You do realise a single payer system would solve most of those issues.
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Apple Reportedly Shifted Billions of Dollars to Small Island of Jersey Amid Tax Crackdown [Updated]
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Umm well yes we can blame them, it's unethical and Tim Cook is "Pro-America" yet pulls this type of swindling.
Talk about greed and corruption and disrespect to the customers that allow their company to even exist.
I’m happy for you, keep making the world great. In life you reap what you sow.
Yeah until YOU are forced to pay more taxes. Then will see what you have to say then.
James
Every time I see Apple up to something like it makes me less inclined to upgrade my 2011 MBP to something newer. Buying a new one is now almost completely out of the question so if my current machine croaks, it's going to be replaced by a second hand machine.
Seriously thou, it seems to me that Tim Cook really is just another John Sculley and Steve Jobs did after all say that hiring him was one of the biggest mistakes he's ever made. What I mean by that is that he's someone who will manage Apple as it's taken to record profitability, while at the same time pretty thoroughly destroying anything special about the company. Having spoken to someone who used to work at Apple both when Jobs was alive and after Cook took over I know that Cook has pretty much ended the team rivalry that drove the teams behind products like the original iPhone and iPad. At this point you could easily make the argument that the only real difference between Apple and a run-of-the-mill tech company like IBM, Dell or HP is that Apple makes fewer new products, but spends more effort on each of them.
But hey, at least there's once again some spotlight being shone on the problems in international trade and tax regulations. Now that we have an even clearer and publicly understood idea of what's wrong, we're closer to a fixing these issues, even if the fixes are still a long while away and going to be subject to a lot of lobbying from companies like Apple.
Seriously thou, it seems to me that Tim Cook really is just another John Sculley and Steve Jobs did after all say that hiring him was one of the biggest mistakes he's ever made. What I mean by that is that he's someone who will manage Apple as it's taken to record profitability, while at the same time pretty thoroughly destroying anything special about the company. Having spoken to someone who used to work at Apple both when Jobs was alive and after Cook took over I know that Cook has pretty much ended the team rivalry that drove the teams behind products like the original iPhone and iPad. At this point you could easily make the argument that the only real difference between Apple and a run-of-the-mill tech company like IBM, Dell or HP is that Apple makes fewer new products, but spends more effort on each of them.
But hey, at least there's once again some spotlight being shone on the problems in international trade and tax regulations. Now that we have an even clearer and publicly understood idea of what's wrong, we're closer to a fixing these issues, even if the fixes are still a long while away and going to be subject to a lot of lobbying from companies like Apple.
I totally agree with you.There will come a point when the public is no longer willing to put up with this behavior. Just look at our past (no need to go any further back than two to three-hundred years) and how violent the public/the rest of society has gotten when we've had the deck stacked against us and were backed into a corner.
It's all fun and games until the public revolts drops the guillotine on the overlords...
All that talk about leaving the world a better place than you found it. I hope the EU makes them pay every last euro of that Irish tax bill.
Why on earth should you, or anybody else for that matter, be able to avoid paying income tax? Your post makes you sound proud about it! Yet if everyone acted in this manner there should be no services any more. No roads. No schools. No healthcare. No rubbish collection. No police service. No fire service. Literally none of the infrastructure that we can so easily take for granted.
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Ok, so I love my Apple products and will continue to love them. BUT I will state pressure from consumers and other companies will change Apple’s behavior. There isn’t an incentive big enough currently to drive change. Although we see uncle Apple being like a friendly and smart company we have to remind ourselves that they are a mindless faceless corporation that is driven by profits first and other things last. So to create change at Apple this just needs to be brought up again and again until they change or we change how we see it.
How much does your accounting/law firm bill you for this service? Why not just cough up like the rest of us rather than thinking you should somehow be treated differently? If everyone paid taxes in the spirit of the law there could be far better public services, a more egalitarian society, and most likely lower tax bills for *everyone*
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I agree. I pay my taxes knowing that it’s creating services and infrastructure we need to operate as a civilization. I think not paying your fair share should result in audits and extreme pressure to pay fair share. Even jail time. If this person is getting away tax free each year they either earn so little and have so many kids they don’t have a tax, they do some behavior that gov deems them tax free, or they are cheating and should be prusued (which they will be eventually and then audits of years of taxes - fun!).
VAT does not explain the pricing in the UK. In the US Apple pays corporation tax which is much higher than in the UK. That tax is paid on US profits and is not a state sales tax, and it is about 35% of the profit (mind you, perhaps Apple is dodging 'making a profit' in the US as well so its effective tax rate might be much lower). Outside of the US Apple is paying less than 5% effective tax through the 'arrangement' between Ireland and Jersey. Also, Apple employees in the UK have the NHS, so Apple does not have to pay for health care insurance here. All in all, I no longer buy the VAT argument and at some point it looks like Apple is willing to exploit any ambiguity to inflate its profits at the expense of the consumer.
I remember how revolutionary the Mac was (and it was revolutionary, even compared to the Lisa, and certainly compared to DOS systems). It seemed to me that most products Apple released enabled me to do something new with computing and information technology. Thus, I was willing to pay the price for those capabilities. But now Apple wants to have the same premium prices, avoid paying a reasonable and fair share of taxes, justified by 'innovations' like being able to create an animoji poop of oneself. I loath Android, so I might be forced to buy another iPhone once my 4S finally gives up the ghost. However, my plans to buy other Apple products (tablet, laptop, Apple TV, the new speaker system, wireless earbuds etc.) are now on hold. I wish there was a viable alternative to Apple, Microsoft, and Google, which I now consider equally pedestrian and exploitive of the consumer.
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No. We should be finding equitable (at least equality of opportunity, rather than a caste system) and sustainable ways of supporting our society. The rich have been getting richer by gaming the system and by bribing politicians to allow them to have loopholes. Meanwhile, everybody else has seen their quality of life, and that of their loved ones, decline. This week sees the 100th anniversary of the 'success' of the Russian revolution, which in the end killed millions of people, initiated a class war and threatened to destroy the world. It might be worthwhile for the people who are rich and powerful now to contemplate what happens when the divide between them and the vast majority of people becomes too large.
Right now things are manageable because we're in the top of the economic cycle (or is it another fraud-driven bubble?). There is very little ammunition left for central banks and government to fight the next recession/depression, which will come inevitably as night follows day. The upheaval that started in 2007 and resulted in riots in the UK, Trump, Brexit, and independence movements in Europe isn't over.
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I'd like to see how many hip-replacements, cataract surgeries, prosthetic limbs for soldiers who have been wounded in battle, teachers, new homes in areas hit by tropical storms, etc. could be supported with a fair tax on the money Apple is hoarding (which does little productive in the economy while it's squirrelled away).
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http://www.bbc.co.uk/news/live/worl... tax'&&ns_fee=0#post_5a01821be4b0cd5ea8fd9b1e
Oxfam says that large corporations typically invest in government lobbying, because of the potential returns in tax breaks - a practice that the UK has the power to stop.
"Corporations such as Apple, Nike and Glencore spend millions lobbying governments to water down tax reforms," said Rebecca Gowland, Oxfam's Head of Inequality.
"The 50 biggest US companies, including Apple, spent an estimated $352m (£268m) lobbying on tax issues in the country between 2009 and 2015 while receiving more than $423bn in tax breaks.
"For every $1 they spent lobbying on tax issues they received an estimated $1200 in tax breaks."
Oxfam says that large corporations typically invest in government lobbying, because of the potential returns in tax breaks - a practice that the UK has the power to stop.
"Corporations such as Apple, Nike and Glencore spend millions lobbying governments to water down tax reforms," said Rebecca Gowland, Oxfam's Head of Inequality.
"The 50 biggest US companies, including Apple, spent an estimated $352m (£268m) lobbying on tax issues in the country between 2009 and 2015 while receiving more than $423bn in tax breaks.
"For every $1 they spent lobbying on tax issues they received an estimated $1200 in tax breaks."
Time to vote out the incumbents (it is at times like this I wish I were a UK citizen rather than just a tax-paying permanent resident).
This is exactly the problem I have with the tax system now. I would LOVE to see taxes reduced for pretty much everyone and of course for the Govt to stop pissing money away on crap. But until that happens, I would much rather see gajilion dollar companies and uber-wealthy individuals paying more because when they pay less I get stuck with the bill. Eff that. Their lifestyle isnt impacted at all with a higher or even proper tax rate. Not at all. What...one less helicopter or mansion? Too damned bad. They'll live, lol. Its the fact that they can *conveniently* skirt what they should pay that drives me and most other W2 worker bees crazy. Gee I wonder who wrote the tax laws? Ya think maybe some rich guy? Duh?
I couldnt care LESS about grumpy-ass shareholders or how they feel. They are of no concern to me whatsoever and should get taken care of LAST. I have investments too but Im fine with a slightly lower return if it means companies I invest in pay the right amount in taxes. Why? Because when they dont pay enough I pay more. That hits me harder than a few % less retrun on 401K or stock investments. Income taxes and property taxes come right out of my spending money per se. get off my wallet and go get some from Apple.
I wouldn't mind the tax dodge if these companies didn't use municipal resources like roads, police, and fire dept. But, they do use these things (and others) and we, the taxpayers, are flipping the bill for them. That's when the tax dodging becomes a problem.
A little off topic: honest question: some people want a larger military, yet at the same time want lower taxes. I'm by no stretch of the imagination an economist, so can someone explain to me how we'll do both at the same time? I can see cutting a lot of departments/services (Medicare/Medicaid, food stamps, Department of Education, etc.) and lower taxes incentivizing more investments. However, I don't see the cuts making up for the increase in military spending.
Also, as far as taxes, I don't mind paying taxes as long as they go to worthy causes (education, healthcare, infrastructure building & maintenance). I'd like to have more control where my money goes.
Also, as far as taxes, I don't mind paying taxes as long as they go to worthy causes (education, healthcare, infrastructure building & maintenance). I'd like to have more control where my money goes.
I kind of object to this post being moved to the Politics, Religion and Social Issues section. This is a strictly BUSINESS decision.
If my post did not convey that I like the single payer system, and would like to eliminate the pimps/middlemen/insurance companies, I guess I should emphasize it better, like repeating it here.
OUR elected pimps will not allow it to come into existence in the manner it should exist.
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I think if you want to be more specific this is an ethics issue. Or lack off for that matter.
I agree. We have a government which takes in more money from taxes than ever before, and yet, is still on track to spend more than it can tax by a large amount for the Nth year in a row. We have a government with unfunded obligations, particularly in the forms of Social Security and Medicare, which, over the next couple of decades will dwarf all income they can tax. Then you get into the near constant high military spending, the growing annual debt payments, if we can ever pay off the debt, etc.
The solution seems to be for government to do a whole lot less, promise a lot less, tax a whole lot less (the more it taxes the more it spends), and let the market figure out solutions to retirement and insurance. A government which regulates and rarely legislates. 100 years ago the government taxed far less and did far less, yet people got by and the country grew, the economy managed itself, and the debt was almost nothing.
The way to break loopholes is for everyone to start using them. It's awful that we don't have a better way and not everyone can use them.
Everyone who has seen a decline to requiring government assistance now has to cave to the demands of the political class, lest they lose their lifelines.
The rich have their bunkers in NZ and elsewhere. The political class has its armed guards and special privileges / prioritization in the event of a breakdown. I think a lot of them would love to see a "reset" to consolidate power, but that's another topic.
Maybe it is fraud-driven; I know it isn't genuine. A stock market which only goes up is not a real market. A real estate market which bounces back to all-time highs within 10 years and keeps going is probably not a genuine recovery. Endless "quantitative easing" (money printing) and interest rate manipulation along the way to prod more unsustainable spending and borrowing. Average wages which remain flat for decades means everyone is paying the inflation tax. Those below the few% aren't feeling any recovery.
The worst thing about 2007/2008 was the bailouts and the lack of prosecution. As much as I make fun of the "it's wasn't real communism" idiots, we really don't have real capitalism if there are no consequences to failure no matter who is failing: it's crony capitalism, corruption, etc.
Central banks will go negative on interest rates if it gets bad enough. Governments will do the only thing they know and kick the can. I don't know how people are expected to get by. I guess they'll find new ways to divide us and distract us while saying our children will pay for it.
So, taking your indignation as a guide, is it safe to assume that you don't look for deductions, deferments, or shelters? Can I also assume that you include a bonus amount? Or do you do as I do and pay what the law says you owe? If that's $0.00 then that's what I pay. Am I Proud? No. Smart, yes.
I'd bet dollars to doughnuts that you try your best to pay the least tax you can. If everyone did it, as you say, then the laws would be changed—and quickly!—so no loss of services, etc.