Ok, I'm an Apple fan and stockholder but 0.005% on profits is rediculus.
If you're an AAPL stockholder, then ZERO taxes is the goal.
As a APPL shareholder, I want the next generation of Apple workers in Ireland to get a good education first. That's not going to happen if corporations use loopholes to pay virtually zero tax. I want APPL to succeed through being the best technology company on the planet rather than through financial trickery.
Since I don't know where you are located I can't say for sure but most US states rely primarily on state and local taxes for education, not US federal dollars. True there are federally funded programs (free lunch & breakfast to needy, No Child Left Behind,...) but the primary source of funding is the State and local taxes.
Xbit's current place of residence is irrelevant. He'she was referring to Ireland (which is not in the USA).
Ok, I'm an Apple fan and stockholder but 0.005% on profits is rediculus.
If you're an AAPL stockholder, then ZERO taxes is the goal.
As a APPL shareholder, I want the next generation of Apple workers in Ireland to get a good education first. That's not going to happen if corporations use loopholes to pay virtually zero tax. I want APPL to succeed through being the best technology company on the planet rather than through financial trickery.
Since I don't know where you are located I can't say for sure but most US states rely primarily on state and local taxes for education, not US federal dollars. True there are federally funded programs (free lunch & breakfast to needy, No Child Left Behind,...) but the primary source of funding is the State and local taxes.
I'm based in the UK but that's as irrelevant as how education is funded in the US. We're talking about Apple's Ireland-based staff here. The primary source of education funding in Ireland is via central funds distributed to local educational authorities.
Ok, I'm an Apple fan and stockholder but 0.005% on profits is rediculus.
...until they repatriate. That's the other part -- the idea is corp pays the local tax rate, and then pays the rest to their home government when they repatriate the money. The loop hole is, there is no requirement on *when* they have to repatriate it. Thus Apple's cash hoard is overseas, waiting to be repatriated when they feel it's a good time to do so.
Ok, I'm an Apple fan and stockholder but 0.005% on profits is rediculus.
If you're an AAPL stockholder, then ZERO taxes is the goal.
As a APPL shareholder, I want the next generation of Apple workers in Ireland to get a good education first. That's not going to happen if corporations use loopholes to pay virtually zero tax. I want APPL to succeed through being the best technology company on the planet rather than through financial trickery.
Living, breathing people who work for Apple receive a salary (and they are also probably legally required by the Irish government to include other mandatory benefits). That's all they are owed. Apple's tax rates have nothing to do with the compensation those employees are receiving as a result of their employment.
Ok, I'm an Apple fan and stockholder but 0.005% on profits is rediculus.
If you're an AAPL stockholder, then ZERO taxes is the goal.
As a APPL shareholder, I want the next generation of Apple workers in Ireland to get a good education first. That's not going to happen if corporations use loopholes to pay virtually zero tax. I want APPL to succeed through being the best technology company on the planet rather than through financial trickery.
Living, breathing people who work for Apple receive a salary (and they are also probably legally required by the Irish government to include other mandatory benefits). That's all they are owed. Apple's tax rates have nothing to do with the compensation those employees are receiving as a result of their employment.
Oh, so income taxes should be increased to subsidise foreign firms?
By that reasoning, it would be perfectly acceptable for a Chinese firm to open a coal fired power station that sells electricity to the UK. They employ 100 people, those 100 employees pay a total of 40,000 Euro in income tax. The environmental/other costs of the power station are 1m Euro per year. Oh well, I guess that the Irish state will just have to increase income tax to fund the short fall.
Yes, it is a clumsy example but businesses consume resources that have to be funded through taxation.
Ok, I'm an Apple fan and stockholder but 0.005% on profits is rediculus.
If you're an AAPL stockholder, then ZERO taxes is the goal.
As a APPL shareholder, I want the next generation of Apple workers in Ireland to get a good education first. That's not going to happen if corporations use loopholes to pay virtually zero tax. I want APPL to succeed through being the best technology company on the planet rather than through financial trickery.
Living, breathing people who work for Apple receive a salary (and they are also probably legally required by the Irish government to include other mandatory benefits). That's all they are owed. Apple's tax rates have nothing to do with the compensation those employees are receiving as a result of their employment.
Oh, so income taxes should be increased to subsidise foreign firms?
By that reasoning, it would be perfectly acceptable for a Chinese firm to open a coal fired power station that sells electricity to the UK. They employ 100 people, those 100 employees pay a total of 40,000 Euro in income tax. The environmental/other costs of the power station are 1m Euro per year. Oh well, I guess that the Irish state will just have to increase income tax to fund the short fall.
Yes, it is a clumsy example but businesses consume resources that have to be funded through taxation.
1) I can't imagine a reasonable scenario where 100 people can run an entire power station that burns coal or one that can feasible send power from China to the UK, but if the free market ever makes that feasible—or any power transfer from halfway around the world—then let the market decide.
2) The point is that Ireland isn't hurt by Apple doing business in Ireland. Jobs are created, other businesses thrive because of their existence, and there are taxes paid to Ireland which help further. Obviously if Apple paid even more money it would help Ireland more, but Ireland wants these companies there paying something over not being there at all, so allowance are made.
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My understanding, anyway.
By that reasoning, it would be perfectly acceptable for a Chinese firm to open a coal fired power station that sells electricity to the UK. They employ 100 people, those 100 employees pay a total of 40,000 Euro in income tax. The environmental/other costs of the power station are 1m Euro per year. Oh well, I guess that the Irish state will just have to increase income tax to fund the short fall.
Yes, it is a clumsy example but businesses consume resources that have to be funded through taxation.
2) The point is that Ireland isn't hurt by Apple doing business in Ireland. Jobs are created, other businesses thrive because of their existence, and there are taxes paid to Ireland which help further. Obviously if Apple paid even more money it would help Ireland more, but Ireland wants these companies there paying something over not being there at all, so allowance are made.