What's fair works for children when you are dividing up candy. When you grow up you do what is legally required. Anything more than that would be charity and apple isn't a non profit.
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Nobel-Winning Economist Calls Apple's Irish Tax Arrangement 'Fraud'
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What's fair works for children when you are dividing up candy. When you grow up you do what is legally required. Anything more than that would be charity and apple isn't a non profit.
The courts say it's fraud, economists say it's fraud, but some people that buy a few Apple trinkets say it's not. Wonder who's correct.
This is more meaningless SJW feel-good mumbo-jumbo. The law defines what Apple's fair share is. They've paid what they owe under the law, ergo they've paid their fair share. If you think that share is not "fair" enough, change the law.
Nope.
Just no.
No no no no no no no no no.
This is more how repatriation of profits works and what we're talking about-
Apple: hey, we pay 35% on profits we make here & get to keep the other 65%, yeah?
Government: yup
Apple: and you want us to spend $ in this country on data centers & facilities and staff and so on, yeah?
Government: yup
Apple: here's the issue though... we sell a LOT of products & make a LOT of $ elsewhere.... we already paid 35% on the profit made to those governments; are you saying that if we want to bring that money here, pay Americans with it, build facilities, create jobs, etc. you'll tax us on it AGAIN, as if it was profit made here... so now we've given away 70% of what we made to two separate governments & only get to keep 30% of it to spend here??
Government: yup
Apple: yeah, we're cool on all that- I guess we'll just leave it over there & hire people there & build infrastructures there
Government: *wah* you're being unpatriotic
Get it?
They just don't want to be double taxed. It has NOTHING to do with asking for a slight break on profits made here this year, then more next year, etc. like you're saying. It's not even about profits made here at all. It's simply about American government greed on wanting to tax money NOT made here, that has already been taxed, thus forcing companies to take their business/jobs elsewhere.
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Well according to this article a decision isn't expected until later this year.
Like I originally stated. The courts say it's fraud, hence the reason they launched the investigation. If they didn't think there was any fraud, would they have launched an investigation?
The content of this post has been removed by the moderator due to the constant use of foul language and continual references to grossly indecent acts.
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Nobel prizes are like Knighthoods in the UK. We just give them to pretty much anybody and this guy thinks he is something special now because of it. The fact is nothing Apple has done is illegal and is not classed as fraud. As a Nobel winning economist he really should understand that. Apple have operated within the law to make their finances and tax payments work for them. We would all do it if we could. Like others said the only answer to bring the full amount of Apple profits back to the US is to lower corporation tax.
Because its giving it back to the system that made you who you are!
US corporate tax is the price of the greatest capitalism market setup in the world. Amount of taxes doesn't make the company make it or break it, its the resource of educated people in all spheres that are available in US right now that makes it an engineering capital of the world. And all of that is tied into social system and so on.
Apple would not be a fraction of what it is today if it was located in Ireland even if Ireland was giving them money like $10,000 per job seat.
US should not lower their corporate taxes at all. US should just be a lot more transparent where that money from taxing goes and make sure there are fewer leeches who live off those taxes.
By the way Apple is by far the biggest tax payer in America, and pays tax at a significantly higher rate (about 20% effective tax rate) than most companies, or indeed individuals, in America! Apple is only a target because it's so big. Some people think that if you need firewood, you should cut down the biggest tree in the forest, because then you only need make one cut. This is shortsighted.
Furthermore, the USA is the only country in the Western world to insist on a double taxation system. That is they want to collect tax on items built, bought and sold - and already taxed - by foreign nationals in foreign countries. Just like Britain tried to collect taxes on Americans over 200 years ago. Most reasonable people think this is unfair, unethical and in any case impractical. Which is why Apple and most other US companies with foreign operations are parking profits earned abroad in the jurisdiction they were earned in - in the hope that the next government will change tax policy and allow repatriation of earnings to the US at a lower rate - as has been done before.
This is not fraud. It's eminently sensible and actually must be done by law or Apple will be failing in its obligations to its shareholders (you and me) - yes you too, many investing municipalities, governments and pension funds around the world hold Apple shares or bonds. Trying to wring more taxes out of Apple is just increasing taxes on the people who actually own Apple - the every day people of America and to some extent other countries.
Communists like Stiglitz always want all profits to return to Federal government, where his paymasters will be in power and where they get to spend it on what they like, starting with themselves. But raiding private enterprise has proved disastrous for all countries that have tried it - the Soviet Union, Zimbabwe, Argentina, Bolivia, Cuba, Greece - all friends of Stiglitz yet most have difficulty maintaining adequate stocks of toilet paper let alone creating amazing tech companies like Apple.
Furthermore, the USA is the only country in the Western world to insist on a double taxation system. That is they want to collect tax on items built, bought and sold - and already taxed - by foreign nationals in foreign countries. Just like Britain tried to collect taxes on Americans over 200 years ago. Most reasonable people think this is unfair, unethical and in any case impractical. Which is why Apple and most other US companies with foreign operations are parking profits earned abroad in the jurisdiction they were earned in - in the hope that the next government will change tax policy and allow repatriation of earnings to the US at a lower rate - as has been done before.
This is not fraud. It's eminently sensible and actually must be done by law or Apple will be failing in its obligations to its shareholders (you and me) - yes you too, many investing municipalities, governments and pension funds around the world hold Apple shares or bonds. Trying to wring more taxes out of Apple is just increasing taxes on the people who actually own Apple - the every day people of America and to some extent other countries.
Communists like Stiglitz always want all profits to return to Federal government, where his paymasters will be in power and where they get to spend it on what they like, starting with themselves. But raiding private enterprise has proved disastrous for all countries that have tried it - the Soviet Union, Zimbabwe, Argentina, Bolivia, Cuba, Greece - all friends of Stiglitz yet most have difficulty maintaining adequate stocks of toilet paper let alone creating amazing tech companies like Apple.
It's called a penalty for trying to play the system and acting like a smartass.
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You mean like Germany, the closest to communist country as you can get in the world today where all the big business from car industry, consumer products, communications services to freakin DHL are state owned and operated. Yes your favorite T-Mobile is owned and operated by German government or your favorite BMW.
Communism has nothing to do with this really nor second favorite term socialism. Its very simple, Apple might be the biggest tax payer in US by numbers but they still are not paying what they supposed to be paying end of story. Double taxation? Well you wouldn't be double taxed if you didn't take the money out of country trying to save money, end of story.
And do you know why it's a fraud? Its a fraud to all designers, engineers and every other Apple employee in US that doesn't see the money getting back to their community, their social system and their market. Good luck to Apple finding these talented people in Ireland or Lichtenstein to continue iPhone development.
BMW owned by the german state??
Nice idea, but totally false.
The federal state of LowerSaxoni does indeed hold a privilegded stake in VW but thats about in the car industry.
DHL and DeutscheTelekom are leftovers from our national postal sevice and have been gradually privatized over the past 20 years.
Nice idea, but totally false.
The federal state of LowerSaxoni does indeed hold a privilegded stake in VW but thats about in the car industry.
DHL and DeutscheTelekom are leftovers from our national postal sevice and have been gradually privatized over the past 20 years.
If tax rates anything above 10% (Corporate or Individual) then buckets must be provided for the individuals/corporate to pay taxes anything above 10% mark...They can create educational spending, health-care spending, infrastructure spending, defense spending, specific buckets and allow them to fund any of these buckets with clearly laid out plans and outcomes. If outcomes and plans do not match for 2 consecutive years, then next two years, taxpayers shall get the allowance for the paid tax amount until the plan and outcome match. An independent regulatory body must be given complete authority to review the status and progress of utilizing the tax funds.
I don't want to enter in a Trump discussion, but it is really sad to see a century-old institution covered in mud because of some spoiled brat mr. knowitall feeling offended
It does fit in with the make the world a better place message.
How you might ask. Because Apple feels they can do better with their money than governments.
What is the government going to do with it? Bail out a few more banks?
As a famous Aussie Billionaire said a long time ago to a government inquiry:
'I am not evading tax in any way, shape or form. Of course, I am minimising my tax. Anybody in this country who does not minimise his tax wants his head read. I can tell you as a government that you are not spending it so well that we should be donating extra. '
http://iphone.appleinsider.com/arti...se-loophole-apple-uses-to-avoid-high-us-taxes
"... The process involves setting up an Irish subsidiary, such as Apple's headquarters in Cork, which is paid profits on products sold in the U.S. as royalties on patents owned by the company. ... "
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Wish granted, the loophole is closed with companies currently using it having a grace period to stop. http://iphone.appleinsider.com/arti...se-loophole-apple-uses-to-avoid-high-us-taxes