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Offlinetrippn2
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Registered: 05/29/11
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Last seen: 12 years, 11 months
Apple lobbying for billions in tax loopholes
    #14530105 - 05/29/11 10:46 AM (12 years, 11 months ago)



US Uncut is getting together protests at Apple stores next weekend. Please share this.

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Offlinetrippn2
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Registered: 05/29/11
Posts: 2
Last seen: 12 years, 11 months
Re: Apple lobbying for billions in tax loopholes [Re: trippn2]
    #14530225 - 05/29/11 11:24 AM (12 years, 11 months ago)

From US Uncut's website: http://usuncut.org/targets/apple
Why Apple?

Apple plays huge games with their taxes. By disguising profits in the US as foreign earnings in low tax countries, Apple dodges billions of dollars of taxes they should be paying.

Over the last three years, Apple actually did pay some US corporate income taxes. Unlike General Electric or Pfizer or Verizon, who pay zero taxes, Apple is not a total tax sleaze.

But they’re hiding something. In fact, they're hiding a whole lot. Despite all the sales of iPads, iPhones, iTunes, iPods and iBooks in the United States, Apple says that just 13.9% of its profits were earned in the US last year. Really? We call bullshit. Apple: Leave the Tax Cheaters Coalition!

Apple is a leader of a Tax Cheaters Lobbying Group that is lobbying Congress to give tax dodgers a tax holiday. They call themselves the “Win America Campaign,” but America will lose $80 billion if they get their way.

In addition to Apple, the coalition includes other technology companies like Google, Oracle, Cisco, Microsoft and Adobe, drug giant Pfizer, and utility leaders including Duke Energy. Members of the coalition have squirreled away more than $1 trillion offshore, and want special treatment for it. When they bring this money back to the US, they want to pay just 5.25% rather than the 35% tax that is legally due when foreign earnings are brought back to the US. In total, this corporate tax bonanza could cost the US Treasury $80 billion or more. Apple’s cut of the tax dodgers' feast would be nearly $4 billion.

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OfflineSeussA
Error: divide byzero

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Registered: 04/27/01
Posts: 23,480
Loc: Caribbean
Last seen: 3 months, 8 days
Re: Apple lobbying for billions in tax loopholes [Re: trippn2]
    #14530979 - 05/29/11 11:24 AM (12 years, 11 months ago)

This thread has been closed.

Reason:
Posts containing cut-n-paste articles, or links to video, without value added discussion from the original poster will be locked.

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