Corporations recently received an absolutely gigantic tax cut from the U.S. government. If it's true that prices are based on taxes, then that gigantic cut should have resulted in a measurable plunge in consumer prices. Did it? No. It resulted in a measurable increase in profit taking and stock buybacks.
Apple is in fact the largest corporate taxpayer in the US, so this German fellow is flatly lying (and so is Rwx9001). Before the most recent US tax cut for corporations, Apple was routinely paying about 25 to 26% of its revenue in taxes in the US (It pays different rates in taxes in other countries, based on the laws and loopholes there).
I’ve noticed that since the most recent tax cuts for the rich, Apple now reports paying about 14% in taxes each quarter. Maybe that’s why you didn’t get your refund this year ... but don’t blame Apple, blame Congress. The bottom line here is that the comment by the German fellow is broadly true of a lot of corporations, but is inaccurate and off target then applied to Apple. If only he’d said Amazon…
I'm lying? Okay. And people who believe that corporations pay taxes are ignorant. The use of your spoon fed words of "tax cuts for the rich" says it all. Sorry, but it does. So because corporations paid a lower tax rate the individual taxpayer isn't getting a refund? That makes zero sense.
This article brings back memories of Kerry Packer in 1991 (head of Australian Consolidated Press & Australia's richest person) who was called before a Parliamentary Committee trying to get to the bottom of corporate tax avoidance. When Kerry was asked by a Senator about the tax practices of Australian Consolidated Press he replied ... "I don't know anybody that doesn't minimise their tax. I'm not evading tax in any way shape or form. Of course I'm minimising my tax. If anybody in this country doesn't minimise their tax they want their head read. As a Government I can tell you you're not spending it that well that we should be paying extra."
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