But they're loopholes, not violations. Like others have said, the loopholes have to be found and closed so that corporations, even beloved ones, can't take advantage of them.
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U.S. Senators Claim Apple Has Avoided Paying Billions in U.S. Income Taxes Ahead of Tim Cook Testimony
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But they're loopholes, not violations. Like others have said, the loopholes have to be found and closed so that corporations, even beloved ones, can't take advantage of them.
Right, so if they are legal loopholes then why parade Cook into the Senate for questioning?
I don't think Apple's going to get dinged for this because it all seems absurdly legal, but it's certainly going to have a huge ripple effect and lead to changes in corporate tax laws. Apple can effectively say goodbye to not paying taxes. It's going to certainly lead to a drop in profits.
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Cook and co are not being indicted here. Congress likely just wants to know exactly how Apple is doing all this so they can close these loopholes. As much as I think Apple is a bunch of greedy bastards, I don't think they were breaking any laws.
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Cook and co are not being indicted here. Congress likely just wants to know exactly how Apple is doing all this so they can close these loopholes. As much as I think Apple is a bunch of greedy bastards, I don't think they were breaking any laws.
That's far too sensible. Instead, we'll just keep raising taxes and then complain when the highest earners move more of their money out of the country.
For those following along at home, a loophole is the failure of the lawmakers, not an illegal activity of tax payer.
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For the same reason all the BS Apple stories posted on blogs eyeballs/publicity.
I wasn't trying to imply wrongdoing on any one individual or corporation for taking advantage of the loophole. I was saying that they need to be shored up if the IRS is going to try and penalize corps for not paying enough taxes. I certainly do not think Apple was wrong here at all. If you can find a way to not pay the maximum tax rate then by all means, do it. Taxes are a suck and frankly, I would do the same thing.
Well said and I agree completely. Politicians are the ones who have set up such Byzantine tax laws. As long as Apple isn't breaking the law, I have no problem with them using the tax code to their advantage.
They get tax breaks for investing in green energy.
That is a loophole right there. A way to pay less taxes. A way to pay less than their "fair share".
Tax loopholes are LAW. If they are not following the law, they will pay for it. If they are taking advantage of loopholes, then good on them.
I think charity is a tax loophole too.
Shall we put an end to all the green energy and charity so everyone pays their "fair share"?
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The real question is:
Why do we burden our corporations so much?
We know businesses are important. We know that they provide employment and create goods. They build, the manufacture, they invent. They produce products that can make our lives better. They give people opportunity.
Shouldn't we be treating our corporations and businesses a little better and pave their road for success and not bleed them dry like some parasite?
That is a loophole right there. A way to pay less taxes. A way to pay less than their "fair share".
Tax loopholes are LAW. If they are not following the law, they will pay for it. If they are taking advantage of loopholes, then good on them.
I think charity is a tax loophole too.
Shall we put an end to all the green energy and charity so everyone pays their "fair share"?
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The real question is:
Why do we burden our corporations so much?
We know businesses are important. We know that they provide employment and create goods. They build, the manufacture, they invent. They produce products that can make our lives better. They give people opportunity.
Shouldn't we be treating our corporations and businesses a little better and pave their road for success and not bleed them dry like some parasite?
well, if it's all done legally, i don't see how can they say apple has been avoiding paying taxes. it is only logical for anyone to make as much money as possible (legally) and if the law allows certain practices that are frowned upon, the law has to be updated.
In a sense it feels like "damage control" for US Senators, Apple out smarted them, now they've got to close all the doors before election time.
Aww give the editor a break.... He's a rookie.Excuse me guys, am I the only one taking issue with the grammar here, wtf is that:
Wtf is the main verb and the object?
The sentence preceding is:
What was the tax scheme, it certainly wasn't "apple's claim".
As far as the topic goes, this is not solely about apple, multinationals have repeatedly pocketed governments worldwide (their bribing ELECTED officials is only comparable to what big booze and drug rackets are paying them) so they could create laws with plenty of loopholes for them to dodge enormous amounts in tax. Not only in the states, the world over. Speculating on the economy worldwide by the financial institutions, aka institutionalized casinos almost destructed the world in 2008 and it's after effects in terms of unemployment and poverty are felt until now and they aren't going away. Another problem is that of big companies avoiding the right share of tax.
Now where the hell is that mac pro apple?
Why is it hard to understand that if you make a device in China and then sell it to someone in France that this transaction does not result in taxes owed to the US Government?
Apple is doing the same stuff that all international Companies are doing. The media needs to stop reporting this like it is some sort of scandal.
Apple is doing the same stuff that all international Companies are doing. The media needs to stop reporting this like it is some sort of scandal.
I was replying to this post:
If the law allows it, then the problem is the law, not the action. And I also disagree with the handicap placard analogy. I know people who don't drive that have handicaps that most certainly deserve a handicap placard that the law allows.
Cook didn't contest Sen Levin's claims. So unless you have better information, it seems like these were reasonable facts.
And you just made this up.
And this is a real winner. In the last 5 years Apple had about $380B in revenue and 45,000 employees.
Given that apparently some $102B in revenue is attributed to Irish holding companies, (wow they really were going to hire 350 people there!), it's nutty to think this isn't going to be a problem.
This is more or less the same nonsense that leads to the collapse in places like Cyprus. A bunch of companies do questionable (i.e. not definitively illegal activities, but we don't know because they haven't gone to court yet) and then rather than go through the courts, some government goes in for a big cash grab, screwing over all the little people. Honestly, I wouldn't be surprised if this is the reason Apple stock has been runnning down.
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The most annoying thing about all this is while some of you are defending apple and crapping on the US government, the big concern is that there are buckets of US (apple) money in broke-ass Ireland, that is waiting to be grabbed by the French and the Germans.
Your example isn't apt at all, unless of course you have 150 billion dollars in the bank to pocket politicians and influence legislation worldwide.
The problem isn't that governments (some small minority portions of them that are not on the payroll of lobbies that is) or individuals don't attempt to close loopholes, it's that they don't have the clout at the end of the day to implement these changes, unless some big **** up by the big corporations and big capital happens (see worldwide financial crises in 2008 and it's terrible after effects (aka recession) in the west) and only THEN and MAYBE is something going to be done about it.
It's one thing to say, hey I abide by the law when you are the one responsible for influencing legislature to go your way, and quite another when you are in the vast majority of people whose hands are tied when it comes to voicing, let alone implementing their opinion on what the laws should be.
Who Jordan? I don't think he's a rookie really... Anyway he's quoting from somewhere.
Or take opposite stances on identical issues depending on the tax outcome.
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And I guess you get to decide what that amount is.
This comment couldn't be any more wrong. People pay lots of money every year to have professionals do their taxes and get the most deductions. People make huge purchases and enter into complex transactions on December 31 just to reduce their tax bill.
Edit: also, go read the tax court case from earlier this year involving Sergio Garcia and tell me individuals don't do crazy things.
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I said "most people". Therefore, the best you are doing is citing an exception that proves the rule.