Is Apple Guilty of Tax Evasion?

kch50428

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That (expletive deleted) committee ought to bring in the CEO of General Electric and force him to explain exactly how his corporation paid ZERO income taxes...
 

Jaguarr40

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No doubt and as I've maintained for quite some time, this admin wants to rid Apple of it stockpile. :)
Well if stockpile of iPads that might happen since the Turkish Prime Minister wants to buy 10.6 million was it worth of tablets for schools to be efficient. He is looking at Apple, Microsoft and Android.

[EDIT] I know everyone is talking about stockpile of money but Apple just keeps selling.
 
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Just_Me_D

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I usually consider myself fairly liberal but Congress's actions here are ridiculous. They passed the laws; Apple followed them. If they don't like them then they can try to pass laws to change them. I don't see Congress calling out Exxon (company with the largest market cap currently) over taxes. In fact, Congress gives Exxon lots of money in the form of tax subsidies.

And any public company has a fiduciary duty to try to lower their taxes within the law. I'm sure all of the S&P 500 employs similar strategies to Apple to attempt to lower their tax bill.

To me the issue with these hearings is not how much tax overall that Apple pays (we can and should as a country have a discussion about what we think corporate tax rates should be), but that they are singling out Apple for what are common practices for public companies.

Congress reminds me of taking my kids to the ice cream shop. After much deliberation, my daughter finally chooses chocolate (Congress passes tax law). She eats over half the ice cream (time passes and taxes are collected in accordance with the laws Congress passed). Then she tells me that she changed her mind and she really wants vanilla (Congress decides the tax laws are not having the intended effect) and lies down in the middle of the ice cream store and has a tantrum hoping that the public embarrassment of her tantrum will make me give in (Congress holds pointless hearings trying to shame and embarrass a company into paying more taxes than it legally owes).

'Nuf said...:D
 

Just_Me_D

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That (expletive deleted) committee ought to bring in the CEO of General Electric and force him to explain exactly how his corporation paid ZERO income taxes...

I asked this question via Twitter earlier: "Has any1 asked the people serving on the Congressional committee, questioning Tim Cook, abt the possible off-shore location of their money?"
 

Just_Me_D

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Well if stockpile of iPads that might happen since the Turkish Prime Minister wants to buy 10.6 million was it worth of tablets for schools to be efficient. He is looking at Apple, Microsoft and Android.

I hear ya...:)
 

Fausty82

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At the risk of offending some of the more liberal members here (NOT my intent - not looking to start any kind of flame war)... this is much ado about nothing ... it’s more class warfare, petty jealousy and attempted redistribution of wealth.

As others have stated, Congress has passed the laws and Apple has found a way to benefit from the existing laws. Congress' only remedies are to (1) shut the heck up or (2) change the laws.

Finally, if CON is the opposite of PRO, does that mean that CONgress is the opposite of PROgress?
 

cardfan

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At the risk of offending some of the more liberal members here (NOT my intent - not looking to start any kind of flame war)... this is much ado about nothing ... it?s more class warfare, petty jealousy and attempted redistribution of wealth.

As others have stated, Congress has passed the laws and Apple has found a way to benefit from the existing laws. Congress' only remedies are to (1) shut the heck up or (2) change the laws.

Finally, if CON is the opposite of PRO, does that mean that CONgress is the opposite of PROgress?

Yep, much ado about nothing. It's just politics. Half the senate committee is gushing over just meeting Apple with the "i so love apple" comments. The good senators all practice tax avoidance. So do most people with half a brain. Should you rent or buy a house? Buying might be better because you can deduct interest? You tax avoider you.. How immoral..lol

As Sen. Paul said, they should haul in a giant mirror if they want to get to the bottom of this :) But anyways, he's correct, just bump it down to 5% and get those funds home to be spent, used, whatever. The alternative is nothing..or less than nothing considering they won't be used here and will stay parked overseas.
 

Just_Me_D

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Don't you just love how it is considered "tax evasion" when a person or company finds a legal way to keep the money they've earned? I've heard people say, "Apple has too much money and need to give some of it back to the customers who helped them acquire that money"...Really? Are you going to give back the products you bought from Apple as well as forfeit benefits from the use of those products? How much is "too much" and who are you to decide that it is too much?
 
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Mr.Willie

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I usually consider myself fairly liberal but Congress's actions here are ridiculous. They passed the laws; Apple followed them. If they don't like them then they can try to pass laws to change them. I don't see Congress calling out Exxon (company with the largest market cap currently) over taxes. In fact, Congress gives Exxon lots of money in the form of tax subsidies.

And any public company has a fiduciary duty to try to lower their taxes within the law. I'm sure all of the S&P 500 employs similar strategies to Apple to attempt to lower their tax bill.

To me the issue with these hearings is not how much tax overall that Apple pays (we can and should as a country have a discussion about what we think corporate tax rates should be), but that they are singling out Apple for what are common practices for public companies.

Congress reminds me of taking my kids to the ice cream shop. After much deliberation, my daughter finally chooses chocolate (Congress passes tax law). She eats over half the ice cream (time passes and taxes are collected in accordance with the laws Congress passed). Then she tells me that she changed her mind and she really wants vanilla (Congress decides the tax laws are not having the intended effect) and lies down in the middle of the ice cream store and has a tantrum hoping that the public embarrassment of her tantrum will make me give in (Congress holds pointless hearings trying to shame and embarrass a company into paying more taxes than it legally owes).

A good but t whipping will put a stop to that, both children and congress.
 

BlackBerry Guy

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As a private citizen, I hire an accountant to use their knowledge to minimize the taxes I have to pay, and maximize my return. I would expect corporations to do the same thing only on a grander and more complicated scale. After all, who likes to pay one more cent of their money than they need to the government? As long as it's legal I don't see what the issue is.
 

jclisenby

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It's not taxable income in the US until the company brings it into the US. Making and keeping money offshore isn't tax evasion, it's good business practice.


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