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

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  • Reply 81 of 161
    Quote:
    Originally Posted by Orangeoutsider View Post


    I hope you get filthy rich and the government soaks your ass to the bone with taxes!!



    What is it with you people beating up on those who actually earn lots of money. Why do you think that what others have made you are suddenly entitled. The government and you had nothing to do with their gain.



    You class envy, jealous socialist types need to butt out of other people's business.



    I couldn't agree more. Name one free country with a socialist or communist economy that has been a success. There are none.



    If you hate the rich and want to see them locked up and have their wealth confiscated you need to take an honest look at what kind of person you have become. These ideas are not in keeping with a free society. Do you even want to live in a free society? Or do you want to live in a country where a near-totalitarian government can target any group of people and confiscate their wealth and property and tightly control their behavior through endless layers of regulation and bureaucracy?



    Honestly, I am not familiar with the minutia of tax laws as they relate to the money held in foreign countries by the kinds of corporations mentioned in this article (I doubt that many people commenting in this forum are). I am not necessarily for or against taxation of this money if it is repatriated to the United States. I would have to learn more about it before I formed an opinion. But I am against this thug'ish left wing anti-rich mentality that is so common in many circles here in America.
  • Reply 82 of 161
    Quote:
    Originally Posted by Tallest Skil View Post


    Because that's the absolute opposite of what this is talking about.



    From the links it looks like pretty much the exact same. Can you tell us why it's any different?
  • Reply 83 of 161
    Quote:
    Originally Posted by SiMBa37 View Post


    There are many polls that show >80% of americans are in favor of a removal of tax breaks for the rich. Unfortunately our politicians dont serve the people, they serve the corporations, so its a mute point.



    Doesn't stop John "the tan man" Boener from constantly invoking the "will of the American people" every 5 minutes.



    Nearly 50% of Americans pay NO income tax! Of course these freeloaders will favor soaking the "rich". It's only "fair" that they get a free ride off the industry of others. It's somewhat ludicrous to talk about the "tax breaks for the rich" when they are already footing the vast portion of the tax burden. And no, I'm not one of those evil tax evading rich people.

    John
  • Reply 84 of 161
    solipsismsolipsism Posts: 25,726member
    Quote:
    Originally Posted by BTBlomberg View Post


    Well that would provide about $79 Billion in taxes at 5.25%. The regular tax rate is 35% which does appear high. at 10.5 it would still be to the companies advantage and provide $157.5 Billion.



    Apple had around $12 Billion in June, but it's likely more buy now. They would pay $630 Million at 5.25% vs. $4.2 Billion at 35% a $3.57 Billion saving for Apple.



    You must realize that Apple and these other companies likely payed local taxes on this money to the country the sale was conducted in. The US is just taking a cut for them bringing it back home to the US.



    That $79B is fr all thee holdings around the world. If I'm not mistaken the US is still the single largest profit center for Apple so a good portion of their holdings are already in the States. This is common with US-based companies so there is little no need for them to bring additional monies back to the States. The tax holiday is an incentive to help stimulate the economy in ways that simply aren't prudent when their is 35% levy. It may no good in most short term cases but it's certainly doing no good for the US being outside the US. Less of two evils, if you will.



    PS: For all those complaining about their own tax holiday. If you have billions you wish to bring into the US I'm all for you getting a tax break as well.
  • Reply 85 of 161
    Quote:
    Originally Posted by Akac View Post


    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.



    While I agree wholeheartedly about Steve Jobs (I think he's a model of what corporate executives *should* be in almost every way), I don't get your last sentence at all.



    "Fat Cats" at the top of the food chain are indeed a huge problem. That and general corruption have always been the main source of the economy's problems all through the 1900's and also today. In fact the same two things are more rampant and more of a problem today than they ever were.



    The recent crash for instance was caused by corruption and greed not economic instability. The money's been paid back but the rules haven't changed. It could happen again tomorrow and probably will.
  • Reply 86 of 161
    Quote:
    Originally Posted by Orangeoutsider View Post


    Written like a true pinko, commie, socialist.



    yeah! Just like the commie Warren Buffett!
  • Reply 87 of 161
    Quote:
    Originally Posted by jbaugh View Post


    Nearly 50% of Americans pay NO income tax! Of course these freeloaders will favor soaking the "rich". It's only "fair" that they get a free ride off the industry of others. It's somewhat ludicrous to talk about the "tax breaks for the rich" when they are already footing the vast portion of the tax burden. And no, I'm not one of those evil tax evading rich people.

    John



    Again...I agree. What's that old saying where a society will only remain free for as long as it takes for the common man to figure out that he can vote himself access to the public treasury?
  • Reply 88 of 161
    Quote:
    Originally Posted by Orangeoutsider View Post


    I hope you get filthy rich and the government soaks your ass to the bone with taxes!!



    What is it with you people beating up on those who actually earn lots of money. Why do you think that what others have made you are suddenly entitled. The government and you had nothing to do with their gain.



    You class envy, jealous socialist types need to butt out of other people's business.



    Yeah, blah blah blah ...



    It's pretty much impossible to even have a discussion with Americans about taxes. They hold a different view than pretty much every other country on the planet.



    Hmmm... I wonder who's probably right here?

    Everyone else, or the one backward country with the weird ideas?
  • Reply 89 of 161
    80 billion in cash reserves. Does anyone else think that it's because of huge piles of cash like that that poverty exists in the first place?

    Fuck, spend the frickin' money at home Apple if you truly care about the country.
  • Reply 90 of 161
    bigpicsbigpics Posts: 1,397member
    Originally Posted by Orangeoutsider

    Quote:

    You forgot to write that those low-income earners who pay FICA et al, get it all back and more in tax credits for low income and childcare. Quit playing the class-envy card!!! 47% pay NO taxes.



    Quote:
    Originally Posted by Hands Sandon View Post


    You mean 47% pay no "income taxes". When you factor in all taxes on average the wealthy pay only marginally more as a percentage of their income in taxes than everybody else.



    First, re Hands Sandon, what is the philosophical problem with "the wealthy pay[ing] only marginally more as a percentage of their income in taxes than everybody else"? Sounds like a plan that doesn't favor the rich unnecessarily to me.



    And to be fair, re Orangeoutsider, I don't think you're considering everything low-income folk pay - which proportionally hits them harder. That would include sales tax - considered the most regressive of taxes, since the low-income spend the highest proportion of their income on sales-taxed items in most jurisdictions. (Some sales taxing states "solve" this by not taxing food or clothing, e.g., or at least taxing it only within limits.)



    And then there are taxes and fees on phone and other utility bills. It also costs the same to inspect, emissions test and feed the meter for a Mercedes and a junker. Or to enter a National Park or State Park or public campground or cross a toll bridge, etc., etc.



    Back on the other side, however, starting within the last year or two, over 1/3 of ALL citizens are receiving some kind of "transfer payment" from the gov't, i.e., a freebie bennie.



    I also have friends receiving UI and food stamps and have been amazed that all they have to do is make a few clicks on a website every week or month to testify that, e.g., they're "looking for work," as the UI law requires (and some aren't) - and have no other income (while many are working off the books) as the food stamp law requires. And that's all the monitoring of eligibility there is!!



    Add it all up and I see two things:



    1. Our debates on taxation are generally merely exchanges of half-truths and insults because few consider (or are willing to acknowledge) the whole picture. (And I'm not claiming to be always innocent of this.)



    2. If you really look at who's getting the rawest deal you'll likely find it's the people in the middle-middle - NOT the rich - with their advantages - NOR the poor - with their bennies - who can make a case of being the most squeezed - receiving neither the perks nor the direct bennies, but making payments in every category of taxes and fees there are.
  • Reply 91 of 161
    Quote:
    Originally Posted by Prof. Peabody View Post


    Yeah, blah blah blah ...



    It's pretty much impossible to even have a discussion with Americans about taxes. They hold a different view than pretty much every other country on the planet.



    Hmmm... I wonder who's probably right here?

    Everyone else, or the one backward country with the weird ideas?



    Let me get this straight...America has reached greater degrees of prosperity as a free society than any other country in the world yet somehow we are "backward" and need to emulate other countries because they are all different? Which country do we need to emulate? Laos? Cambodia? Cuba? How about Greece?



    I thought being "different" was somehow always good and was always to be tolerated.
  • Reply 92 of 161
    ahmlcoahmlco Posts: 432member
    Quote:
    Originally Posted by Orangeoutsider View Post


    You forgot to write that those low-income earners who pay FICA et al, get it all back and more in tax credits for low income and childcare. Quit playing the class-envy card!!! 47% pay NO taxes!!!



    Play the class-envy card? Watch Fox much?



    THOSE low-income earners ... get it ALL back and MORE...



    Got numbers to back that up? Across the entire range of low-to middle class workers? (And BTW, stop playing the class card. Those people...)



    Hell, you probably got all of your taxes back too... in education, roads, infrastructure maintenance, et al [sic].



    "47% pay NO taxes"



    Income taxes, dolt. At least get your sound bit right. FICA et al are taxes too.



    Tweaking the donkey's tail is so much fun, I hardly know where to begin. Child care tax credits? Ummm.. Doesn't everyone (low, middle, upper) get credit for those? Should we cut those for everyone? Oh, and just for the record, child care tax credits are used solely to reduce the amount of income tax owed. You don't get the money back.



    Tax breaks on dependents? If you're low income, a higher proportion of your salary goes to housing, and deductions on mortgage interest also cut a significant amount off your tax bill. Should mortgage interest deductions go away for everyone?



    I'm self employed and spent almost $4,000 last year on health insurance. An amount deducted from my taxes. Should health insurance and medical expense deductions be zapped too?



    That way I don't "get it all back."



    Hey! Here's a number for you. One year I made $80,000 in consulting income. However, I did some investments and had some depreciations and some R&D credits and purchased some equipment, and that year I paid ZERO in income tax. (I did pay about $6,000 in SE tax.)



    I had a job. Made $80,000. But paid NO income tax. So add me to that 47% bracket. Am I a deadbeat?



    Or did all of the aforementioned deductions add up to the point where I simply paid no taxes? Did I get it ALL back???



    Quite spouting sound bites, and do a little bit of thinking for yourself for a change...
  • Reply 93 of 161
    Quote:
    Originally Posted by alienzed View Post


    Does anyone else think that it's because of huge piles of cash like that that poverty exists in the first place?



    Not really, no.
  • Reply 94 of 161
    Quote:
    Originally Posted by PaulMJohnson View Post


    I think that's not entirely fair. Between me and the wife, we make just over $250,000 a year, so not what people consider rich, though it puts us in the top 10% of US households, so actually, it is what should be considered rich (we've lost track of what rich and poor is in my opinion).



    However, despite what I earn, I will freely admit that I don't pay a fair amount of tax. To me it just doesn't seem morally right that I can significantly lower my tax bill because I have a large mortgage, meaning someone who can only afford to rent has to pay a higher percentage tax than me.



    The problem with the tax system for me at the moment is one of fairness. To be the whole system does not seem fair at the moment. I don't think it's a case of the less well off deserving a free ride, but I do think it's not right that we don't fund education properly, for example.



    Well, if don't think you are paying your fair share, pay in more to the government. Don't take your mortgage deduction. The IRS want mind. However, that is your choice and you shouldn't dictate what others should pay.
  • Reply 95 of 161
    Quote:
    Originally Posted by ahmlco View Post


    Play the class-envy card? Watch Fox much?



    THOSE low-income earners ... get it ALL back and MORE...



    Got numbers to back that up? Across the entire range of low-to middle class workers? (And BTW, stop playing the class card. Those people...)



    Hell, you probably got all of your taxes back too... in education, roads, infrastructure maintenance, et al [sic].



    "47% pay NO taxes"



    Income taxes, dolt. At least get your sound bit right. FICA et al are taxes too.



    Tweaking the donkey's tail is so much fun, I hardly know where to begin. Child care tax credits? Ummm.. Doesn't everyone (low, middle, upper) get credit for those? Should we cut those for everyone? Oh, and just for the record, child care tax credits are used solely to reduce the amount of income tax owed. You don't get the money back.



    Tax breaks on dependents? If you're low income, a higher proportion of your salary goes to housing, and deductions on mortgage interest also cut a significant amount off your tax bill. Should mortgage interest deductions go away for everyone?



    I'm self employed and spent almost $4,000 last year on health insurance. An amount deducted from my taxes. Should health insurance and medical expense deductions be zapped too?



    That way I don't "get it all back."



    Hey! Here's a number for you. One year I made $80,000 in consulting income. However, I did some investments and had some depreciations and some R&D credits and purchased some equipment, and that year I paid ZERO in income tax. (I did pay about $6,000 in SE tax.)



    I had a job. Made $80,000. But paid NO income tax. So add me to that 47% bracket. Am I a deadbeat?



    Or did all of the aforementioned deductions add up to the point where I simply paid no taxes? Did I get it ALL back???



    Quite spouting sound bites, and do a little bit of thinking for yourself for a change...



    Based on your post I'm surprised your were able to make any $
  • Reply 96 of 161
    gbdocgbdoc Posts: 82member
    Quote:
    Originally Posted by MDCragg View Post


    Name one free country with a socialist or communist economy that has been a success.



    First, learn the difference between the two. When you think you've got that down, sit down with a map of the world, maybe Google, and start to make a list. Write small. Don't ask Sarah Palin for help - but not because it'd be cheating .
  • Reply 97 of 161
    Quote:
    Originally Posted by gbdoc View Post


    First, learn the difference between the two. When you think you've got that down, sit down with a map of the world, maybe Google, and start to make a list. Write small. Don't ask Sarah Palin for help - but not because it'd be cheating .



    Referring to differences between communism and socialism and taking a shot at Sarah Palin is the best you can do?



    Again...name one free country with a socialist or communist economy that is a tremendous economic success please.
  • Reply 98 of 161
    dualsduals Posts: 41member
    How about we give an incentive for the behavior we want, e.g. for every 1,000 net new jobs a company creates and keeps in the U.S. we let the company bring back $100m in profits tax free. Gov't gets what they want, jobs, companies get what they want, tax free profits.
  • Reply 99 of 161
    ahmlcoahmlco Posts: 432member
    Quote:
    Originally Posted by Orangeoutsider View Post


    Based on your post I'm surprised your were able to make any $



    Down to insults, are we?



    Once you go past the sound bite, there's not much left, is there?
  • Reply 100 of 161
    Quote:
    Originally Posted by MDCragg View Post


    Referring to differences between communism and socialism and taking a shot at Sarah Palin is the best you can do?



    Again...name one free country with a socialist or communist economy that is a tremendous economic success please.



    Germany.



    Now I know you are going to argue Germany has a capitalistic economy and said position would have merit. However, if you asked any Republican or Tea Party person, the vast majority would say Germany is a socialist country -- because they don't know what the word "socialist" means. So instead of using labels most people don't understand, how about we just say let's be more like Germany - strong economy, second leading exporter behind China AND universal health care, workers treated fairly, not the great income disparity we have in this country.



    And for ALL the people who are complaining about ALL the people who pay NO taxes (Income tax) there is an easy solution. Better income distribution that actually gives the middle class a growth in wages that they haven't seen in the last 30 years so that they now make enough to pay INCOME tax.
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