we had a simpler, lower tax system.
Another point is that it is not just the rate, it's also the base. The US is one of the few countries to attempt to tax worldwide income both at the corporate and individual levels. A UK citizen living in Bermuda pays no UK income tax. An American living in Bermuda pays US income tax. For corporations, taxation of extraterritorial income is a bit more common, but so are tax planning strategies like transfer pricing (to shift expenses to high tax areas and income to low tax areas).
Yes. Corporate taxes are a useful way of hiding the taxes that are really paid by all of us. People think we're making the rich pay their "fair" share, while not noticing that it's all being passed back onto us. If we all saw how much we are really taxed, we would start paying more attention to how those taxes are spent, and maybe start thinking we could do better ourselves.
They don't have to build a factory to invest in the US economy. Their stores are hugely successful, employ many thousands and of course generate enormous tax revenue for the cities and states they reside in, both through their sales, and through their employee salaries.
This is why we need to blow up the current tax system and go with a consumption, or fair tax. No IRS, no Income tax, No Corporate tax. Just a 23% consumption tax.
http://www.fairtax.org
http://www.fairtax.org