World governments 'moving fast' to overhaul taxes for tech giants

Posted:
in General Discussion
A consortium of 137 countries has agreed to revamp tax rules to close decades-old loopholes for multinational corporations. It's prompted by the rise of digital firms but Apple, for one, has been a vocal supporter of reform.

Apple's Champs-Elysees store in Paris, the city where this week's OECD talks have been held
Apple's Champs-Elysees store in Paris, the city where this week's OECD talks have been held


The Organization for Economic Cooperation and Development (OECD) has announced that officials from 137 governments have agreed to launch new negotiations that will potentially see international tax laws radically revamped.

Current tax laws have not been substantially changed in decades, but the enormous rise of digital firms has put the system under pressure. When the tax laws were created, they were founded on the assumption that multinational firms would have a physical presence in each territory where they operated.

With digital firms, this is no longer true and it's created loopholes. Corporations can choose to pay tax through any country where they do have an office, so they can also elect to pick the country with the lowest tax fees.

Apple, although a vocal supporter of tax reform, has benefited from this too, with its European operation effectively being taxed as if it's all going through the company's offices in Ireland.

While that specific example has resulted in Apple becoming embroiled in legal dispute with the European Union, Tim Cook has recently been promoting tax reform of the type now proposed.

"I think logically everybody knows it needs to be rehauled, I would certainly be the last person to say that the current system or the past system was the perfect system," said Cook before today's news. "I'm hopeful and optimistic that [the OECD] will find something."

Now, according to Reuters, the OECD has gathered enough support at its Paris talks to announce the group proposals.

Pressure to reform the tax system has been growing so much that countries such as France have introduced or proposed their own reforms rather than wait for consensus. These moves, though, have added to what the OECD sees as a need for urgent negotiations.

"It's moving fast because what is at stake is a massive trade war," Pascal Saint-Amans, OECD head of tax policy, told Reuters. "This is what we see on a daily basis with the interaction between France and the U.S. and with the interaction between the U.S and the countries that have said they would launch digital services taxes."

France has decided to postpone its new digital tax while the French and US governments are in trade discussions. That truce will continue to the end of 2020.

It's not yet known when the OECD believes governments can agree and implement reforms.
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Comments

  • Reply 1 of 31
    It's a welcome change, sure you can decry all these companies, but if they're following the "rules", then it's the rules that need to change. Otherwise each company is arbitrarily making up their own ideas for whom they should be paying tax. And let's be frank, all of these countries want reasons for the tax to land in their pocket rather, so without clarity there will always be conflicts in interpretation, these rules need to come the top.
    razorpitseanjGeorgeBMac
  • Reply 2 of 31
    spice-boyspice-boy Posts: 1,446member
    About time. Most of the world's wealth goes to the top tier of these companies. Funding of politicians who have created tax laws which legally get these corporations pay little to zero tax (Amazon) on their vast income. This has to stop. We all pay taxes somewhere between 20-40% because taxes keep our society, cities, and states going. This fall look carefully at your state and city elected officials and their voting history in regards to giving the wealthiest Americans a free pass on April 15th. Your burden will be lighter if tax laws were fair and the wealthiest will still be plenty wealthy but you children will have better schools. 
    mariowincomuthuk_vanalingamviclauyycGeorgeBMacdysamoria
  • Reply 3 of 31
    Rayz2016Rayz2016 Posts: 6,957member
    spice-boy said:
    About time. Most of the world's wealth goes to the top tier of these companies. Funding of politicians who have created tax laws which legally get these corporations pay little to zero tax (Amazon) on their vast income. This has to stop. We all pay taxes somewhere between 20-40% because taxes keep our society, cities, and states going. This fall look carefully at your state and city elected officials and their voting history in regards to giving the wealthiest Americans a free pass on April 15th. Your burden will be lighter if tax laws were fair and the wealthiest will still be plenty wealthy but you children will have better schools. 
    And lets not forget the UK Conservative politicians who make use of the same loopholes, while tutting at the likes of Starbucks, Amazon, Google and Apple.
    spice-boy
  • Reply 4 of 31
    Great! Does that mean people will pay less in taxes now that tech companies are paying more?
    razorpitcat52
  • Reply 5 of 31
    gatorguygatorguy Posts: 23,321member
    The US is still pushing for "safe harbor" policies, tho they are stopping short of defining precisely what that means. It will make talks a lot tougher and take much longer.  It is entirely possible that the US and EU will fail to come to an agreement and they go their own way at implementing a digital tax on Apple and Google and Amazon et.al. apart from a worldwide policy stance on sales of hard goods, profits, and tax obligations by way of intellectual property transfers.  
    edited January 2020 muthuk_vanalingam
  • Reply 6 of 31
    razorpitrazorpit Posts: 1,796member
    Rayz2016 said:
    spice-boy said:
    About time. Most of the world's wealth goes to the top tier of these companies. Funding of politicians who have created tax laws which legally get these corporations pay little to zero tax (Amazon) on their vast income. This has to stop. We all pay taxes somewhere between 20-40% because taxes keep our society, cities, and states going. This fall look carefully at your state and city elected officials and their voting history in regards to giving the wealthiest Americans a free pass on April 15th. Your burden will be lighter if tax laws were fair and the wealthiest will still be plenty wealthy but you children will have better schools. 
    And lets not forget the UK Conservative politicians who make use of the same loopholes, while tutting at the likes of Starbucks, Amazon, Google and Apple.
    And the UK Liberal politicians who do the same.

    Great! Does that mean people will pay less in taxes now that tech companies are paying more?
    We all know the answer to that one.

    Call me crazy but how about we just have a consumption tax? The more you consume the more you pay. No loopholes. No bureaucrats to 'manage' the complex tax laws. No accountants creatively figure out ways around the complex tax laws, and no lawyers to defend them when they do.

    Too simple?
    cat52
  • Reply 7 of 31
    gatorguygatorguy Posts: 23,321member
    razorpit said:
    Rayz2016 said:
    spice-boy said:
    About time. Most of the world's wealth goes to the top tier of these companies. Funding of politicians who have created tax laws which legally get these corporations pay little to zero tax (Amazon) on their vast income. This has to stop. We all pay taxes somewhere between 20-40% because taxes keep our society, cities, and states going. This fall look carefully at your state and city elected officials and their voting history in regards to giving the wealthiest Americans a free pass on April 15th. Your burden will be lighter if tax laws were fair and the wealthiest will still be plenty wealthy but you children will have better schools. 
    And lets not forget the UK Conservative politicians who make use of the same loopholes, while tutting at the likes of Starbucks, Amazon, Google and Apple.
    And the UK Liberal politicians who do the same.

    Great! Does that mean people will pay less in taxes now that tech companies are paying more?
    We all know the answer to that one.

    Call me crazy but how about we just have a consumption tax? The more you consume the more you pay. No loopholes. No bureaucrats to 'manage' the complex tax laws. No accountants creatively figure out ways around the complex tax laws, and no lawyers to defend them when they do.

    Too simple?
    Yes too simple IMO. The poor and middle class will pay the lion's share of taxes while the rich and ultra-rich will largely avoid taxes altogether, relatively speaking. Yet another regressive tax on top of existing ones like sales tax and property tax. Those have no relationship between income and taxes, and a consumption tax wouldn't either.  

    I suppose if you advocate the rich getting richer it sounds like a perfect plan. 
    edited January 2020 muthuk_vanalingamStrangeDaysspice-boyroundaboutnowGeorgeBMac
  • Reply 8 of 31
    It's a welcome change, sure you can decry all these companies, but if they're following the "rules", then it's the rules that need to change. Otherwise each company is arbitrarily making up their own ideas for whom they should be paying tax. And let's be frank, all of these countries want reasons for the tax to land in their pocket rather, so without clarity there will always be conflicts in interpretation, these rules need to come the top.
    I want to have an important part of my huge salary as waiter in a restaurant taxed in Ireland as I’ve come up with my dream job idea in a pub in Dublin. But the taxman does not accept my BEPS argument. Sad, but the law is not equal for all.
    FileMakerFeller
  • Reply 9 of 31
    Yawn. Wake me up when it happens.

    (Just a lot of bogus noise. If cross-border coordination on taxes was easy to get done, it would have been done already. Even an economic common area such as the EU cannot get it done.)
    muthuk_vanalingamviclauyyccat52
  • Reply 10 of 31

    Great! Does that mean people will pay less in taxes now that tech companies are paying more?
    Good luck. The people who decide to impose more taxes.... want more taxes, not less.
    muthuk_vanalingamcat52
  • Reply 11 of 31
    spice-boyspice-boy Posts: 1,446member
    razorpit said:
    Rayz2016 said:
    spice-boy said:
    About time. Most of the world's wealth goes to the top tier of these companies. Funding of politicians who have created tax laws which legally get these corporations pay little to zero tax (Amazon) on their vast income. This has to stop. We all pay taxes somewhere between 20-40% because taxes keep our society, cities, and states going. This fall look carefully at your state and city elected officials and their voting history in regards to giving the wealthiest Americans a free pass on April 15th. Your burden will be lighter if tax laws were fair and the wealthiest will still be plenty wealthy but you children will have better schools. 
    And lets not forget the UK Conservative politicians who make use of the same loopholes, while tutting at the likes of Starbucks, Amazon, Google and Apple.
    And the UK Liberal politicians who do the same.

    Great! Does that mean people will pay less in taxes now that tech companies are paying more?
    We all know the answer to that one.

    Call me crazy but how about we just have a consumption tax? The more you consume the more you pay. No loopholes. No bureaucrats to 'manage' the complex tax laws. No accountants creatively figure out ways around the complex tax laws, and no lawyers to defend them when they do.

    Too simple?
    you are talking about sales tax which already exists. Super rich have ways around that too, I know because my business supplies to their suppliers and shipping out of the state of sale eliminates that tax. 

    Income tax has been around 100 years and is one of the biggest contributor to the raise in the quality of life for most Americans. 
  • Reply 12 of 31
    StrangeDaysStrangeDays Posts: 11,862member
    gatorguy said:
    razorpit said:
    Rayz2016 said:
    spice-boy said:
    About time. Most of the world's wealth goes to the top tier of these companies. Funding of politicians who have created tax laws which legally get these corporations pay little to zero tax (Amazon) on their vast income. This has to stop. We all pay taxes somewhere between 20-40% because taxes keep our society, cities, and states going. This fall look carefully at your state and city elected officials and their voting history in regards to giving the wealthiest Americans a free pass on April 15th. Your burden will be lighter if tax laws were fair and the wealthiest will still be plenty wealthy but you children will have better schools. 
    And lets not forget the UK Conservative politicians who make use of the same loopholes, while tutting at the likes of Starbucks, Amazon, Google and Apple.
    And the UK Liberal politicians who do the same.

    Great! Does that mean people will pay less in taxes now that tech companies are paying more?
    We all know the answer to that one.

    Call me crazy but how about we just have a consumption tax? The more you consume the more you pay. No loopholes. No bureaucrats to 'manage' the complex tax laws. No accountants creatively figure out ways around the complex tax laws, and no lawyers to defend them when they do.

    Too simple?
    Yes too simple IMO. The poor and middle class will pay the lion's share of taxes while the rich and ultra-rich will largely avoid taxes altogether, relatively speaking. Yet another regressive tax on top of existing ones like sales tax and property tax. There is no relationship between income and taxes. 

    I suppose if you advocate the rich getting richer it sounds like a perfect plan. 
    Agreed; in such a scenario those who have to spend more of their income on essential consumption pay an unfair tax burden ratio compared to the wealthy who do not live so close to the wire. Not a good idea and has been debunked.
    muthuk_vanalingam
  • Reply 13 of 31
    designrdesignr Posts: 622member
    spice-boy said:
    razorpit said:
    Rayz2016 said:
    spice-boy said:
    About time. Most of the world's wealth goes to the top tier of these companies. Funding of politicians who have created tax laws which legally get these corporations pay little to zero tax (Amazon) on their vast income. This has to stop. We all pay taxes somewhere between 20-40% because taxes keep our society, cities, and states going. This fall look carefully at your state and city elected officials and their voting history in regards to giving the wealthiest Americans a free pass on April 15th. Your burden will be lighter if tax laws were fair and the wealthiest will still be plenty wealthy but you children will have better schools. 
    And lets not forget the UK Conservative politicians who make use of the same loopholes, while tutting at the likes of Starbucks, Amazon, Google and Apple.
    And the UK Liberal politicians who do the same.

    Great! Does that mean people will pay less in taxes now that tech companies are paying more?
    We all know the answer to that one.

    Call me crazy but how about we just have a consumption tax? The more you consume the more you pay. No loopholes. No bureaucrats to 'manage' the complex tax laws. No accountants creatively figure out ways around the complex tax laws, and no lawyers to defend them when they do.

    Too simple?
    Income tax has been around 100 years and is one of the biggest contributor to the raise in the quality of life for most Americans. 
    :lol: You sound like you actually believe that to be true.  :#
    cat52
  • Reply 14 of 31
    razorpitrazorpit Posts: 1,796member
    gatorguy said:
    razorpit said:
    Rayz2016 said:
    spice-boy said:
    About time. Most of the world's wealth goes to the top tier of these companies. Funding of politicians who have created tax laws which legally get these corporations pay little to zero tax (Amazon) on their vast income. This has to stop. We all pay taxes somewhere between 20-40% because taxes keep our society, cities, and states going. This fall look carefully at your state and city elected officials and their voting history in regards to giving the wealthiest Americans a free pass on April 15th. Your burden will be lighter if tax laws were fair and the wealthiest will still be plenty wealthy but you children will have better schools. 
    And lets not forget the UK Conservative politicians who make use of the same loopholes, while tutting at the likes of Starbucks, Amazon, Google and Apple.
    And the UK Liberal politicians who do the same.

    Great! Does that mean people will pay less in taxes now that tech companies are paying more?
    We all know the answer to that one.

    Call me crazy but how about we just have a consumption tax? The more you consume the more you pay. No loopholes. No bureaucrats to 'manage' the complex tax laws. No accountants creatively figure out ways around the complex tax laws, and no lawyers to defend them when they do.

    Too simple?
    Yes too simple IMO. The poor and middle class will pay the lion's share of taxes while the rich and ultra-rich will largely avoid taxes altogether, relatively speaking. Yet another regressive tax on top of existing ones like sales tax and property tax. Those have no relationship between income and taxes, and a consumption tax wouldn't either.  

    I suppose if you advocate the rich getting richer it sounds like a perfect plan. 
    Yep I'm all for people keeping their own hard owned money. I guess that makes me part of the evil rich. Look the poor are poor. They don't consume. Therefore their taxes will be considerably lower than people who have money and spend it.

    spice-boy
    said:
    razorpit said:
    Rayz2016 said:
    spice-boy said:
    About time. Most of the world's wealth goes to the top tier of these companies. Funding of politicians who have created tax laws which legally get these corporations pay little to zero tax (Amazon) on their vast income. This has to stop. We all pay taxes somewhere between 20-40% because taxes keep our society, cities, and states going. This fall look carefully at your state and city elected officials and their voting history in regards to giving the wealthiest Americans a free pass on April 15th. Your burden will be lighter if tax laws were fair and the wealthiest will still be plenty wealthy but you children will have better schools. 
    And lets not forget the UK Conservative politicians who make use of the same loopholes, while tutting at the likes of Starbucks, Amazon, Google and Apple.
    And the UK Liberal politicians who do the same.

    Great! Does that mean people will pay less in taxes now that tech companies are paying more?
    We all know the answer to that one.

    Call me crazy but how about we just have a consumption tax? The more you consume the more you pay. No loopholes. No bureaucrats to 'manage' the complex tax laws. No accountants creatively figure out ways around the complex tax laws, and no lawyers to defend them when they do.

    Too simple?
    you are talking about sales tax which already exists. Super rich have ways around that too, I know because my business supplies to their suppliers and shipping out of the state of sale eliminates that tax. 

    Income tax has been around 100 years and is one of the biggest contributor to the raise in the quality of life for most Americans. 
    Not if the consumption tax (not sales tax) is applied unilaterally. EVERYONE pays no matter where they buy.

    StrangeDays
    said:
    gatorguy said:
    razorpit said:
    Rayz2016 said:
    spice-boy said:
    About time. Most of the world's wealth goes to the top tier of these companies. Funding of politicians who have created tax laws which legally get these corporations pay little to zero tax (Amazon) on their vast income. This has to stop. We all pay taxes somewhere between 20-40% because taxes keep our society, cities, and states going. This fall look carefully at your state and city elected officials and their voting history in regards to giving the wealthiest Americans a free pass on April 15th. Your burden will be lighter if tax laws were fair and the wealthiest will still be plenty wealthy but you children will have better schools. 
    And lets not forget the UK Conservative politicians who make use of the same loopholes, while tutting at the likes of Starbucks, Amazon, Google and Apple.
    And the UK Liberal politicians who do the same.

    Great! Does that mean people will pay less in taxes now that tech companies are paying more?
    We all know the answer to that one.

    Call me crazy but how about we just have a consumption tax? The more you consume the more you pay. No loopholes. No bureaucrats to 'manage' the complex tax laws. No accountants creatively figure out ways around the complex tax laws, and no lawyers to defend them when they do.

    Too simple?
    Yes too simple IMO. The poor and middle class will pay the lion's share of taxes while the rich and ultra-rich will largely avoid taxes altogether, relatively speaking. Yet another regressive tax on top of existing ones like sales tax and property tax. There is no relationship between income and taxes. 

    I suppose if you advocate the rich getting richer it sounds like a perfect plan. 
    Agreed; in such a scenario those who have to spend more of their income on essential consumption pay an unfair tax burden ratio compared to the wealthy who do not live so close to the wire. Not a good idea and has been debunked.
    There are people who debunk the iPhone. Does that mean Apple should cancel it? This is the beauty of the consumption tax. You don't purchaser anything you don't pay a tax. Perfect idea because now EVERYONE pays and no one doesn't. Now that EVERYONE pays EVERYONE will start paying attention to how government spends the money it collects.

    Why is this so hard for socialists/communists to figure out?
    edited January 2020 cat52
  • Reply 15 of 31
    Taxing intangible digital assets is an unconscionable abuse of taxing authority. There are no real-world negative consequences attached to such transactions. It’s governments extracting revenue to keep their own worthless butts employed.
    anantksundaramcat52designr
  • Reply 16 of 31
    spice-boyspice-boy Posts: 1,446member
    designr said:
    spice-boy said:
    razorpit said:
    Rayz2016 said:
    spice-boy said:
    About time. Most of the world's wealth goes to the top tier of these companies. Funding of politicians who have created tax laws which legally get these corporations pay little to zero tax (Amazon) on their vast income. This has to stop. We all pay taxes somewhere between 20-40% because taxes keep our society, cities, and states going. This fall look carefully at your state and city elected officials and their voting history in regards to giving the wealthiest Americans a free pass on April 15th. Your burden will be lighter if tax laws were fair and the wealthiest will still be plenty wealthy but you children will have better schools. 
    And lets not forget the UK Conservative politicians who make use of the same loopholes, while tutting at the likes of Starbucks, Amazon, Google and Apple.
    And the UK Liberal politicians who do the same.

    Great! Does that mean people will pay less in taxes now that tech companies are paying more?
    We all know the answer to that one.

    Call me crazy but how about we just have a consumption tax? The more you consume the more you pay. No loopholes. No bureaucrats to 'manage' the complex tax laws. No accountants creatively figure out ways around the complex tax laws, and no lawyers to defend them when they do.

    Too simple?
    Income tax has been around 100 years and is one of the biggest contributor to the raise in the quality of life for most Americans. 
    :lol: You sound like you actually believe that to be true.  :#
    Please do some research before making a dismissive comment like that. The lol is on you.
  • Reply 17 of 31
    spice-boyspice-boy Posts: 1,446member

    razorpit said:
    gatorguy said:
    razorpit said:
    Rayz2016 said:
    spice-boy said:
    About time. Most of the world's wealth goes to the top tier of these companies. Funding of politicians who have created tax laws which legally get these corporations pay little to zero tax (Amazon) on their vast income. This has to stop. We all pay taxes somewhere between 20-40% because taxes keep our society, cities, and states going. This fall look carefully at your state and city elected officials and their voting history in regards to giving the wealthiest Americans a free pass on April 15th. Your burden will be lighter if tax laws were fair and the wealthiest will still be plenty wealthy but you children will have better schools. 
    And lets not forget the UK Conservative politicians who make use of the same loopholes, while tutting at the likes of Starbucks, Amazon, Google and Apple.
    And the UK Liberal politicians who do the same.

    Great! Does that mean people will pay less in taxes now that tech companies are paying more?
    We all know the answer to that one.

    Call me crazy but how about we just have a consumption tax? The more you consume the more you pay. No loopholes. No bureaucrats to 'manage' the complex tax laws. No accountants creatively figure out ways around the complex tax laws, and no lawyers to defend them when they do.

    Too simple?
    Yes too simple IMO. The poor and middle class will pay the lion's share of taxes while the rich and ultra-rich will largely avoid taxes altogether, relatively speaking. Yet another regressive tax on top of existing ones like sales tax and property tax. Those have no relationship between income and taxes, and a consumption tax wouldn't either.  

    I suppose if you advocate the rich getting richer it sounds like a perfect plan. 
    Yep I'm all for people keeping their own hard owned money. I guess that makes me part of the evil rich. Look the poor are poor. They don't consume. Therefore their taxes will be considerably lower than people who have money and spend it.

    spice-boy
    said:
    razorpit said:
    Rayz2016 said:
    spice-boy said:
    About time. Most of the world's wealth goes to the top tier of these companies. Funding of politicians who have created tax laws which legally get these corporations pay little to zero tax (Amazon) on their vast income. This has to stop. We all pay taxes somewhere between 20-40% because taxes keep our society, cities, and states going. This fall look carefully at your state and city elected officials and their voting history in regards to giving the wealthiest Americans a free pass on April 15th. Your burden will be lighter if tax laws were fair and the wealthiest will still be plenty wealthy but you children will have better schools. 
    And lets not forget the UK Conservative politicians who make use of the same loopholes, while tutting at the likes of Starbucks, Amazon, Google and Apple.
    And the UK Liberal politicians who do the same.

    Great! Does that mean people will pay less in taxes now that tech companies are paying more?
    We all know the answer to that one.

    Call me crazy but how about we just have a consumption tax? The more you consume the more you pay. No loopholes. No bureaucrats to 'manage' the complex tax laws. No accountants creatively figure out ways around the complex tax laws, and no lawyers to defend them when they do.

    Too simple?
    you are talking about sales tax which already exists. Super rich have ways around that too, I know because my business supplies to their suppliers and shipping out of the state of sale eliminates that tax. 

    Income tax has been around 100 years and is one of the biggest contributor to the raise in the quality of life for most Americans. 
    Not if the consumption tax (not sales tax) is applied unilaterally. EVERYONE pays no matter where they buy.

    StrangeDays
    said:
    gatorguy said:
    razorpit said:
    Rayz2016 said:
    spice-boy said:
    About time. Most of the world's wealth goes to the top tier of these companies. Funding of politicians who have created tax laws which legally get these corporations pay little to zero tax (Amazon) on their vast income. This has to stop. We all pay taxes somewhere between 20-40% because taxes keep our society, cities, and states going. This fall look carefully at your state and city elected officials and their voting history in regards to giving the wealthiest Americans a free pass on April 15th. Your burden will be lighter if tax laws were fair and the wealthiest will still be plenty wealthy but you children will have better schools. 
    And lets not forget the UK Conservative politicians who make use of the same loopholes, while tutting at the likes of Starbucks, Amazon, Google and Apple.
    And the UK Liberal politicians who do the same.

    Great! Does that mean people will pay less in taxes now that tech companies are paying more?
    We all know the answer to that one.

    Call me crazy but how about we just have a consumption tax? The more you consume the more you pay. No loopholes. No bureaucrats to 'manage' the complex tax laws. No accountants creatively figure out ways around the complex tax laws, and no lawyers to defend them when they do.

    Too simple?
    Yes too simple IMO. The poor and middle class will pay the lion's share of taxes while the rich and ultra-rich will largely avoid taxes altogether, relatively speaking. Yet another regressive tax on top of existing ones like sales tax and property tax. There is no relationship between income and taxes. 

    I suppose if you advocate the rich getting richer it sounds like a perfect plan. 
    Agreed; in such a scenario those who have to spend more of their income on essential consumption pay an unfair tax burden ratio compared to the wealthy who do not live so close to the wire. Not a good idea and has been debunked.
    There are people who debunk the iPhone. Does that mean Apple should cancel it? This is the beauty of the consumption tax. You don't purchaser anything you don't pay a tax. Perfect idea because now EVERYONE pays and no one doesn't. Now that EVERYONE pays EVERYONE will start paying attention to how government spends the money it collects.

    Why is this so hard for socialists/communists to figure out?
    Please provide the definition of what socialism is? Is Social Security socialism? Do you plan on being a socialist when you retire and get you benefits? Is social security a good or bad thing? You throw around terms you that have no clue to their real world meaning. 
  • Reply 18 of 31
    wizard69wizard69 Posts: 13,377member
    spice-boy said:
    About time. Most of the world's wealth goes to the top tier of these companies. Funding of politicians who have created tax laws which legally get these corporations pay little to zero tax (Amazon) on their vast income. This has to stop. We all pay taxes somewhere between 20-40% because taxes keep our society, cities, and states going. This fall look carefully at your state and city elected officials and their voting history in regards to giving the wealthiest Americans a free pass on April 15th. Your burden will be lighter if tax laws were fair and the wealthiest will still be plenty wealthy but you children will have better schools. 

    while I would love to see tax reform the problem is nobody running for office gives a damn!!!!   Sure we have people that want to destroy Apple and other big firms for no apparent reason but the majority of the front runners simply are not people you could trust even if they won.   Case in point Congress is democratically controlled right now and they do everything possible to deflect focus on any sort of reform.   In fact the focus on Trump seems to be engineered to minimize and attempt to actually do their job.

    So who should we vote for?   I'm not seeing a lot of good in the current line up of candidates!

    As for Apple I actually think Cook is misguided here.    You give government a blank check and they will take everything possible.   Sometimes you need to stand up and fight to protect your flank.   A prime example here is the lack of reaction to E. Warrens drive to break up the company.

    cat52
  • Reply 19 of 31
    wizard69wizard69 Posts: 13,377member
    Great! Does that mean people will pay less in taxes now that tech companies are paying more?

    not a chance!   At least not in the USA.   Deficit spending has resulted in huge liabilities, if any thing your tax rate will need to go up.   This especially the case if some of the social programs suggested by the more liberal parties end up becoming reality.   We really need a cut in social spending of at least 75% to balance out the spending vs income.
    cat52razorpit
  • Reply 20 of 31
    wizard69wizard69 Posts: 13,377member
    spice-boy said:


    Income tax has been around 100 years and is one of the biggest contributor to the raise in the quality of life for most Americans. 
    I'd like to see how you have come to the conclusion.   Income Tax largely raises the quality of life for the special interests and the lazy.  

    SpamSandwichcat52designrrazorpit
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