Tuesday, May 21, 2013

Apple And Taxes - Here We Go Again

Corporations cannot pay taxes.  Only end users can pay taxes.  When you buy an Apple product, you pay all of Apple's taxes.
A report released ahead of Apple CEO Tim Cook’s inaugural Capitol Hill appearance Tuesday alleges the tech giant took advantage of numerous U.S. tax loopholes and avoided U.S. taxes on $44 billion in offshore, taxable income between 2009 and 2012 — a characterization Apple flatly rejects.

Apple follows the law on what taxes it does pay.  If Apple was obliged to pay more taxes, you would simply fork over more money to Apple who would fork it over to Uncle sam.

The congress that wrote the rules to get companies like Apple to behave the way they do now wants to punish Apple for behaving along the lines indicated by the tax code.

It has begun.  If you have a paycheck, a pension or property (such as a company) you are screwed in USA for at least the next thirty years.

Better get self-employed.

Update: While congress investigates Obama for selectivity abuse by the IRS, the Senate is grilling the Apple CEO for Apple not paying enough taxes, while GE also pays no taxes, under the same laws and the GE CEO (and Obama adviser) gets a pass.


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