The CEO of Apple today will put his tail between his legs, which Steve Jobs never did, and testify before a Senate committee. They are expected to ask him about why Apple did not pay taxes that it was not obligated to pay.
The U.S. government expected to get its bite out of Apple, right down to the core. But Apple had set up a company in Ireland. It avoided U.S. taxes.
It had lots of other arrangements to avoid taxes. It hired tax lawyers to accomplish this.
Yes, my friends: tax lawyers! These are people who show rich corporations how to avoid paying taxes legally.
What is this nation coming to?
Congress is outraged. The arrogance of this! Not paying taxes that the U.S. tax code does not require Apple to pay. Senator Carl Levin spoke for Congress when he said, and I quote, “You can’t justify this kind of profit shifting with [these] kind of gimmicks.” Gimmicks, my friends. Apple used gimmicks. Tax lawyers went to the U.S. tax code that Congress had voted into law, and found . . . gimmicks!
This has to stop. It has to stop now.
Fortunately, the company’s executives are learning. Under Jobs, Apple spent only about $2 million a year on lobbying. That has to stop. It is time for Apple to do what other corporations do: pay its fair share of lobbying expenses. There are PACs to be funded, Congressmen to be placated. Business Week explains: “It’s stepping up its presence in the capital to avoid misfortunes such as the antitrust probes that afflicted Microsoft and Mountain View, California-based Google as they grew.”
So, Apple may yet become the faithful American corporation that Congress has come to expect.
The bite in the company’s logo will grow.
Well no wonder that Apple stock is so valuable…they have not been paying their taxes and Obama said that was just OK.
if they were not paying their taxes, they would be in jail. because idiots make the tax laws and people are then excused from paying some, is not part of the problems, the law makers are. Only an idiot would pay in more then required, so the federal government could continue throwing it away, because they are addicted to spending. Rod Luke.
Right! And what can Apple say? You have a law that excuses us from your tax. Thank you
It's a shakedown. Corporations should not be paying taxes anyway, it's not a human being. If all taxes were placed on human beings and not 'legal entities', nobody could escape the tax, as all the company profits would fall to the stock holders, and they would be subject to the tax. The tax laws were setup to give them these loopholes, but when you don't pay the politicians enough of your 'profits', they will shake you down.
Like I said Shane, Steve Jobs is much more innovative than NASA. NASA sure can spend $44 billion, but they can't save it and make it slip through Uncle Sam's grasping fingers.
Just like the Obama WH employees, Turbo Tax Gietner, and the IRS employees. And for NASA ,now that they have to slow down and share with O,s Muslim friends, the World will be back in the Dark Ages before they can start to progress forward again at any noticeable rate. If O was not giving our tax money away to our enemies faster than he can find ways to steal it from us, he wouldn't need to shake down every US company and Citizen.
LOL. NASA isn't in the business of saving money. They spend money and get results. Apple is a corporation using lobbyists to game the system and shell corporations in other countries to hide their money. And what good is that hidden money going to do anyone, even Apple? Absolutely nothing. It sits there and rots, just like a real apple.
It's pretty disgusting how you all favor zero taxes, but how do you expect a government to continue to keep up the roads you use, or pay the firefighters, police and ambulance services you use, or provide the clean water you drink without taxes? It's impossible. And no, you can't expect everyone to hire their own private everything to compensate. That's just ignorant and selfish.
BTW, Steve Jobs is dead. Can't escape that no matter how much money you have.
"NASA isn't in the business of saving money. They spend money"
This is true.
"and get results."
This is not.
"Apple is a corporation using lobbyists to game the system and shell corporations in other countries to hide their money. And what good is that hidden money going to do anyone, even Apple?"
It sits in bank accounts and other short-term securities earning interest, and making money available for loans in local areas. These loans can help small businesses thrive in those areas.
"Absolutely nothing. It sits there and rots, just like a real apple."
Smile, digital currency does not rot Shane. Your ignorance of economics and finance is stupendous.
"It's pretty disgusting how you all favor zero taxes,"
Shane is actually disgusted that every time he tries to fight me, I defeat him back to silence by eviscerating his errors and exposing his ignorance.
"how do you expect a government to continue to keep up the roads you use, or pay the firefighters, police and ambulance services you use"
Boo-hoo for Shane, apparently he has never heard of private roads, private firefighters, private police and private ambulance services, all of which exist.
"provide the clean water you drink without taxes? It's impossible."
Haha, my government water is riddled with germs and toxins, but I spent my own money for some excellent filters to get clean water into my home. Wrong yet again Shane.
" And no, you can't expect everyone to hire their own private everything to compensate. That's just ignorant"
Nothing stops people from pooling their money and hiring people to do the same jobs you want government to do Shane. For you to claim otherwise is ignorant.
" and selfish."
Notice how Shane has utterly failed to prove anyone advocating low taxes is selfish. That is because he cannot.
"BTW, Steve Jobs is dead."
Yes, I had to remind you of that fact when you laughably claimed Apple's stock dropping was proof NASA was more creative than Steve Jobs. I had to remind you the stock dropped after he died.