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Politics and Religion

I have to admit that I do love the move "Rudy"
St. Croix 387 reads
posted

and I do root for the Fighting Irish to beat the shit out of USC, which rarely happens. I did root for them against the Tide. I said root not bet. I'm a fan, not an idiot.

OkHereGoes2024 reads

the left peed their pants.

http://www.forbes.com/sites/connieguglielmo/2013/05/20/apple-used-loopholes-to-skip-paying-44-billion-in-u-s-taxes-senate-committee-claims/

Apple relied on a “complex web of offshore entities” and U.S. tax loopholes to avoid paying billions of dollars in U.S. taxes on $44 billion in offshore income over the past four years, according to excerpts from a Senate subcommittee report  to be released tomorrow as Apple CEO Tim Cook testifies on the company’s overseas operations.

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GaGambler358 reads

The good news is, maybe some time of agreement will be made, not just for the 102 BILLION that Apple currently has in cash offshore, but the other trillions of dollars waiting to be repatriated to this country.

Can you imagine the boon to the economy if they agreed to something like a ten or fifteen percent tax on the repatriated money? It would mean an immediate 100+ billion dollars in tax revenues and a trillion or so real dollars, not just fantasy money printed by the fed, but real dollars into this economy.

I wonder how many jobs a trillion dollars of private sector money would create? I bet it would be a hell of a lot more than the same amount spent in government "stimulus"

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St. Croix349 reads

Get ready, because here comes the pitchforks from the left. There are 2 words the article mentions multiple times. Tax LOOPHOLES and tax AVOIDANCE. At the end of the day, there is only income, tax credits and tax deductions. After that, it becomes tax fraud.

Did Apple commit tax fraud? Anybody with half a brain, and that includes the left, institutes a legal tax avoidance strategy. That's what Apple did. Apple was just taking advantage of a ridiculous and unnecessary complex tax code.

Apple just happens to be today's poster child of evil.

Now back to your original point. I think many companies would absolutely take your offer of 10-15% tax on repatriated money. There is something like $2T sitting offshore. John Chambers of Cisco basically said the same thing. Can you imagine the economic stimulus with $2T, and it doesn't cost the taxpayers one dollar.

-- Modified on 5/21/2013 7:50:04 AM

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OkHereGoes380 reads

To cut and paste his usual drivel about how the right, blah, blah.

The problem is that there are so many tax lawyers and accountants that this suggestion by GaGambler would put many high priced layers and accountants out of business.

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GaGambler388 reads

just that they can make it more beneficial to repatriate the money rather than keep it offshore, they can make it as complicated as they like as long as we get the end result.

I remember how much the Tax Reform Act of 1984 simplified the system, and I also remember how every subsequent act served to re complicate it. Kind of like breaking up ATT and then watching the pieces reassemble. Or the Standard Oil Trust, or .....Fuck the list goes on and on.

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followme355 reads

he is so predictible, both in timing and what he will say.

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marikod357 reads

Irish tax laws do not consider a corporation to be a resident for tax purposes, unless an entity is managed and controlled in Ireland. Apple set up subsidiaries in Ireland but managed them from the United States. As a result, they have not paid taxes on $74 billion in income over the last 4 years according the  WSJ.

        But you gotta love Apple. They issued a statement denying that the entities it set up in Ireland were designed to avoid taxes. So that 74 billion in tax free income was just "the luck of the Irish" I guess.

     And St. Croix told us last week that everyone hates the Irish. Boy was he wrong. I think it's fair to say that Apple loves them.

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St. Croix388 reads

and I do root for the Fighting Irish to beat the shit out of USC, which rarely happens. I did root for them against the Tide. I said root not bet. I'm a fan, not an idiot.

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GaGambler375 reads

but the fighting Irish against the Tide was a laugher, I laughed all the way to the bank, it was a great way to end the NCAA football season.

speaking of laughing, i am thinking about another trip down south, maybe next week, any takers???

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gatorjimmy356 reads

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gatorjimmy360 reads



-- Modified on 5/21/2013 8:51:03 AM

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mattradd315 reads

considered people, but was Apple running for president?

BTW. I would never vote for Romney just as I've never bought and Apple product!  ;)

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OkHereGoes374 reads

But where was the left and their outrage when John Kerry was running for President?

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mattradd349 reads

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dncphil414 reads

Amazing that GE pays so little in taxes, but the Dems never objected

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