As Apple nears $200B in cash, U.S. Senators once again propose a repatriation tax break

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Comments

  • Reply 21 of 205
    ifij775ifij775 Posts: 470member
    This is too sensible to get passed. I bet Obama would veto it too.
  • Reply 23 of 205
    Quote:

    Originally Posted by SpamSandwich View Post

     

    Go Rand Paul!




     'Go away' more like it.

  • Reply 24 of 205
    melgross wrote: »
    Yeah, let him go to another country and stay there.

    Mr. Moderator, you must be a Socialist.
  • Reply 25 of 205
    Quote:

    Originally Posted by NasserAE View Post



    6.5% is better than zero since these companies will never bring that money back at the current rate.



    Good riddance, let them leave for good.  What we need to do is make it illegal to park your money overseas to begin with.

  • Reply 26 of 205
    melgross wrote: »
    Yeah, let him go to another country and stay there.

    Oh, Mel. Such insults are beneath you.

    And what do you say to Barbara Boxer, the other half behind this bill? I personally feel she's been a disgrace to her office, but this is the first decent thing she's backed.
  • Reply 27 of 205
    Barbara Boxer and Rand Paul actually proposing something quasi-sensible?

    One must be retiring, and the other, running for President.
  • Reply 28 of 205
    Barbara Boxer and Rand Paul actually proposing something quasi-sensible?

    One must be retiring, and the other, running for President.

    Nothing "quasi" about it. The repatriation of these billions would be like s shot of adrenaline for the economy. Rand Paul first proposed this last year (if memory serves). Good to see he's moved it forward.
  • Reply 29 of 205
    djsherlydjsherly Posts: 1,031member
    Quote:

    Originally Posted by frankie View Post

     



    Good riddance, let them leave for good.  What we need to do is make it illegal to park your money overseas to begin with.




    Yeah, it's not like these multi nationals all of a sudden realised, fark, we have to pay taxes on that money. They pay their lawyers to know the entire context under which they operate. If they choose to bring the money into the country then their profit model should accommodate the associated costs. Why are we thinking of doing these guys a big favour simply because they have lots of money. It's doing nothing useful sitting around in foreign bank account, except making more money to not repatriate.

     

    Apple for instance, pay a lot of tax in America simply by virtue of being one of the biggest company. It's nothing to bleat about - it's expected.

     

    And the whole money repatriated is invested to provide jobs is basically a load of unproven horse shit.

  • Reply 30 of 205
    Quote:

    Originally Posted by frankie View Post

     



    Good riddance, let them leave for good.  What we need to do is make it illegal to park your money overseas to begin with.




    yes- let apple and other corporations leave and take their money with them. they pay more taxes than anyone else, if you let them go to another country the U.S. will get even less money from taxes. and just out of curiosity, would you pay taxes twice?

     

    if congress was not using the tax loopholes themselves, they would have been closed by now.

     

    i am glad you are not running that country.

  • Reply 31 of 205
    wingswings Posts: 261member
    Quote:

    Originally Posted by BeltsBear View Post



    Good idea but this part sucks:



    "None of the funds would be eligible for use in executive compensation, shareholder dividends, or stock buybacks for three years after the repatriation scheme ends."



    Most shareholder dividends would be taxed a second time at minmum 15%. Why not allow that?

    Most executive compensation lands in America and is also taxed a second time, usually averaging more then 15% as well. Only stock buybacks escape secondary taxation. That is the only thing they should be worried about.



    Well, think of it this way... Apple can use the money for what is allowed, which would free up money for dividends that would otherwise be used for those things that are allowed.

  • Reply 32 of 205

    Is she crazy?! I would expect that from a Republican, but not from a progressive Democrat. Why should Apple pay less in taxes than I? Unbelievable! And, Apple should be ashamed of themselves.

     

    As others have said, they may pay their "required" tax, but they sure don't pay their "fair share" of taxes. Shame on Apple, and shame on Senator Boxer.

  • Reply 33 of 205
    justbobf wrote: »
    Is she crazy?! I would expect that from a Republican, but not from a progressive Democrat. Why should Apple pay less in taxes than I? Unbelievable! And, Apple should be ashamed of themselves.

    As others have said, they may pay their "required" tax, but they sure don't pay their "fair share" of taxes. Shame on Apple, and shame on Senator Boxer.

    So we can assume that you have never nor will you ever claim deductions when you file your taxes?

    "Fair share" is a term a jealous toddler to uses when they didn't get as big of cookie as someone else.

    The question of "fair" should really only be addressed about the government trying to control what Apple (and others) can do with the money that they have earned. Imagine the outrage if the government tried to tell normal citizens what things they can and can't spend their money on. You made 100k this year but you can't buy a new car with the money or you need to wait 3 years before you can use that money for a vacation.
  • Reply 34 of 205
    nasserae wrote: »
    6.5% is better than zero since these companies will never bring that money back at the current rate.

    It could be good only if it is forbidden to hold cash in tax heavens in the future, else it will become a popular tax evading scheme (move all overseas and wait for next tax break).
  • Reply 35 of 205
    Originally Posted by justbobf View Post

    Why should Apple pay less in taxes than I?



    You should be ashamed of yourself.



    Or really proud, since you apparently pay, what, several dozen million dollars in taxes or something.

     

    As others have said, they may pay their "required" tax, but they sure don't pay their "fair share" of taxes.


     

    Other people are wrong. How stupid can they be, really?

  • Reply 36 of 205
    richlrichl Posts: 2,213member

    Rand Paul needs to do the math. Once the US senate gives companies a temporary tax break, who is ever going to repatriate money at the normal rate ever again? They'll just argue that another tax break is due.

  • Reply 37 of 205
    feynmanfeynman Posts: 1,087member

    Apple should just buy an island to keep all it's cash there so they don't have to worry about overseas tax issues.

  • Reply 38 of 205
    steveausteveau Posts: 292member
    Great proposal, but the money should go into an interstate transportation trust fund, so it can be used for road and rail.
  • Reply 39 of 205
    crowleycrowley Posts: 10,453member
    This is an awful, short term hack and will only contribute to the problem. The fact that it's bipartisanship just proves stupidity on both sides.

    Unitary taxation. It's the only way to go. Shut this whole crooked system down for good and force repatriation at the proper rate.
  • Reply 40 of 205
    They are a bunch of corrupt looking suckers in the EU.


    Anywhere else in the world that cash hoard would be classed as 'stolen money'.
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