According to the common US-American attitude, the answer would be yes. According to your grand-grand children, the answer definitely would be: Why didn't you do anything against the greed that destroyed our world when you still could?
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Tim Cook to Testify In Front of Senate Committee Over Apple's Tax Practices
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According to the common US-American attitude, the answer would be yes. According to your grand-grand children, the answer definitely would be: Why didn't you do anything against the greed that destroyed our world when you still could?
As a corporation, they have an obligation to do what is best for shareholders. Short term profits that might lead to a backlash that harms shareholders in the long term is not best for the shareholders.
(There are other considerations as well. It is known - at least among successful companies - that concentrating on keeping customers and employees happy and not worrying about shareholders is indeed a very good strategy for shareholders).
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champ01
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Our Government (in The Netherlands) has been playing Maffia with companies like Apple etc.
Loads of people should go to jail but of course nobody is. Many countries are missing billions of tax money because of dirty schemes.
Just keep voting guys. Keep believing in the illusion of democracy.
Loads of people should go to jail but of course nobody is. Many countries are missing billions of tax money because of dirty schemes.
Just keep voting guys. Keep believing in the illusion of democracy.
Why do socialists insist on using Buffet as a pinnacle of virtue? Nobody is stopping him from paying his "fair share", he can donate 99% of his entire fortune to the federal government right now.
http://www.businessinsider.com/warren-buffett-hypocrite-extraordinaire-2012-4
That's your hero?
Apple Tax Practices
Happening all over the world - in the UK we have non-payment of fair tax issues with a whole host of companies (many, many US unfortunately).
Google, Apple, Microsoft, Amazon, Starbucks - I agree that the objective of a company is to make profit (and in the UK it is the legal responsibility of the directors of the company to maximise profits for the shareholders) so the multinationals as well as UK companies are bound by law.
There is no moral obligation in UK law (and US law has a similar basis) to maximise tax payments to any government in which it operates.
Tax advisers and lawyers have but one aim - to reduce the tax paid and minimise (legally) the tax burden of their clients.
As long as companies like Apple stay within the law, there should be no issue - if we do not like this way of (not) gathering taxes, then change the system, don't blame the companies who are operating completely within the law and the code set out for them by government.
Happening all over the world - in the UK we have non-payment of fair tax issues with a whole host of companies (many, many US unfortunately).
Google, Apple, Microsoft, Amazon, Starbucks - I agree that the objective of a company is to make profit (and in the UK it is the legal responsibility of the directors of the company to maximise profits for the shareholders) so the multinationals as well as UK companies are bound by law.
There is no moral obligation in UK law (and US law has a similar basis) to maximise tax payments to any government in which it operates.
Tax advisers and lawyers have but one aim - to reduce the tax paid and minimise (legally) the tax burden of their clients.
As long as companies like Apple stay within the law, there should be no issue - if we do not like this way of (not) gathering taxes, then change the system, don't blame the companies who are operating completely within the law and the code set out for them by government.
As long as it's legal, it would be foolish for Apple to pay taxes that it could legally avoid. However these laws seem to feed the greediness of large corporations. A clearer tax code that obliges the company to pay its fair share to the country would be an excellent idea.
The thing is they're paying their fair share. They simply can't bring it home because then they'd be taxed in the country where they made it and then taxed again in the US just to bring the money in and thats just stupid for a company to do,being taxed just to bring money inside a country? ridiculous.
Imagine you're a tourist and you go to NY,you arrive at the airport with 1000$ and they tell you you need to drop 130$ just to bring your money with you,isn't that ridiculous?
As long they pay all the taxes of money they earn inside the US they shouldn't be taxed for money they don't make inside the US.
this is why capitalism and just a monetary based system in general is a heaping pile of ****. capitalism breeds corruption. this will not change as long as things like campaign sponsors and former CEO's being in politics is allowed. politicians should not exist. it should not be a job. on a side note this post is not pro socialism.
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Keep Dreaming.
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Our Government (in The Netherlands) has been playing Maffia with companies like Apple etc.
Loads of people should go to jail but of course nobody is. Many countries are missing billions of tax money because of dirty schemes.
Just keep voting guys. Keep believing in the illusion of democracy.
No, Democracy is not does Not equal justice.
Democracy is a battle field, where only those who know where their interest lays prosper.
It is easy to derail Democracy:
-- ignorant voters ( those who believe the poor and the elders are moochers, therefore always voting against their own interest )
-- paying Academics to fake papers ( climate change deniers, Reinhart/Rogoff shenanigan )
-- Using an ancient book written by men as the law of the land.
-- Trowing money at politicians
This seems terribly unproductive to everyone. Profits would be better offset with US factories and new jobs.
Umm, who do you think has a bigger influence on the the US Tax Code. The regular citizen...or big business who stands to profit billions from these loopholes. They'll just keep contributing to the lawmkers on the side and go and let them go through the charade that they are concerned about the issue.
It is better for the nation if the tax laws are updated, but the folk on congress (on both sides) are WAY more worried about their well being than the American people.
So Apple = tourist in the USA?
funny.
The problem is not USA only, it is a world wide phenomena, no one country can do **** about it.
But the worst thing is not the taxes itself ( with would help investment in the public education and he alt care, broadening the middle class appetite for consumerism ), it derails direct investment on the economy, it helps widening the gulf between the money investor put in their pocket versus what the creators of products, the workers actually collect.
reason WHY the Wall Street boys are the only one making actual money in the USA.
The wages of the rest is getting stagnant or worsening.
I own a house. When I pay my taxes every year, I get a discount based on how much mortgage interest I paid that year. That is a loophole that I am legally allowed to take advantage of. And I take advantage of that loophole to the fullest extent that I can. And I take advantage of any other loophole I can find that's been provisioned in the law for me to use.
Apple is doing nothing different. If a loophole exists, it's because that loophole was specifically provisioned in the law. Whether that loophole is just or not is certainly subject to debate, but the accountability for unjust loopholes does not lie with those who legally take advantage of them, it lies with those who created the law.
Apple has zero moral obligation to pay more in taxes to the US than that which the US tax code specifies, inclusive of any and all loopholes. The notion that Apple should be a knight on a white horse for the US economy, and pay more in taxes than what it owes, is idiocy. And something tells me, Saladinos, that you have never once written a check to the IRS that was higher than the amount your tax return says you owe.
You seem to be a champion of the Warren Buffett cause. However, your argument falls on it's face right out of the gate. Warren Buffett paid only $7 million in taxes, but he can afford more. So in other words, he pays the best accountants money can buy to find every loophole possible in order to minimize his tax obligation, just like Apple.
You socialists and your Robin Hood economics really do make my stomach turn.
Apple is doing nothing different. If a loophole exists, it's because that loophole was specifically provisioned in the law. Whether that loophole is just or not is certainly subject to debate, but the accountability for unjust loopholes does not lie with those who legally take advantage of them, it lies with those who created the law.
Apple has zero moral obligation to pay more in taxes to the US than that which the US tax code specifies, inclusive of any and all loopholes. The notion that Apple should be a knight on a white horse for the US economy, and pay more in taxes than what it owes, is idiocy. And something tells me, Saladinos, that you have never once written a check to the IRS that was higher than the amount your tax return says you owe.
You seem to be a champion of the Warren Buffett cause. However, your argument falls on it's face right out of the gate. Warren Buffett paid only $7 million in taxes, but he can afford more. So in other words, he pays the best accountants money can buy to find every loophole possible in order to minimize his tax obligation, just like Apple.
You socialists and your Robin Hood economics really do make my stomach turn.
I'm not sure why they have Tim Cook there. They should really have Apple's tax lawyers there if they are serious about discussing Apple's off shore money. It just sounds like another attempt for politicians to get in front of the camera .
.Thing is Apple pays it's US tax on stuff it does in the US and pays other countries local taxes on stuff it does there. Problem is if Apple wants to bring any of the money home from abroad, which has already been taxed by another country, it will get taxed again by the US. So how is taxing something that has already been taxed fair? If it's the tax system that is broken you can't blame tax payers for it. This is not only a US problem either, multinationals based all over the world offset profits from one country to another to pay the least overall tax they can. If its not illegal they would be stupid not to.
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Workers create nothing! That view is pure communism at its worst!
In truth, their livelihood depends solely upon the patronage of others - the actual creators.
Don't be an idiot,if you sell a device in Europe and you pay the taxes of the country but your company is based in the US why should the US government tax you for money you earned outside of the US? lets say you go work in Japan and you earn 100 000$ working there,you come home to the US and at the airport they tell you: hey i know you worked in Japan and all and we really didn't have anything to do with your work there so just give us 13k$ and you can bring it in.
the US government is actually taxing companies for bringing money into the US where it could be used for some purpose,this way it rests outside of the US where they're of no use to the american economy.you know something is wrong when its easier to borrow money than to use your own.
Please Apple and any smart company won't bring money earned elsewhere into the US just to be taxed again. don't give me that health care crap,how would Apple being taxed 13billion$ help on fostering consumerism?
this tax law is exactly why Wall Street is making money,Apple asked for like 17billion$ on a loan from the Wall Street fellas which with even a low interest rate will make them earn a lot of money,thats how Wall Street is making money,they're making money because its easier to loan money than use your own.
Also its incredible the sentiment that somehow because Apple has deep pockets they're supposed to be taxed more just because.
Also to the guy that suggested that taxing the IP money,are you serious? They'd just register somewhere else and not register them in the US. Also why would the US be entitled to money just because a device uses an american patent? the entire world has a lot of patents my friend and this american policy of lets get money form anywhere as long as it has a small connection to the US.
The reason America has such a huge debt is because of your relentless investment in defense,spending and spending with no regards for its effects on the future,now you have a huge army(the best in the world no doubt) that costs you a lot of money and due to the reckless spending several interests were installed in the defense area and now they want to keep money flowing to their pockets. You also sold the idea that any american could become a millionaire and all those pretty ideas which have led to a self-entitled generations(mine and the next one) which doesn't to work and is all about having swag and taking pictures of your food.
let's face it: we all want a perfect world where no one struggles and we all live handsomely but its feasible because if the reward is the same for everyone theres no incentive in working hard and working hard is what moves things forward.
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I agree. Unless something comes out in Cook's testimony, I don't see where Apple is breaking any laws. Is Apple supposed to voluntarily pay more taxes than are owed just because they have a ton of money? I supsect this type of thing occurs all the time. It just so happens that there is so much money involved in this particular situation, so lawmakers want to use Apple as a means to advance their political agendas... on both sides of the aisle, of course! Business as usual for Congress!
Disingenuous statement. Zero taxes? People pay gasoline taxes, sales taxes, excise taxes (indirectly but paid), Federal and State and Local Payroll taxes, Local school and property taxes, etc.
Sweeping generalizations are immature and sensational. Just be rational and say that certain citizens pay more taxes than others. The zero tax statement makes you seem obtuse.
We should form a club for people who have read things recently! I have also read lots of things recently that support my political beliefs and personal agenda.
Not arguing, just not understanding...which German tax is paid by Apple in this scenario? Any VAT or sales tax on the purchase is paid by the German consumer, not by Apple. I believe it is the profit/income that is in question here, and I don't see how Germany or China gets any of that.
Isn't it the case that Apple is deferring the income tax by leaving the profits from the sale in China or Germany? It's not that they paid the tax already and are being double-taxed, it's that they are avoiding/delaying the tax as long as possible. At least that's what I thought, but I'm no expert.
Crazy Forum
1. Get rid of corporate and individual income taxes (repeal 16th amendment).
2. Implement a national sales tax.
3. Stop all foreign wars.
4. Get military out of foreign countries.
5. Legalize illegal immigrants.
6. Stop Federal spending
7. Shrink the Federal government.
8. Idolize wealthy philanthropists.
Okay.. That's super simplified and each one could have it's own thread, but honestly a 74K page tax code is nuts. Loopholes, yeah we have loopholes. Sure there's tons wrong with our system, but complaining about one companies doings is just is silly. The problem lies with government, not Apple. Legally Apple has to do everything in its power to increase value to shareholders. So if companies find loopholes to increase the bottom line, they're obligated to do so. Is that a problem? Yes. It's also a reason why some companies don't want to go public. However, there's so much more to it than that.
Our Federal government wastes so much money, it's ridiculous. Business create wealth, government doesn't. Our countries biggest problem is our debt and we didn't get there by people not paying "their fair share." We got there by politicians spending money and this falls on both sides of the aisle.
The biggest positive change we can make right now is simplifying the tax code.
1. Get rid of corporate and individual income taxes (repeal 16th amendment).
2. Implement a national sales tax.
3. Stop all foreign wars.
4. Get military out of foreign countries.
5. Legalize illegal immigrants.
6. Stop Federal spending
7. Shrink the Federal government.
8. Idolize wealthy philanthropists.
Okay.. That's super simplified and each one could have it's own thread, but honestly a 74K page tax code is nuts. Loopholes, yeah we have loopholes. Sure there's tons wrong with our system, but complaining about one companies doings is just is silly. The problem lies with government, not Apple. Legally Apple has to do everything in its power to increase value to shareholders. So if companies find loopholes to increase the bottom line, they're obligated to do so. Is that a problem? Yes. It's also a reason why some companies don't want to go public. However, there's so much more to it than that.
Our Federal government wastes so much money, it's ridiculous. Business create wealth, government doesn't. Our countries biggest problem is our debt and we didn't get there by people not paying "their fair share." We got there by politicians spending money and this falls on both sides of the aisle.
The biggest positive change we can make right now is simplifying the tax code.
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