lmntary

lkrupp said:

fallenjt said:

And AAPL after hour trading drops over 1%. What kind of WS bullshit is that?

As always, Wall Street doesn’t care about what you did today, it’s about what it thinks you will do in the future. And the Covid-19 delta variant has thrown a monkey wrench into the financial crystal ball, all because 50% of the population are dumb, ignorant morons. There’s also a study out that reveals 1-in-5 believe the vaccines contain microchips. That means 20% of the population are certified idiots.

cnocbui said:

badmonk said:

cnocbui said:

Well I said it would be billions rather than SOG's ludicrous millions.

I hope the final outcome is that Apple eventually have to cough up.  They have over $200 Billion in the bank because they are worlds biggest and most effective tax avoider.  I hope this is just the start of all the other multinational tax dodgers finally getting what's coming to them.

Of course the situation Apple finds itself in is all the fault of the US government, not Ireland or the EU as it is US tax legislation that allows US companies to indefinitely defer tax repatriation while pretending to their host countries their tax is payable in the US.

What are you cnocbui?  a burrowing troll insect?  you do know Apple is the largest corporate taxpayer in the United States and has been in the top three for the last few years.

I am an Irish taxpayer who is slightly annoyed at paying tax to my government that I calculated is at an effective rate 2,226% higher than Apple does.  However, it would seem that I was being overly generous in calculating that rate as I had assumed Cook's 2% was the rate.  In 2014 Apple's tax rate was calculated by the Competition Commission at 0.005%, so that means my tax rate was actually 891,200% times higher than Apple's (why don't they just make it a million times higher just to rub it in?).  I would be happy if Apple was paying tax at the rate it should - 12.5% - even though that would still mean my effective tax rate was nearly 4 times higher than Apple's.

I don't really care what tax Apple pays in the US.  If I was a US taxpayer, I would be more concerned about the rate at which Apple was paying tax, not the dollar amount.

While slightly annoyed that you bear an admittedly onerous individual tax burden, placed on you by your sovereign, are you also somewhat appreciative that the largest hi-tech company in the world decided to repeatedly invest in your country, providing jobs, stimulating economic growth and lending Brand prestige, through a lengthy period of crisis when economy and financial future were in tatters?  Have you always resented the tax environment that attracted Apple's enormous investment there -- or do you only feel that way now?
Please understand that I don't intend for the question to sound hostile. Really just taking the temperature of a concerned party, when asked to consider the long view on this relationship between sovereign and International Corporation. If you think I have the narrative wrong, please tell.  There is much to consider and I honestly haven't yet come to my own conclusions about this ruling.