Linked by Thom Holwerda on Tue 21st May 2013 21:45 UTC
"There's a disconnect between how Apple CEO Tim Cook sees his company's tax strategies and how some members of the US Senate view it. That became clearer than ever today after Cook and two other Apple executives testified before Congress, explaining why they're holding most of their international income in Irish subsidiaries like Apple Operations International, which declare no tax residency anywhere in the world. AOI hasn't filed a tax return anywhere in the world for the last five years, yet it earned $30 billion in income from 2009 to 2012, according to a Senate report released yesterday." Just because something is legal, doesn't mean it's just. Apple, Google, Microsoft, and many more - these companies might not be breaking any laws, but it's obvious to anyone that what they are doing is scummy.
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Member since:
2013-03-06
More to the point... how is it scummy?
I don't know a single person who doesn't go out of his way to lower his taxes. Apple is not "not paying taxes" but rather trying to keep more of what it made... just like everyone else.
The current administration has made the US a non business friendly country. Apple’s accountants have found legal ways to allocate about 70 percent of its profits overseas, where tax rates are often much lower.
Apple created two Irish subsidiaries — today named Apple Operations International and Apple Sales International — and built a glass-encased factory amid the green fields of Cork. The Irish government offered Apple tax breaks in exchange for jobs. Seems like a fair deal to me.
Each of those jobs creates a wage that is then taxed. This is good government policy in action... coincidentally something each of the republican presidential candidates advocated for as ultimately it creates more wealth for the country.
Now, Obama's policy is to make large taxes on business and then make large taxes on citizens all while spending higher and higher.
Edited 2013-05-22 04:19 UTC