Sidebar Sidebar
Become a MacRumors Supporter for $50/year with no ads, ability to filter front page stories, and private forums.

Apple CEO Tim Cook and CFO Peter Oppenheimer Testify In Front of Senate Committee on Tax Strategies [Hearing Over]

spacehog371 said:
What tax advantage do they have? They pay the same taxes here as any other company that isn't multinational. What does it matter to domestic companies what taxes they are paying overseas? It isn't like Apple didn't pay taxes for the overseas profits... they did, they paid all of the taxes in the country that they sold the product in.

They are not shifting profits from the U.S. into overseas companies to lower taxes... that would put domestic companies at a disadvantage, but that is not happening.
Click to expand...

Isn't that part of the issue, they actually didn't pay taxes on part of their income that was shifted to one subsidiary.

They were/are shifting profits from overseas into another overseas subsidiary that didn't pay taxes at all.

As to the legality of it all, well i think part of this hearing is to make the senate realize they need to make changed to the tax laws to reduce loopholes.
 
sseaton1971 said:
Funny, then, that one of our founding fathers (i.e. Warlock Ben) was so interested in electricity! ;)

I am not a fan of Bush, but you do know that he hasn't been president for over four years, right? How long before the problems we are facing now are due to someone else's policies?
Click to expand...

Ha! True regarding the Electricity.

Bush left office leaving 2 wars not paid for and lowered taxes.. what do you think was going to happen.

I've been watching this and it's clearly was never to attack apple - just was like apple was invited along to help push through tax reform.
 
sseaton1971 said:
So, "most liberals" must be vegetarians, I guess. They would never purchase meat that comes from animals that were confined and then slaughtered to be sold on the market.

And "most liberals" must be wealthy, because going on holiday and purchasing "advance and efficient vehicles" is expensive.

Oh, and "most liberals" must live near the ocean and not in rural areas, because they wouldn't be able to go to the beach and use "highly efficient mass transit" systems.

Thank you for helping me understand "most liberals". :confused:
Click to expand...

For starters, I am not the one who defines everything or anyone different as "liberal". Of course, it used to be commies, then socialist but now plain old liberals; probably easier for the base to spell this word. Unfortunately, you cannot use either of those two terms, considering both types of nations now have vasts amount of wealth to their name today. China has about $2.2 Trillion USD in cash.

Of course, an overwhelming number of conservatives I know of think, eat, drive, their hobbies, like the same music, similar hates and scapegoats etc etc are the exact same as one another, but that is a whole other story.

For myself, I only buy grass feed humanely raised meat. 1 house in most liberal cities or advanced Big Gov nations today buys 4 to 6 homes in most red states throughout America, so you could say we are indeed wealthier.

It also doesn't help that low taxing "job creating" red states are ranked dead last for wealth, income, and home prices; with most of them not having a single globally renowned city and a GDP that is actually less than the market cap of Apple.
 
samcraig said:
I admit I'm no accountant. But my concern overall (not with Apple) is that companies can claim a deduction on taxes made overseas.

I know US citizens can claim deductions in their residency state if they work in another (and pay taxes in that state). But why (if it is indeed the case) are companies given deductions for foreign sales if the US isn't seeing any of the income at all?
Click to expand...

They _would_ get deductions for tax paid outside the USA _if_ they moved the money into the USA. They _don't_ get deductions if the money stays outside.
 
Carl Levin is such a blowhard. What the hell did he ever do to improve people's lives.
 
samcraig said:
I admit I'm no accountant. But my concern overall (not with Apple) is that companies can claim a deduction on taxes made overseas.

I know US citizens can claim deductions in their residency state if they work in another (and pay taxes in that state). But why (if it is indeed the case) are companies given deductions for foreign sales if the US isn't seeing any of the income at all?
Click to expand...

I am an accountant. This is an addendum to my other reply. See here if you like:
http://www.irs.gov/Businesses/Foreign-Tax-Credit-1

Honestly, there's no reason to ever take a deduction over a credit, I don't know why it's even an option. Perhaps that was an older law and it changed one day, IDK. Regardless, both are only available to the amount of paid tax, it is not a revenue-based amount.
 
Last edited:
Levin is filibustering and not allowing Cook and Oppenheimer to respond. Arsehole.
 
prowlmedia said:
Ha! True regarding the Electricity.

Bush left office leaving 2 wars not paid for and lowered taxes.. what do you think was going to happen.
Click to expand...

The current administration has done little to end our military presence overseas. I would love to bring all of our troops home. It would save lives and money.

As I said before, I am not a fan of Bush, but I am thankful my taxes were lowered.

prowlmedia said:
I've been watching this and it's clearly was never to attack apple - just was like apple was invited along to help push through tax reform.
Click to expand...

Senator Levin's pre-hearing statement sure seemed to portray Apple as a scheming, unethical, immoral, tax-avoiding corporation:

http://www.levin.senate.gov/newsroo...ofit-shifting-and-tax-avoidance-by-apple-inc-
 
The better question is: why is the most prosperous American corporation of the modern age sitting here when it pays the most taxes per capita per hour than any other corporation?

This is a witch-hunt, plain and simple. Where are the subcommittees for Wall Street?
 
Only this Congress would think that paying 6 billion dollars in taxes isn't enough.
 
Rogifan said:
Levin is filibustering and not allowing Cook and Oppenheimer to respond. Arsehole.
Click to expand...

The camera pulled out wide and Levin was the only one left interested in dragging this out any further. It's really a mindfoock to me that this guy makes me feel like a little like a Republican :( embarrassing
 
You must log in or register to reply here.
Register on MacRumors! This sidebar will go away, and you'll see fewer ads.
Top Bottom
Back