"[It's called] a republic, if [we] can keep it."
-- Benjamin Franklin
I wish people would stop saying this. A republic is a nation where the people are sovereign; that is, government is in the name of the people. It may or may not also be a democracy. They are not exclusive. The Benjamin Franklin quote specifically contrasts a republic to a monarchy; in a monarchy, the king/queen is sovereign.
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It is money earned and spent by citizens of other countries. It wasn't US money that was shipped overseas and then the US wants it back again. Just because Apple is a US companies shouldn't entitle them to bring every dollar from around the world back to US soil where the US government would benefit from that. Am I totally wrong about this? If I do business in Japan, why would Canada be entitled to tax money? What is Canada doing for my business in Japan? Nothing.
Often not. For example, here's a common tax dodge: 1. Invent something in the USA 2. "Sell" the patent to an offshore subsidiary (transfer patent rights) for $1 2. Have the USA subsidiary license the right to use the patent from the offshore subsidiary for millions of dollars in "royalties". These show up as expenses in the US, cutting taxable income there, while boosting income in the offshore sub. Yet no actual tangible business was done in the overseas sub-- it's an accounting fiction.
If it were money actually earned overseas, that's another matter. But the products are more likely than not sold in places with high corporate taxes (although not as high as the nominal US rate, which is something of a joke at this point). Yet Apple reports a good chunk of its earnings out of Ireland, a nation with just over $3M people I believe.