Problem here is Apple fanboys never accept anything that make Apple negative.
Apple makes recorded profits worldwide and do not want to sacrifice any for all Americans, but a certain amount of its shareholders.
This is a greed story and never be complaint by Apple fanboys. Apple should not be protected here. Let say if Microsoft do this, what will Apllefanboys say?
Hey..McCain don't you know that Apple can do no wrong here...ha ha ha
I see this was your first post here.
Have you ever heard the proverb: "It is better to remain silent and thought be thought a fool than to open one's mouth and remove all doubt." - Mark Twain
Problem here is Apple fanboys never accept anything that make Apple negative.
Apple makes recorded profits worldwide and do not want to sacrifice any for all Americans, but a certain amount of its shareholders.
This is a greed story and never be complaint by Apple fanboys. Apple should not be protected here. Let say if Microsoft do this, what will Apllefanboys say?
Hey..McCain don't you know that Apple can do no wrong here...ha ha ha
I guess you didn't actually watch the questioning or you are as dense as McCain. Apple paid tax on the money already in England, Germany France etc. then collected that money in one place, Ireland. They then invest it and pay tax in the US on the earned interest from that already taxed money. If you repeat this 100 times it might sink in. :no:
Problem here is Apple fanboys never accept anything that make Apple negative.
Apple makes recorded profits worldwide and do not want to sacrifice any for all Americans, but a certain amount of its shareholders.
This is a greed story and never be complaint by Apple fanboys. Apple should not be protected here. Let say if Microsoft do this, what will Apllefanboys say?
Hey..McCain don't you know that Apple can do no wrong here...ha ha ha
Uh, Microsoft does do this. As well HP, and several others. The problem is, they want to target the biggest US company.
Apple doesn't get around taxes. They don't owe the U.S. a dime for their over seas sales. There is no loophole to close.
Not unless Apple wants to bring that money back into the US - then it WILL be taxed. US is the only country on the planet that taxes its citizens on worldwide income - this is a restriction on our freedom to live and work abroad and an infraction to our liberty - basic tenants of our constitutional rights which is now contrarian
Bottom Line: Companies do not pay US taxes on foreign derived income as long as income stays abroad yet American taxpayers are taxed on ALL income derived WORLDWIDE.
This is a double standard
There are a few small exceptions, The UK is kind enough not to tax my pension in the UK so long as I pay it here in the USA. The UK and US have a tax treaty for such things. However I agree with you totally. It seems to me the US should move to a territorial tax system.
It is amazing to me that the 2 Senators questioning so far (Levin D MI, McCain R AZ) refuse to understand that this money was earned in foreign countriesand all taxes were paid in those countries. The fact that Apple chooses to concentrate management of the profits centrally in Ireland is for efficiency and investment leverage.
All these 2 Senators see is that there is some multi-billion dollar amount that they think that they somehow deserve to tax!
I am ashamed and embarrassed to be governed by anyone so willfully stupid and stubborn.
That is not what the Senators are alleging. They are claiming Apple funnels money out of the US in an elaborate scheme to avoid paying US taxes. Apple does do this. The problem is the government has passed these tax laws, and Apple isn't doing anything illegal.
In Levin's defense, Obama ran on a platform of closing corporate tax loop holes. The Tea Party and Libertarians, however, have filibustered or threatened to do so any meaningful tax reform.
Not unless Apple wants to bring that money back into the US - then it WILL be taxed. US is the only country on the planet that taxes its citizens on worldwide income - this is a restriction on our freedom to live and work abroad and an infraction to our liberty - basic tenants of our constitutional rights which is now contrarian
That is BS. Companies like Apple love to claim they are international companies, yet they want to use the resources of the US overseas. The US supports a huge and expensive diplomatic net around the world that regular US citizens rarely benefit from, but companies like Apple do. If Apple wants to bring its foreign earnings back home, it should pay some to the tax man so it fairly contributes to US diplomatic efforts Apple clearly benefits from.
Moreover, Apple is moving money that it earned in the US to overseas to avoid taxes, and then is complaining that it can't move it back without paying taxes. This, however, is the government's fault.
Gosh I would love if Steve could run into the hearings and, in a way he interrupted that actor that staged him at one of famous keynotes, stop one of the senators and begin to explain why all those claims are nonsense!
It is amazing to me that the 2 Senators questioning so far (Levin D MI, McCain R AZ) refuse to understand that this money was earned in foreign countries and all taxes were paid in those countries. The fact that Apple chooses to concentrate management of the profits centrally in Ireland is for efficiency and investment leverage.
All these 2 Senators see is that there is some multi-billion dollar amount that they think that they somehow deserve to tax!
I am ashamed and embarrassed to be governed by anyone so willfully stupid and stubborn.
Well, legally, a corporation, in the US at least, as an entity, has standing similar to that of a person. US citizens residing abroad and working abroad and taxed in their country of residence are expected to pay individual income tax in the US as well. So, it's not totally out in left field that a US corporation would be expected to do the same, although, that's not what the law currently says. It should at least be consistent, but it's not the craziest mess of tax law that exists. (For instance, if you and your spouse live in New Jersey and one of you works in New Jersey and the other in New York City, New York City expects you to pay city income tax on your combined income, despite the fact that neither of you resides there and one of you doesn't earn any income there.)
The "willfully stupid and stubborn" part of this exercise is that they pretend not to know what the tax laws of this country are. The scarier, and possibly likely, alternative is that they really don't.
Amazon is allowed to SELL products TAX FREE to US customers.
So where is the real problem?
They don't collect sales tax from the buyer while serving as an "agent" for some States, tho they do for others. Even when they do not it doesn't relieve the purchaser from their sales tax obligations as it was never a tax on Amazon. That's not anything to do with their corporate taxes on profits in any case.
Amazon is allowed to SELL products TAX FREE to US customers.
So where is the real problem?
The last I checked, the federal government does not collect a sales tax. Amazon has to collect a state sales tax for places it has a physical residence. For everybody else, it is their responsibility to pay the sales tax.
I agree with you TBell - perhaps you misinterpreted my point - companies like Apple use existing loopholes to benefit for shareholders - they are doing nothing illegal but this is WHY exactly we need reform.
The US government is so messed up that this tax reform will not happen - its been talked about my entire life.....
Moreover, Apple is moving money that it earned in the US to overseas to avoid taxes, and then is complaining that it can't move it back without paying taxes. This, however, is the government's fault.
Citation please?
Edit: Tim Cook testified. under oath that Apple did not do this... Did he lie? If so, likely, he is in contempt of Congress, and, likely, breaking some IRS and SEC regulations!
The "willfully stupid and stubborn" part of this exercise is that they pretend not to know what the tax laws of this country are. The scarier, and possibly likely, alternative is that they really don't.
I scared with you.
I feel McCain especially, and most senators in general, are sock puppets with Corporate(WallStreet) America's hand up their arse, moving their lips. From Keating to now, He's been in the pockets of money and the GOP smoke filled room... his 'maverickism' purely a smoke screen for the times he was left to think on his own... any time he want's to move up, he aligns with the 'master'
I truly feel there is a script master behind the scenes driving every word and every crisis, often to distract from the real issues (benghazi, IRS, AP... vs wall street cronyism, healthcare and real gov't economic reform), to hide the mass migration of money to a very select and silent few, and the kabuki that goes on in senate chambers just drives public opinion away from the true enemies of free enterprise and democracy, the plutocracy.
Comments
Quote:
Originally Posted by Bangkokkian
Problem here is Apple fanboys never accept anything that make Apple negative.
Apple makes recorded profits worldwide and do not want to sacrifice any for all Americans, but a certain amount of its shareholders.
This is a greed story and never be complaint by Apple fanboys. Apple should not be protected here. Let say if Microsoft do this, what will Apllefanboys say?
Hey..McCain don't you know that Apple can do no wrong here...ha ha ha
I see this was your first post here.
Have you ever heard the proverb: "It is better to remain silent and thought be thought a fool than to open one's mouth and remove all doubt." - Mark Twain
You might consider that before your 2nd post.
I guess you didn't actually watch the questioning or you are as dense as McCain. Apple paid tax on the money already in England, Germany France etc. then collected that money in one place, Ireland. They then invest it and pay tax in the US on the earned interest from that already taxed money. If you repeat this 100 times it might sink in. :no:
Quote:
Originally Posted by Bangkokkian
Problem here is Apple fanboys never accept anything that make Apple negative.
Apple makes recorded profits worldwide and do not want to sacrifice any for all Americans, but a certain amount of its shareholders.
This is a greed story and never be complaint by Apple fanboys. Apple should not be protected here. Let say if Microsoft do this, what will Apllefanboys say?
Hey..McCain don't you know that Apple can do no wrong here...ha ha ha
Uh, Microsoft does do this. As well HP, and several others. The problem is, they want to target the biggest US company.
http://www.businessinsider.com/apple-google-microsoft-coca-cola-taxes-cash-offshore-2013-5
Quote:
Originally Posted by jd_in_sb
Apple doesn't get around taxes. They don't owe the U.S. a dime for their over seas sales. There is no loophole to close.
Not unless Apple wants to bring that money back into the US - then it WILL be taxed. US is the only country on the planet that taxes its citizens on worldwide income - this is a restriction on our freedom to live and work abroad and an infraction to our liberty - basic tenants of our constitutional rights which is now contrarian
There are a few small exceptions, The UK is kind enough not to tax my pension in the UK so long as I pay it here in the USA. The UK and US have a tax treaty for such things. However I agree with you totally. It seems to me the US should move to a territorial tax system.
Quote:
Originally Posted by Dick Applebaum
It is amazing to me that the 2 Senators questioning so far (Levin D MI, McCain R AZ) refuse to understand that this money was earned in foreign countries and all taxes were paid in those countries. The fact that Apple chooses to concentrate management of the profits centrally in Ireland is for efficiency and investment leverage.
All these 2 Senators see is that there is some multi-billion dollar amount that they think that they somehow deserve to tax!
I am ashamed and embarrassed to be governed by anyone so willfully stupid and stubborn.
That is not what the Senators are alleging. They are claiming Apple funnels money out of the US in an elaborate scheme to avoid paying US taxes. Apple does do this. The problem is the government has passed these tax laws, and Apple isn't doing anything illegal.
In Levin's defense, Obama ran on a platform of closing corporate tax loop holes. The Tea Party and Libertarians, however, have filibustered or threatened to do so any meaningful tax reform.
So where is the real problem?
So where is the real problem?
Excellent point!
Quote:
Originally Posted by eat@me
Not unless Apple wants to bring that money back into the US - then it WILL be taxed. US is the only country on the planet that taxes its citizens on worldwide income - this is a restriction on our freedom to live and work abroad and an infraction to our liberty - basic tenants of our constitutional rights which is now contrarian
That is BS. Companies like Apple love to claim they are international companies, yet they want to use the resources of the US overseas. The US supports a huge and expensive diplomatic net around the world that regular US citizens rarely benefit from, but companies like Apple do. If Apple wants to bring its foreign earnings back home, it should pay some to the tax man so it fairly contributes to US diplomatic efforts Apple clearly benefits from.
Moreover, Apple is moving money that it earned in the US to overseas to avoid taxes, and then is complaining that it can't move it back without paying taxes. This, however, is the government's fault.
Quote:
Originally Posted by Dick Applebaum
It is amazing to me that the 2 Senators questioning so far (Levin D MI, McCain R AZ) refuse to understand that this money was earned in foreign countries and all taxes were paid in those countries. The fact that Apple chooses to concentrate management of the profits centrally in Ireland is for efficiency and investment leverage.
All these 2 Senators see is that there is some multi-billion dollar amount that they think that they somehow deserve to tax!
I am ashamed and embarrassed to be governed by anyone so willfully stupid and stubborn.
Well, legally, a corporation, in the US at least, as an entity, has standing similar to that of a person. US citizens residing abroad and working abroad and taxed in their country of residence are expected to pay individual income tax in the US as well. So, it's not totally out in left field that a US corporation would be expected to do the same, although, that's not what the law currently says. It should at least be consistent, but it's not the craziest mess of tax law that exists. (For instance, if you and your spouse live in New Jersey and one of you works in New Jersey and the other in New York City, New York City expects you to pay city income tax on your combined income, despite the fact that neither of you resides there and one of you doesn't earn any income there.)
The "willfully stupid and stubborn" part of this exercise is that they pretend not to know what the tax laws of this country are. The scarier, and possibly likely, alternative is that they really don't.
Quote:
Originally Posted by Winnie
Amazon is allowed to SELL products TAX FREE to US customers.
So where is the real problem?
They don't collect sales tax from the buyer while serving as an "agent" for some States, tho they do for others. Even when they do not it doesn't relieve the purchaser from their sales tax obligations as it was never a tax on Amazon. That's not anything to do with their corporate taxes on profits in any case.
Quote:
Originally Posted by Winnie
Amazon is allowed to SELL products TAX FREE to US customers.
So where is the real problem?
The last I checked, the federal government does not collect a sales tax. Amazon has to collect a state sales tax for places it has a physical residence. For everybody else, it is their responsibility to pay the sales tax.
Originally Posted by 2oh1
I love Apple. I've been a diehard Apple fan since the days of the Quadra. But…
No one cares. Your argument is invalid.
Quote:
Originally Posted by Brunzilla
Uh, Microsoft does do this. As well HP, and several others. The problem is, they want to target highlight the numbers for the biggest US company.
http://www.businessinsider.com/apple-google-microsoft-coca-cola-taxes-cash-offshore-2013-5
I agree with you TBell - perhaps you misinterpreted my point - companies like Apple use existing loopholes to benefit for shareholders - they are doing nothing illegal but this is WHY exactly we need reform.
The US government is so messed up that this tax reform will not happen - its been talked about my entire life.....
Quote:
Originally Posted by Apple ][
Rand Paul seems to be one of the few politicians with any common sense, at least in this case.
Like his father, Rand has moments of libertarian lucidity. Either that, or Rand was handed a wad of iPad 5s in unmarked envelopes last night;-)
Quote:
Originally Posted by anonymouse
The "willfully stupid and stubborn" part of this exercise is that they pretend not to know what the tax laws of this country are. The scarier, and possibly likely, alternative is that they really don't.
I scared with you.
I feel McCain especially, and most senators in general, are sock puppets with Corporate(WallStreet) America's hand up their arse, moving their lips. From Keating to now, He's been in the pockets of money and the GOP smoke filled room... his 'maverickism' purely a smoke screen for the times he was left to think on his own... any time he want's to move up, he aligns with the 'master'
I truly feel there is a script master behind the scenes driving every word and every crisis, often to distract from the real issues (benghazi, IRS, AP... vs wall street cronyism, healthcare and real gov't economic reform), to hide the mass migration of money to a very select and silent few, and the kabuki that goes on in senate chambers just drives public opinion away from the true enemies of free enterprise and democracy, the plutocracy.