Really? Then by your math you win when I get special treatment and don't pay any tax because, as a consumer, I provide the commerce necessary for jobs. Let's not tax anyone and we will all be infinitely rich!
Edit: For some reason the quote wasn't included in my reply. The response is to SOG for this comment:
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Why? Would you rather have that land be vacant? Would you rather have the factory not producing ANY tax income? Or any jobs?
Its a win/win for Apple and AZ residents. More jobs, more tax revenue.
Also, in the past 20 years, the Fortune 500 has received $63 billion in tax subsidies from government. People like to talk about "barriers" to doing business in the U.S., but the reality is that there are mostly open floodgates of cash in the form of tax breaks for big business.
Just an example: Apple received $370 million in tax breaks from North Carolina for creating 50 jobs. Does that seem like a big win for North Carolina taxpayers? Or more like a meaningless giveaway?
Looking at the line in the above link in question (which is one these these 4th rate spam investor sites):
Quote:
North Carolina promised Apple up to $370 million in benefits...to build data centers in the state.
So you stated Apple got $370M for creating 50 jobs.
The article states that in fact, this was a PROMISE of an amount UP TO that (depending on requirements) to build multiple data centers in the state. The 50 jobs you pulled from your ass, so did that tweet. They may receive some portion of that, for an unknown amount of jobs. Either way, it wa an offer from the state, so obviously they believed it would be to their benefit to do so.
So Arizona just threw money at Apple for no reason?
Come on. Don't be so naive. Apple could have easily just sold the factory and moved the jobs and tax money to Texas. Apple was in no way stuck in Arizona for 20 years once the GTAT deal fell through.
I thought you followed the news, at least here at AI. Apple already committed to the data center, and already publicly annouinded. Now after-the-fact Arizona's government thinks it should toss them another tax break on top of the tax breaks they received on the land and factory deal from several months ago. Why? How would you explain the necessity to Arizona residents?
Dense? Hardly! The insult makes you look a bit silly considering the facts.
From the first paragraph:
"Apple's forthcoming "global command center" for its online operations in Mesa, Ariz., could be the beneficiary of up to 20 years' worth of tax breaks, thanks to new rules proposed by the state legislature."
Apple was already committed. They weren't going to Texas and do not need another tax break to convince them to stay. :no:
It's a"do-over" not "in addition" to the previous tax breaks.
Assuming there were no tax breaks, you think Apple would have been liable for the estimated taxes with the GTAT deal falling thru and the building not being repurposed?
Also, from the article above...
Legislators are also reportedly adjusting the energy tax breaks that were previously granted to Apple, when the facility was originally intended for producing sapphire.
Just an example: Apple received $370 million in tax breaks from North Carolina for creating 50 jobs. Does that seem like a big win for North Carolina taxpayers? Or more like a meaningless giveaway?
How much are they paying taxes over that period? How much tax revenue was the land in NC generating before Apple built the DC?
So do I. Mine tells me there's too many backroom agreements between the world's richest companies and legislators that can be bought, deals that aren't designed to benefit the public in any significant way and just serve to make the rich richer.
Your common sense seems to tell you this is all great for the public and companies simply wouldn't build or expand if they couldn't get sweetheart deals to do so. The common man should be willing, even happy, to tote the tax load for 'em.
So do I. Mine tells me there's too many backroom agreements between the world's richest companies and legislators that can be bought, deals that aren't designed to benefit the public in any significant way and just serve to make the rich richer.
Your common sense seems to tell you this is all great for the public and companies simply wouldn't build or expand if they couldn't get sweetheart deals to do so. The common man should be willing, even happy, to tote the tax load for 'em.
Nice job of avoiding the conversation of inappropriate influence peddling allowing the rich to get richer on the backs of the little guy. Kudos to the rich and make sure to keep your foot on the throats of those with lesser means while you do your cheer.
Dense? Hardly! The insult makes you look a bit silly considering the facts.
From the first paragraph:
"Apple's forthcoming "global command center" for its online operations in Mesa, Ariz., could be the beneficiary of up to 20 years' worth of tax breaks, thanks to new rules proposed by the state legislature."
Apple was already committed. They weren't going to Texas and do not need another tax break to convince them to stay. :no:
Going somewhere doesn’t mean you'll stay there. AZ is making it very lucrative for Apple to stay.
Do you seriously think Mr Cook would resort to bribery when DOZENS of towns are falling over themself for Apple to take their tax cuts? I mean seriously.
TC did however accept a bribe, because that's what tax cuts essentially are.
Hardly. I am suggesting that Apple might be using their power to squeeze more tax breaks (as tho they need 'em), in the process shifting some of their tax responsibilities onto the shoulders of those with no real influence over the Arizona legislature, like Arizona residents or small businesses
Hardly. I am suggesting that Apple is using their power to squeeze more tax breaks (as tho they need 'em), in the process shifting some of their tax responsibilities onto the shoulders of those with no real influence over the Arizona legislature, like Arizona residents or small businesses
I find it very difficult to demonize any corporation for attempting to minimize their taxes, and get tax breaks, as long as it's in the confines of the law. Especially the biggest taxpayer in the country.
Comments
Edit: For some reason the quote wasn't included in my reply. The response is to SOG for this comment:
=========
Why? Would you rather have that land be vacant? Would you rather have the factory not producing ANY tax income? Or any jobs?
Its a win/win for Apple and AZ residents. More jobs, more tax revenue.
please provide a link or it did not happen.
http://news.investors.com/ibd-editorials/053014-702871-the-dead-hand-of-crony-capitalism-exposed.htm
Also, in the past 20 years, the Fortune 500 has received $63 billion in tax subsidies from government. People like to talk about "barriers" to doing business in the U.S., but the reality is that there are mostly open floodgates of cash in the form of tax breaks for big business.
those are not legitimate links
So you're calling the Heritage Foundation liars?
http://www.washingtonpost.com/business/economy/cloud-centers-bring-high-tech-flash-but-not-many-jobs-to-beaten-down-towns/2011/11/08/gIQAccTQtN_print.html
http://www.businessinsider.com/apple-new-data-center-north-carolina-created-50-jobs-2011-11
Just an example: Apple received $370 million in tax breaks from North Carolina for creating 50 jobs. Does that seem like a big win for North Carolina taxpayers? Or more like a meaningless giveaway?
This is what you originally stated.
http://news.investors.com/ibd-editorials/053014-702871-the-dead-hand-of-crony-capitalism-exposed.htm
Looking at the line in the above link in question (which is one these these 4th rate spam investor sites):
So you stated Apple got $370M for creating 50 jobs.
The article states that in fact, this was a PROMISE of an amount UP TO that (depending on requirements) to build multiple data centers in the state. The 50 jobs you pulled from your ass, so did that tweet. They may receive some portion of that, for an unknown amount of jobs. Either way, it wa an offer from the state, so obviously they believed it would be to their benefit to do so.
Assuming there were no tax breaks, you think Apple would have been liable for the estimated taxes with the GTAT deal falling thru and the building not being repurposed?
Also, from the article above...
How much are they paying taxes over that period? How much tax revenue was the land in NC generating before Apple built the DC?
Your common sense seems to tell you this is all great for the public and companies simply wouldn't build or expand if they couldn't get sweetheart deals to do so. The common man should be willing, even happy, to tote the tax load for 'em.
...and your answer
Nice job of avoiding the conversation of inappropriate influence peddling allowing the rich to get richer on the backs of the little guy. Kudos to the rich and make sure to keep your foot on the throats of those with lesser means while you do your cheer.
It's all a game of smoke and mirrors IMHO.
Going somewhere doesn’t mean you'll stay there. AZ is making it very lucrative for Apple to stay.
please provide a link or it did not happen.
http://news.investors.com/ibd-editorials/053014-702871-the-dead-hand-of-crony-capitalism-exposed.htm
http://news.heartland.org/newspaper-article/2014/06/02/study-more-harm-good-targeted-business-incentives
TC did however accept a bribe, because that's what tax cuts essentially are.
Hardly. I am suggesting that Apple might be using their power to squeeze more tax breaks (as tho they need 'em), in the process shifting some of their tax responsibilities onto the shoulders of those with no real influence over the Arizona legislature, like Arizona residents or small businesses
Hardly. I am suggesting that Apple is using their power to squeeze more tax breaks (as tho they need 'em), in the process shifting some of their tax responsibilities onto the shoulders of those with no real influence over the Arizona legislature, like Arizona residents or small businesses
I find it very difficult to demonize any corporation for attempting to minimize their taxes, and get tax breaks, as long as it's in the confines of the law. Especially the biggest taxpayer in the country.
With a big ol' grin on my face I did.;)