Apple still pushing for $1.5 trillion US overseas profit tax holiday

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  • Reply 21 of 161
    maguromaguro Posts: 65member
    Quote:
    Originally Posted by AppleInsider View Post


    The a proposed bill



    Daily typos continue unabated...
  • Reply 22 of 161
    macinthe408macinthe408 Posts: 1,050member
    Where is my fucking tax holiday?
  • Reply 23 of 161
    rtm135rtm135 Posts: 310member
    You're a fool if you honestly believe that. That's just a tax trick. He makes his money other ways, trust me.



    Quote:
    Originally Posted by Jexus View Post


    Steve Jobs makes a dollar a year. Compare that to Other CEO's.



  • Reply 24 of 161
    cvaldes1831cvaldes1831 Posts: 1,832member
    Quote:
    Originally Posted by macinthe408 View Post


    Where is my fucking tax holiday?



    You're already getting it.



    Employee Social Security contributions were slashed this year. Enjoy.
  • Reply 25 of 161
    akacakac Posts: 512member
    Quote:
    Originally Posted by rtm135 View Post


    You're a fool if you honestly believe that. That's just a tax trick. He makes his money other ways, trust me.



    Exactly. He earns it. Who cares how much money Steve has? He's spent decades building companies and building jobs for tens of thousands of people.



    He deserves every penny. This isn't the "fat cats" era people seem to keep dredging up from the 1900s.
  • Reply 26 of 161
    solipsismsolipsism Posts: 25,726member
    Quote:
    Originally Posted by rtm135 View Post


    You're a fool if you honestly believe that. That's just a tax trick. He makes his money other ways, trust me.



    But how much is based directly on performance not simply him being appointed. I'd like to see more company heads actually believe in a company while working to make it successful.
  • Reply 27 of 161
    cvaldes1831cvaldes1831 Posts: 1,832member
    Quote:
    Originally Posted by rtm135 View Post


    You're a fool if you honestly believe that. That's just a tax trick. He makes his money other ways, trust me.



    Actually, Steve gets no other cash compensation from Apple; he has stock option grants, but he hasn't exercised any for a while. He gets healthcare coverage, plus use of the Gulfstream V but Apple doesn't really pay him anything.



    He's probably raking in $30 million annually in Disney dividends, but that's not Apple who is paying out. His portfolio is likely more diversified than one equity, so it's pretty safe to assume that his other investments return a decent amount. That said, the guy doesn't have to work. He could just sit on a beach, read books and drink umbrella cocktails all day long.



    Heck, he sits on Disney's board and they had to change their compensation clauses when he requested not paid as a non-executive director.
  • Reply 28 of 161
    yeah right... give the rich even more tax breaks.. peachy.

    so apple can invest in more factories in China to make products for sale guess where? IN CHINA. You get the idea who benefits from this.
  • Reply 29 of 161
    So, let me get this straight, if (for example) a company called Apple France buys computers from Apple, Inc. and sells them in France and makes a profit and pays France taxes on those profits - everything's ok, right?



    Then, Apple is going on about its business here in the US tries to make a decision about moving money that is sitting in Apple France's bank account to the USA. Taxes on that money have already been paid to France. And presently, that money would be taxed a second time if they tried to move it to the US. So, they have no need to move it -- if they don't, it gives Apple France plenty of cash to spend in France (they can buy some more advertising, hire more employees, or build more stores, etc.). But, if they do move it, then the cash is here and Apple can do things with it here.



    The choice is theirs, and as things stand presently with the double tax they'd have to pay by moving it, it makes more economic sense to just leave it in France. Companies make decisions based on factors like this all the time. If there was no barrier to making that transaction, it would occur much more often and more money would be in our economy.
  • Reply 30 of 161
    brucepbrucep Posts: 2,823member
    Quote:
    Originally Posted by cvaldes1831 View Post


    You're already getting it.



    Employee Social Security contributions were slashed this year. Enjoy.



    Apple should give 12% of 80% of the foreign funds Apple is hoarding .

    The 20% is held for over seas business uses.



    Apple then can take the balance and re invest here in America .



    5% is way too low .







    peace







    9
  • Reply 31 of 161
    ktappektappe Posts: 808member
    Quote:
    Originally Posted by solipsism View Post


    I'm all for this so-called tax holiday.



    And without a single piece of supporting evidence, your post is just yet another troll.
  • Reply 32 of 161
    MacProMacPro Posts: 19,521member
    Quote:
    Originally Posted by Maguro View Post


    Daily typos continue unabated...



    They should proof read better but this huge increase in weird words popping up and alternate spellings is since iPads and Lion IMHO (that's my excuse and I'm sticking to it). It can be quite amusing at times but also embarrassing after you press send / enter ... just as you see a real blooper in a message with no ability to edit.
  • Reply 33 of 161
    solipsismsolipsism Posts: 25,726member
    Quote:
    Originally Posted by ktappe View Post


    And without a single piece of supporting evidence, your post is just yet another troll.



    What supporting evidence does one require for a personal opinion? Now if I stated you should support it too and then gave no supporting evidence as to why I could see why you'd have a problem with my post. As for trolling, of our two posts yours is the one that appears intent on inciting an angry response.
  • Reply 34 of 161
    Quote:
    Originally Posted by Orangeoutsider View Post


    Written like a true pinko, commie, socialist.



    Archie Bunker is that you?
  • Reply 35 of 161
    fearlessfearless Posts: 138member
    Well isn't this just typical of American behaviour in a globalised world - sell us all on the idea of opening our markets through devices like the Trans Pacific Partnership (our NAFTA) while maintaining protectionist policies to protect Amerucans who make what we sell (farmers) then subsidise US exporters through the tax system. Why should we sign up for that?



    Typical cynical self interested lobbying from the country that's turned hypocrisy into an art form.
  • Reply 36 of 161
    gatorguygatorguy Posts: 23,506member
    Quote:
    Originally Posted by solipsism View Post


    I'm all for this so-called tax holiday.



    Is it because you believe there's a significant public benefit to doing so, or is more from an investor viewpoint? And if you believe there's a public benefit, what is the primary one?



    Noted that you're no longer an Apple shareholder.
  • Reply 37 of 161
    Quote:
    Originally Posted by solipsism View Post


    I'm all for this so-called tax holiday.





    PS: This is article about politics so I'm surprised at how tame the rhetoric is so far. If ever there was a thread for crazies to take their soapbox this is it.





    Sheesh, "Crazies"? How dare people state contrary views to your own? It's especially rich, given you've just stated your own personal view.
  • Reply 38 of 161
    huntercrhuntercr Posts: 140member
    Quote:
    Originally Posted by studiomusic View Post


    What's 5% of $1.5 trillion?

    Much better than 0% of $1.5 trillion.



    That's not the point. The point is the government is closing the loop on that 0%.. meaning all that money will be taxed at the normal 15 - 35% for business income.



    The lobbyists are saying they need a year of 5% taxes and pledging to use the extra money they'd receive in profits to "stimulate jobs"



    They're begging "please please don't make me pay taxes on the money I purposely kept out of the country to try and avoid paying taxes on.... pretty please?"



    Senator Bernie Sander's list of top 10 companies who are cheating and avoiding income tax:



    ---

    1) ExxonMobil made $19 billion in profits in 2009. Exxon not only paid no federal income taxes, it actually received a $156 million rebate from the IRS, according to its SEC filings.



    2) Bank of America received a $1.9 billion tax refund from the IRS last year, although it made $4.4 billion in profits and received a bailout from the Federal Reserve and the Treasury Department of nearly $1 trillion.



    3) Over the past five years, while General Electric made $26 billion in profits in the United States, it received a $4.1 billion refund from the IRS.



    4) Chevron received a $19 million refund from the IRS last year after it made $10 billion in profits in 2009.



    5) Boeing, which received a $30 billion contract from the Pentagon to build 179 airborne tankers, got a $124 million refund from the IRS last year.



    6) Valero Energy, the 25th largest company in America with $68 billion in sales last year received a $157 million tax refund check from the IRS and, over the past three years, it received a $134 million tax break from the oil and gas manufacturing tax deduction.



    7) Goldman Sachs in 2008 only paid 1.1 percent of its income in taxes even though it earned a profit of $2.3 billion and received an almost $800 billion from the Federal Reserve and U.S. Treasury Department.



    8) Citigroup last year made more than $4 billion in profits but paid no federal income taxes. It received a $2.5 trillion bailout from the Federal Reserve and U.S. Treasury.



    9) ConocoPhillips, the fifth largest oil company in the United States, made $16 billion in profits from 2007 through 2009, but received $451 million in tax breaks through the oil and gas manufacturing deduction.



    10) Over the past five years, Carnival Cruise Lines made more than $11 billion in profits, but its federal income tax rate during those years was just 1.1 percent.
  • Reply 39 of 161
    Quote:
    Originally Posted by Tallest Skil View Post


    Why not "Apple, et. al. push for a…" instead of making it look like Apple itself is going to get a trillion and a half dollars in profit if they stop being taxed?



    I mean, that makes complete sense and all, what with obscene EU taxes, but still.



    Thanks TS - or "Tax Holiday still on wish list for top US international companies, including Apple" the existing headline makes it sound like Apple has a trillion dollar stake in the tax holiday - which it clearly doesn't.
  • Reply 40 of 161
    solipsismsolipsism Posts: 25,726member
    Quote:
    Originally Posted by Gatorguy View Post


    Is it because you believe there's a significant public benefit to doing so, or is more from an investor viewpoint? And if you believe there's a public benefit, what is the primary one?



    Noted that you're no longer an Apple shareholder.



    1) I am an Apple shareholder again. I bought in pretty much at the low point. Saved myself about 45/share.



    2) I see no benefit with the money staying overseas. If money comes back to the US to be spent in the US many of the good purchase with said funds could be taxed. As of right now zero of it is being used and the government can't force a company to bring it back.





    Quote:
    Originally Posted by Hands Sandon View Post


    Sheesh, "Crazies"? How dare people state contrary views to your own? It's especially rich, given you've just stated your own personal view.



    So I mention a thread that surrounds politics is okay for stating one's politics unlike the crazies who jump into a political discussion in a thread that has absolutely nothing to do with politics and that makes me crazy. You may not be crazy, but your reading comprehension isn't exactly sound.
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