Apple's tax strategy portrayed by Senate subcommittee as a unique 'absurdity'

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  • Reply 61 of 159
    jdsonicejdsonice Posts: 156member
    This was posted on another website. The document is self explanatory if the Senate does the unthinkable and actually reads it. But that skill is sadly missing among that elite group.

    http://www.sanders.senate.gov/imo/media/doc/102512 - JobDestroyers3.pdf
  • Reply 62 of 159
    jdsonicejdsonice Posts: 156member
  • Reply 63 of 159
    jessijessi Posts: 302member

    Quote:

    Originally Posted by MJ1970 View Post

    They did the same thing to Standard Oil a hundred years ago (or so). It's SOP. Someone produces something extremely valuable, makes a boatload of money, then they get attacked in the press and Congress until they are knocked down a notch. It is the American way I guess.


     


    Kids today still think Standard Oil was and evil monopolist.... the company that drove the price of gasoline down from $1.37 a galon (something like $13.70 in today's dollars) down to $0.27 a gallon!


     


    They made motor transportation, previously the realm of the rich, and made it available to wide swaths of the public.  Even poor people could take bus service -- service that wasn't economically viable before.   They improved the lives of millions of people.


     


    But politicians can't stand to see anyone making money and them not getting to take a generous cut, so they broke up standard oil and looted the company until there was nothing left. 

  • Reply 64 of 159
    charlitunacharlituna Posts: 7,217member
    jessi wrote: »
    Let's stop calling it a loophole.  This plays into the lie that they are somehow "avoiding" tax.   It's not a loophole that the USA can't collect taxes for business outside it's jurisdiction.   It's simply the fact that the US Government has no right to a cut of business that occurs overseas.

    The US should have a cut of business done in the US regardless of where the company is from. Just like when my Cali based company goes and does a shoot in Colorado, we pay sales tax, income tax etc for what we earned there. We don't quibble about it cause if our set burst into flames it's not Cali that is sending the fire fighters etc.

    The issue here is that the US government wants to tax all money regardless of where it was earned and they are pissed that the laws block that. But on the flip side, if Apple were required to funnel everything through Apple USA then other countries are losing money for companies they are helping to support. How is that fair? It is actually more even if an international company has offices at least in several regions to spread the wealth, just like perhaps production etc should be in zones. US for North America, Brazil for South, Ireland for Europe, china for Asia/Pacific.

    But rather like the studio and net heads that won't think global with their IP, the US government thinks only about itself and it is biting them in the butt
  • Reply 65 of 159
    jessijessi Posts: 302member

    Quote:

    Originally Posted by jdsonice View Post


    http://www.sanders.senate.gov/imo/media/doc/102512 - JobDestroyers3.pdf


     


    That document explains it all folks.



    No matter how many lives Polticians destroy in their quest for unearned wealth and power, they will always, ALWAYS, blame it on someone else.


     


    They destroyed the healthcare system to the point where people couldn't afford health insurance, and what did they do? They blamed the insurance companies and then passed obamacare to nationalize the industry (which makes it even easier to loot.) 


     


    The only questions is, how long will people continue to believe this kind of propaganda, until they wake up and notice-- the stimulus bill did not stimulate the economy, it made it worse, as economists predicted-- and every other such measure that is claimed to "help people" only helps the politicians and hurts the people.

  • Reply 66 of 159
    gregordgregord Posts: 36member


    Posting your propaganda from the socialist Bernie Sanders was so important you had to do it twice? How about instead of attacking companies that avoid taxes completely legally, you work toward a fair competitive corporate tax code, such as the one Apple suggests or the Ryan tax plan?

  • Reply 67 of 159
    charlitunacharlituna Posts: 7,217member
    gqb wrote: »
    Wow... is this ever turning into a witch hunt.
    Find one company with big name recognition, crucify them and let the others (who are contributing to your campaigns) off.

    Yep, just like the 'slave labor' in China, Apple gets all the press while Google etc enjoy their lack of attention and keep doing the same things.
  • Reply 68 of 159
    MacProMacPro Posts: 19,453member
    I wonder how well the members of Congress' own tax returns would stack up in comparison to Apple's relative to income.
  • Reply 69 of 159
    philboogiephilboogie Posts: 7,671member
    solipsismx wrote: »
    There isn't a word at just how ridiculous and absurd Levin's comments are. Government troll? Teckstudian politician?

    Good ones. Or perhaps, Tax-Gate Creator.
  • Reply 70 of 159
    evilutionevilution Posts: 1,398member
    Oh great, AI have found a new seem of click bait that they can abuse for a few months until something else happens.
    Apple paid all of the taxes it was due, there are loads of companies that paid nothing at all.

    I don't want to read about tax on here so maybe if we don't comment on the tax posts, they'll stop dragging them out.
  • Reply 71 of 159
    mj1970mj1970 Posts: 9,002member

    Quote:

    Originally Posted by Jessi View Post


    Kids today still think Standard Oil was and evil monopolist.... the company that drove the price of gasoline down from $1.37 a galon (something like $13.70 in today's dollars) down to $0.27 a gallon!



     


    That's what happens when you have a socialist propaganda system passing itself off as an educational system.


     


     


    Quote:

    Originally Posted by Jessi View Post


    They made motor transportation, previously the realm of the rich, and made it available to wide swaths of the public.  Even poor people could take bus service -- service that wasn't economically viable before.   They improved the lives of millions of people.



     


    Even before that was replacing whale oil for interior lighting. Possibly actually saving the whales, ironically enough.


     


     


    Quote:

    Originally Posted by Jessi View Post


    But politicians can't stand to see anyone making money and them not getting to take a generous cut, so they broke up standard oil and looted the company until there was nothing left. 



     


    Pretty much. Though it is astonishing how the Standard Oil wealth affects us even today. Did you know that even Apple, to some degree, owes its existence to the Standard Oil fortune? One of the early VC investors in Apple was Venrock.

  • Reply 72 of 159
    andysolandysol Posts: 2,506member

    Quote:




    Levin

    The senator ... noted that he carries an iPhone in his pocket.


     


    What a ringing endorsement.  Samsung should use this as their next campaign ad.image

  • Reply 73 of 159

    Quote:

    Originally Posted by AppleInsider View Post



    Taking a dissenting opinion on the subcommittee was U.S. Sen. Rand Paul (R-Ken.), who criticized his colleagues for "bullying, badgering and berating" a great American success story. He said that Apple has broken no laws, and is simply following the rules of an outdated U.S. tax code.U.S. Sen. Rand Paul took his colleagues to task for Tuesday's hearing, suggesting they instead apologize to Apple and thank them for creating American jobs.



    "Congress should be on trial for chasing the profits of American companies overseas," he said.



    Paul characterized Tuesday's hearing as a waste of time, both for the politicians involved and for Apple executives who were in attendance to testify. He also suggested that other members of the subcommittee do all they can to lower their individual tax rates as well.



    Rather than criticizing Apple, Paul said the subcommittee should apologize to the company, and compliment them for their job creation.



    "We should have brought in here today a giant mirror, so that we can look at the reflection of Congress, because this problem is created by the awful tax code," he said.



    Following the opening remarks on Tuesday, Apple Chief Executive Tim Cook and Chief Financial Officer Peter Oppenheimer are scheduled to testify. AppleInsider will have ongoing coverage throughout the day.


    Thank God for Rand Paul....there is some common sense in Washington

  • Reply 74 of 159

    Quote:

    Originally Posted by AppleInsider View Post



    Taking a dissenting opinion on the subcommittee was U.S. Sen. Rand Paul (R-Ken.), who criticized his colleagues for "bullying, badgering and berating" a great American success story. He said that Apple has broken no laws, and is simply following the rules of an outdated U.S. tax code.U.S. Sen. Rand Paul took his colleagues to task for Tuesday's hearing, suggesting they instead apologize to Apple and thank them for creating American jobs.



    "Congress should be on trial for chasing the profits of American companies overseas," he said.



    Paul characterized Tuesday's hearing as a waste of time, both for the politicians involved and for Apple executives who were in attendance to testify. He also suggested that other members of the subcommittee do all they can to lower their individual tax rates as well.



    Rather than criticizing Apple, Paul said the subcommittee should apologize to the company, and compliment them for their job creation.



    "We should have brought in here today a giant mirror, so that we can look at the reflection of Congress, because this problem is created by the awful tax code," he said.



    Following the opening remarks on Tuesday, Apple Chief Executive Tim Cook and Chief Financial Officer Peter Oppenheimer are scheduled to testify. AppleInsider will have ongoing coverage throughout the day.


    Thank God for Rand Paul....there is some common sense in Washington

  • Reply 75 of 159
    chadmaticchadmatic Posts: 285member

    Quote:

    Originally Posted by tarfungo View Post


    This ^^



    This^^

  • Reply 76 of 159
    dickprinterdickprinter Posts: 1,060member

    Quote:

    Originally Posted by MJ1970 View Post



    That picture captures the perfect iconic image if a life long, fat cat politician.


    I was thinking the only thing missing is the white powdered wig.

  • Reply 77 of 159
    eldernormeldernorm Posts: 232member
    Its NOT a LOOPHOLE..... its the law..... If you go 48 in a 50 mph zone,,,, did you break the law or just use a loophole of driving less than the max????

  • Reply 78 of 159


    Jessi, MJ and of course the MODS... Funny how just a few get it. For those without a clue here are some terms to look up...


     


    IMF


    MIC


    Federal reserve act of 1934...   a few places to start...


     


    There is no vote, there is no "free" country... Just the place we allowed them to build over the last 200 years... 1984 anyone? we are all prisoners in a GLOBAL gilded cage, sad but true. Get over it and go buy some bling for your device and eat at Sicky D's...


     


    Remember when art was art? not a commodity? 


     


    uh-oh... rant brewing....


     


    Dear Apple, just keep making cool stuff for us, to hell with everything else.


     


    my 2cents


     


    Twist...

  • Reply 79 of 159
    gregordgregord Posts: 36member
    eldernorm wrote: »
    Its NOT a LOOPHOLE..... its the law..... If you go 48 in a 50 mph zone,,,, did you break the law or just use a loophole of driving less than the max????

    Of course it is a loophole when you consider the intent of tax law.
    http://i.word.com/idictionary/loophole
  • Reply 80 of 159
    pendergastpendergast Posts: 1,358member

    Quote:

    Originally Posted by MJ1970 View Post


     


    image


     


    image


     


    No. The problem is the government. The politicians and the voting patterns are the symptoms.



     


    Considering the Government is "by the people, for the people", perhaps the real problem, is, well... people.


     


    As a whole, people are stupid and shortsighted. Name any type of government created by people that has ever been successful (not just militarily or culturally, but morally, uncorrupt, etc.) in history.


     


    ...

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