- Last Active
sog35 said:spice-boy said:The last "tax holiday" was granted by the US in 2004 for multinational companies. The rate was heavily reduced to a mere 5.25%. I as a small business owner pay about 35% on my profits. Corporations like Apple expect another Reparation tax holiday sooner or later so there is little incentive to bring this money back to the US until Congress caves in. How did this all happen? Well look at the people we citizen elect to political office, who funds their campaigns, who are they in debt to when the get into office? It is not the US citizen but these huge corporations. Laws are written to make these tax havens possible as a pay back for a cushy seat in Congress. Are corporations like Apple breaking the law? Not as the law is written. Is Apple morally wrong for taking advantage of these laws? Yes. Tax breaks and incentives were originally designed to help small to large businesses grow and have positive impact on a local or regional area. These incentives often have time limits unlike these tax haven laws. I am a big fan of Apple's products and services and have been for decades but don't let you love admiration of this company blind you to the fact they are positioned as many huge international corporations above the tax laws most citizens must follow.
But Apple also has operations in other countries like China, Japan, and Europe. In those countries Apple pays all the taxes that are earned on profits in THOSE countries. In China they pay about a 15% corporate tax. So why should Apple pay the USA DOUBLE TAX on income EARNED in China? It makes ZERO sense. There is no logical reason why Apple needs to pay the FULL TAX BURDEN of China profits and then pay tax again in the USA. Profits generated and EARNED in China have no business being taxed in the USA.
When the tax holiday happenned those corporations were not paying a 5% tax on USA profits. They were paying a 5% tax IN ADDITION to the foreign taxes they ALREADY PAID. So Apple would have paid 15% taxes on China generated profits and then an ADDITIONAL 5% tax to the US government for the right to bring the cash back into the USA.
Basically you have a very shallow understanding of US and foreign tax laws.
Anyone who thinks any of these multi-billion $ corps actually pays 35% in taxes is either lying on purpose or ignorant.
wood1208 said:This is how China has screwed American and other companies. Low tech, let general Chinese companies copy and high end tech, government inspired hack and steal to handover to their high tech companies copy. No matter which way you look at, you are screwed in China.
China hasn't screwed Americans companies, American companies have screwed Americans.
odysseus1923 said:Siri is useless, it doesn't understand simple tasks. I just tested it trying to send an email to myself and it failed to recognise or understand what I was saying in order to complete the request, Google's voice recognition system is miles ahead. Apple need to get of their lazy arse and get on with it as this is becoming a major component of tech.
We are in a race to the bottom as the richest companies will just keep moving for no taxes, buying our politicians, and turning us all into slaves.
Bottom line, just pay your freaking taxes like the rest of us.
Corporations buying gov't and then hoarding the cash overseas needs to end right now for everyone.
I love Apple but they have how much $180 BILLION stashed there? Come the )@(*# on when is enough enough?