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

[Amazing Iceman]

To those who argue that Apple should just pay "honestly" and not do just what is legal but what is right. That would put Apple at a disadvantage to all other companies. In order to get companies to pay more they all must pay more.

If they make the Oil Companies pay more taxes, that would be an excuse to increase the price of gas, and we all will have to suffer the consequences.

It's a very complicated matter, like a huge spiderweb, you'll get stuck to it while trying to free someone else.

Apparently they have nothing to do, so they are going for the most vulnerable. The government doesn't care if we have to pay more for our iPads in the future due to a tax increase to Apple.

 

[SeattleMoose]

Wallstreet wants part of Apples cash stash. And they have told their bought and paid for "legislative assassins" to "sick em". Problem is, everyone can see right through this. Apple's only sin is doing what every other big company (and one per center) is doing LEGALLY, minimizing their taxes.

This is a smear tactic...plain and simple.

 

[Mr.damien]

Here is the problem, if Apple doesn't do these legal things, the stock holders will jump all over them. They answer to the stock holders.

nobody were jumpinb around when SJ gave nothing to shareholders...
It's always the good excuses the shareholders can justify everything.

If they are that bad, then we should create laws against them right ?

 

[samcraig]

Wallstreet wants part of Apples cash stash. And they have told their bought and paid for "legislative assassins" to "sick em". Problem is, everyone can see right through this. Apple's only sin is doing what every other big company (and one per center) is doing LEGALLY, minimizing their taxes.

This is a smear tactic...plain and simple.

If other companies do this - and the tax loopholes are closed - then it's not just affecting Apple, now is it?

 

[paul4339]

Ok, so Apple isn't doing anything illegal. Neither is the government. Just sayin', since it's such a focus on legal and illegal here! How about letting some ****ing moral lead the way instead. Why do everyone have to be an ass in this world, as long as the law allows it?

Ok, but maybe the law should reflect their morals better.

Is it moral to tax a company's international revenues the same as domestic? if you think so, then close the legal loopholes. If you think not, then lower corporate taxes.

But to have both and just blaming some of the companies doesn't make sense.

.

 

[Mr.damien]

Oh I didn't fake to see what the point is. I get your point. I just couldn't believe that someone would actually compare those two things. Maybe you should open your eyes to some of the tragedies that happen in this world and realize that comparisons to such horrible things shouldn't be made so lightly.

Well, it all depends where you put your eyes. Tax avoidance is as violent as war.

Missing money will impact health system, education, counter terrorism, war effort... etc..

But yeah, seems to be fined nowadays to just be blind to money "violence" because it doesn't kill people in front of you on the TV.

 

[bassfingers]

They should simplify the tax code, make these practices illegal, and then be done with this nonsense.

This comes across to me like the fat kid in dodgeball saying "hey guys, no fair, stop playing so hard, it's no fun for me"

 

[budselectjr]

They should simplify the tax code, make these practices illegal, and then be done with this nonsense.

that would be too logical.

 

[guzhogi]

As I've said, I think AMerica should really redo it's tax code as well as the services it provides. Get rid of all programs except for military and infrastructure. Maybe eliminate all income tax, make a national sales tax. Have sales tax go to something that relates to what was bought. Like gas and cars goes to better roads and research of better gas mileage cars. Maybe legalize marijuana and put the sales tax to medical care/research and education. Textbook taxes go to schools. Internet service go to better network infrastructure. Stuff like that.

Instead of eliminating income tax instantly, maybe set a flat income tax, maybe 15-20% for everyone & everything (individuals, companies, capital gains, etc.). Have that to pay down the deficit while slowly dropping the percentage so that both drop to 0 at the same time.

Another thing that needs to happen is people stop looking at the bottom line. Sure, take what you need, plus a little more to have a little fun, but start focusing more on improving yourself and others.

 

[JPark]

Excellent question: Would it be better for America if Apple payed higher taxes to foreign countries?

 

[winston1236]

Screw. The. Feds.

Why do they even bother with these shows. Its a fact that rich people own the US government and decide everything. The rest of us are are just cogs in the machine.

 

[gnasher729]

Yes. Apple is being made an example of.

Right now, there is a hearing. Cook and Oppenheimer haven't spoken yet, and I think they will hold their ground in this hearing. In the end, Levin and McCain don't set the taxes that Apple has to pay.

 

[QCassidy352]

Outrageous. They are operating within the laws as they exist. If that's not good enough, you know who has the power to rewrite the laws?

 

[spazzcat]

nobody were jumpinb around when SJ gave nothing to shareholders...
It's always the good excuses the shareholders can justify everything.

If they are that bad, then we should create laws against them right ?

Shareholders were very happy with the money they were making off the stock.

 

[audioteknika]

No wonder this country is going down the drain with all these tax evasion.
'MURICA ! See you in 30 years when you won't be the center of the universe anymore.

 

[samcraig]

Right now, there is a hearing. Cook and Oppenheimer haven't spoken yet, and I think they will hold their ground in this hearing. In the end, Levin and McCain don't set the taxes that Apple has to pay.

I never said otherwise?

 

[Big Dave]

What the government doesn't understand is that Apple doesn't have to be a US company. They can become an Irish company and import products into the US.

 

[Luis Ortega]

Freeloaders? Apple contributes more to the American economy than you would in 1000 lifetimes.

Yeah, and how's that? By outsourcing the manufacturing to sweat shops in China?
By not paying taxes?
By overcharging for their products?
I could also make out like a bandit if I didn't pay taxes, but I wouldn't have the temerity to claim that I was helping the country's economy.

 

[3282868]

McCain: American companies cannot continue avoiding paying taxes. "Our military can not afford it, our economy can not endure it, and the American people will not tolerate it." Our tax system is broken but that is not an excuse.

This is what irks me. Our military spending is out of control, and has increased considerably.

The USA with its massive spending budget, is the principal determinant of the current world trend, and its military expenditure now accounts for just under half of the world total, at 41% of the world total.

source: http://www.globalissues.org/article/75/world-military-spending

U.S. military spending – Dept. of Defense plus nuclear weapons (in $billions) – is equal to the military spending of the next 15 countries combined.

These numbers show military expenditures for each country. Some say that U.S. military spending will naturally be higher because it has the highest Gross Domestic Product (GDP) of any country. The United States accounts for 47 percent of the world’s total military spending, however the U.S.’s share of the world's GDP is about 21 percent. Also note that of the top 15 countries shown, at least 12 are considered allies of the U.S. The U.S. outspends Iran and North Korea by a ratio of 72 to one.

source: http://www.warresisters.org/pages/piechart.htm

General consensus demonstrates that almost half of our tax dollars is distributed to our military, while the rest is heavily divided amongst human resources and general government. How about reigning in our military spending and tactics, and focusing those funds to improve are abysmal education system and healthcare? Instead of targeting Apple, let's turn those fingers around, Senator.

 

[samcraig]

What the government doesn't understand is that Apple doesn't have to be a US company. They can become an Irish company and import products into the US.

Do you have any idea what that would now involve for them?

 

[spazzcat]

I don't know. Perhaps because Apple is the most aggressive and largest company (as noted by both professors) that they were brought in?

And do you call Apple a tax EVADER? I believe ALL the companies you mention operate within the laws. That means they all take full advantage of tax loopholes.

So again - I defer to my earlier statement. This conversation needs to happen. And if Apple is the best example - it's unfortunate... but I, for one, am glad the conversation is happening.

Some people are objecting to this hearing because they believe since Apple hasn't done anything wrong - this is a witch hunt or that the government is getting greedy. Well - under current tax laws - no - they haven't.

But that doesn't mean the law shouldn't change. And the only way it will change is if it's discussed.

And who really knows. Maybe this is one of several hearings that will take place. Maybe Google and other companies will be in the hot seat then.

There's a finite amount of time for hearings.

There should be a lot more companies there, not just Apple. They are clearly singling them out for doing what all large companies are doing.

 

[cmChimera]

I don't know. Perhaps because Apple is the most aggressive and largest company (as noted by both professors) that they were brought in?

And do you call Apple a tax EVADER? I believe ALL the companies you mention operate within the laws. That means they all take full advantage of tax loopholes.

So again - I defer to my earlier statement. This conversation needs to happen. And if Apple is the best example - it's unfortunate... but I, for one, am glad the conversation is happening.

Some people are objecting to this hearing because they believe since Apple hasn't done anything wrong - this is a witch hunt or that the government is getting greedy. Well - under current tax laws - no - they haven't.

But that doesn't mean the law shouldn't change. And the only way it will change is if it's discussed.

And who really knows. Maybe this is one of several hearings that will take place. Maybe Google and other companies will be in the hot seat then.

There's a finite amount of time for hearings.

I haven't read the whole thread, so forgive if I'm missing your point. I agree that if there is a problem with the law, that it should be changed. But why is Apple being made out to be a problem? I hate to agree with Rand Paul, but if there is a problem isn't Congress the one responsible for finding a solution?

 

[IJ Reilly]

I think the tax code should really be redone. No reason Apple should pay income taxes in the country where it made the income and then again to bring it to the US. Only time Apple should pay taxes again is for sales tax. Heck, maybe take away income tax all together and just do sales tax. I'm no economist so I don't know how that'll work, but it might be worth looking into it.

They are not double taxed. They get full credit for foreign taxes paid, if and when they actually pay any. The issue is they avoid paying foreign taxes, too, by running offshore earnings through the tax haven in Ireland. You'd think the EU would be all over that, but I haven't heard of it.

FWIW, Apple doesn't pay sales taxes. No retailer does. They collect it from consumers and pass it through to the states. What you are talking about essentially is a VAT. If a VAT was designed to take the place of income taxes, the burden of taxes would shift heavily towards lower income earners.

 

[samcraig]

I haven't read the whole thread, so forgive if I'm missing your point. I agree that if there is a problem with the law, that it should be changed. But why is Apple being made out to be a problem? I hate to agree with Rand Paul, but if there is a problem isn't Congress the one responsible for finding a solution?

That's what hearings are for... so that there is a conversation about a given subject.

 

[Millah]

Politicians: "Capitalism is the ONLY answer! We are America, the greatest country in the world, capitalism capitalism capitalism! We need less regulation! Smaller govt!"

And then when international corporations, who are a great American success story, utilize the capitalism put in place by these politicians.....


"BAD! PAY MORE TAXES! WE NEED REGULATIONS!"

What happened to that great free market they're always preaching about on TV?
Oh god, politicians crack me up. And we wonder why we have no bright, insightful minds in D.C. Maybe because the game of politics have become so pathetic and downright shameless, that no bright person would want to be part of this game of shameless power hungry whores. Politicians are all the same. The bright minds of today are working in these international companies like Apple and Google, helping to shape the future. They're not wasting their time bickering with bozos in politics, its a hopeless cause these days. Too many clowns in govt to try and actually affect real change.