Corporations should not be paying any taxes. Sorry for anyone who lacks the intelligence and/or education to see something so obvious.
Corporations should not be paying any taxes. Sorry for anyone who lacks the intelligence and/or education to see something so obvious.
I wish people would stop being "mad" or "love" or have any feelings whatsoever about corporations. They are just that, a legal entity. Corporations are not people. They have no allegiance to the U.S. or any country. Ultimately corporations care only about returning wealth to their shareholders. Take them for what they are.
This show trial is exactly why I voted for Ralph Nader. Just about all the Democrats in Congress support what Apple does in every way that matters. They know what they do. Many Dems signed the current corporate tax code into law. If not that than they haven't lifted a finger to change it.
The Senate hearing was just a farce to make it look like there are differences. Ultimately Senate Democrats are owned and operated by Big corporations like Apple.
Jerrican wrote:
It isn't just the rich people or big companies. Look at the special interest tax loopholes, such as the mortgage interest deduction. Why exactly should the government be subsidizing housing in this way?
People who own homes are not a special interest group.
Secondly Owning homes is actually good for the economy and actually helps create jobs.
Windfall profits for companies like Apple do not create jobs. Apple does not re-invest its massive profits in America. Much of that money is either stashed away or is invested overseas.
Oh come on. "Stashed away?" Do you think they have a really big mattress to hide it under somewhere?
The only shocking thing about this is that Macain has been in the senate for decades and it is only now that he realizes that biog corporations have been paying zero taxes for years.
Thats why I always get a chuckle when I hear right wing talking heads complaining about high corporate taxes. Its amusing.
Here is the way it is wrote:
Corporations should not be paying any taxes. Sorry for anyone who lacks the intelligence and/or education to see something so obvious.
I'm fine with eliminating corporate tax if we consider capital gains to be income and continue the progressive tax scale beyond $400,000
Nobody has ever written a check to the IRS because it was their moral duty to do so. Either it's a legal obligation or STFU. Go start a movement to increase corporate taxes if you want the law changed. But please read an economics textbook first. The vast majority of corporate taxes are just passed on to the consumer through increased prices because it's just another cost of doing business. Corporate income taxes are a joke.
Rand Paul is spot on. Who doesn't try to minimize taxes? http://www.bloomberg.com/video/paul-apple-deserves-apology-from-u-s-gov-t-F1tGWOowSvqtcr2bj1Fd9g.html
Its completely legal. It is public company's obligation to shareholders to maximize wealth, so if they can avoid taxes they do.
It would not be hard to close the loophole that is responsible for these avoidances (google irish sandwhich and double dutch arrangements. The problem is it is not that easy, as closing them might encourage American companies to move overseas, costing us even more jobs. Additionally, our financial model is forward looking and is priced on the premises that these companies continue making the same profits they are making currently. If we get rid of these loopholes, the stock market takes a HUGE hit, as do all of your 401ks.
Thusly, this will probably never change. (Luckily every shareholder pays taxes on the income they get from these corporations, so the IRS still gets theirs)
Clam Evans wrote:
Here is the way it is wrote:Corporations should not be paying any taxes. Sorry for anyone who lacks the intelligence and/or education to see something so obvious.
I'm fine with eliminating corporate tax if we consider capital gains to be income and continue the progressive tax scale beyond $400,000
Agreed on the capital gains.
Not sure how progressive you want to go but I don't disagree in principle.
Shifty Sheik wrote:
Rand Paul is spot on. Who doesn't try to minimize taxes?
http://www.bloomberg.com/video/paul-apple-deserves-apology-from-u-s-gov-t-F1tGWOowSvqtcr2bj1Fd9g.html
When isn't Rand Paul spot on?
What Apple did is tax AVOIDANCE, not evasion.
Anti-trust laws are intentionally non-objective. They exist to empower politicians to bully and harass big business for any reason they want.
Congress can burn in hell for this.
Jerrican wrote:
Windfall profits for companies like Apple do not create jobs. Apple does not re-invest its massive profits in America. Much of that money is either stashed away or is invested overseas.
"Based on a study by Analysis Group in February 2012, Apple has directly or indirectly created 307,250 U.S. jobs."
Apple's willingness to invest the capital needed to create 307,250 US jobs is a consequence of the fact that they expected to be able to keep the portion of their profits they stored overseas. This is obvious. Anti-business nihilists like you don't give a damn about the people who lose out on great job opportunities as a result of legalized extortion like this. All you want is to destroy business for the sake of the destruction, and if you take out a few million workers as collateral damage, well, that's perfectly OK with you.
marijuologist wrote:
Jerrican wrote:Windfall profits for companies like Apple do not create jobs. Apple does not re-invest its massive profits in America. Much of that money is either stashed away or is invested overseas.
"Based on a study by Analysis Group in February 2012, Apple has directly or indirectly created 307,250 U.S. jobs."
Apple's willingness to invest the capital needed to create 307,250 US jobs is a consequence of the fact that they expected to be able to keep the portion of their profits they stored overseas. This is obvious. Anti-business nihilists like you don't give a damn about the people who lose out on great job opportunities as a result of legalized extortion like this. All you want is to destroy business for the sake of the destruction, and if you take out a few million workers as collateral damage, well, that's perfectly OK with you.
That says nothing about the comparative amount of jobs that they would have created if they paid their taxes
Dabo wrote:
Its completely legal. It is public company's obligation to shareholders to maximize wealth, so if they can avoid taxes they do.
Yes, if the corporation did not do everything they could to maximize wealth they could possible be liable to lawsuits from shareholders for breach of fiduciary duty. These suits are somewhat difficult to win but certainly not impossible.
Clam Evans wrote:
That says nothing about the comparative amount of jobs that they would have created if they paid their taxes
1) They did pay their taxes you shit. "Their taxes" is the amount that the law requires them to pay, not the amount that you personally want to see them lose.
2) You have absolutely NO rational proof of your claim that they would have created more jobs if they had paid higher taxes. Keep in mind that neither unprovable social theories nor statistics purporting to demonstrate correlative relationships between income tax and unemployment rates in other countries constitute rational proof of your claim.
3) Apple has no legal nor moral obligation to create jobs. Its obligation is to make money for shareholders, and any job it creates is a means to that end. The thousands of jobs it creates are a gift to society, not the tribute it owes.
ryan foreman wrote:
Ultimately corporations care only about returning wealth to their shareholders.
LOL! No they're not. They're about maximizing CEO and management profit, providing beautiful golden parachutes when the whole scam falls apart. The shareholder? Are you kidding? No one cares about the shareholder. They may care about share price, but only if they have stock options!
iflyboats wrote:
3) Apple has no legal nor moral obligation to create jobs. Its obligation is to make money for shareholders, and any job it creates is a means to that end. The thousands of jobs it creates are a gift to society, not the tribute it owes.
That's a lot of unjustified personification of an artificial legal entity.
Apple is a corporation - a legal fiction that only exists because society passed laws that allow it to be created.
Apple's obligation to make money for shareholders is also a legal fiction that only exists because society created laws that say that's Apple's duty.
What Apple does or doesn't owe to society is also simply a matter of laws created by society to govern an artificial legal fiction.
What corporate legal obligations ought to be, tax rates ought to be, etc. is purely a matter of laws created by society.
theres a lot of talk here in ROI (ireland)about us being a tax haven or 'conduit' for tax avoidance
-re google in the UK and apple US which are both in the news
is the tax avoidance loophole down to US tax laws or is it an irish problem
i figure there's no benefit to the 'working man' that these giants build huge cash reserves right?
Here is the way it is wrote:
Corporations should not be paying any taxes. Sorry for anyone who lacks the intelligence and/or education to see something so obvious.
I must lack the intelligence. Why is it obvious corporation should not be paying any taxes? Do they not benefit from the services that such taxes pay for: infrastructure, national defense, training for their future employees through education, etc?
bulworth wrote:
training for their future employees through education, etc?
No, corporations do no benefit from the government providing training to their competitors' employees.
Business taxes are extortion, purely and simply. Nothing more than a liberal kick in the face for being successful.