Accounting & Investing Info for San Antonio A & M
Tuesday May 21 2013
Tim Cook Apple CEO is scheudled to speak on corporate tax policy today. This article shows that while paying $6 B in taxes, Apple was also creative in avoiding some taxes with tax havens around the world.
Carl Levin just does not get it, it is not his money it is Apple's.
yes it is Apple’s money but there are too many corporation like Apple that are seeking these Tax Havens for the sole purpose of avoiding paying their fair share in taxes. According to this article http://www.usatoday.com/story/money/business/2013/05/21/apple-tax-hearing/2344351/ in 2 of Apple’s offshore entities there was over 100 billion in revenue. Then Apple used a loop hole for another 44 billion, if Apple paid just 10% taxes on that income; that would be over 14 billion in taxes. By my count that puts Apple in debt to the US by 8 billion. Maybe if the government could recoup the revenue from these shady corporations they wouldn’t have to consider recouping it from government employees. I saw this documentary a couple months back pretty informative http://www.imdb.com/title/tt2124998/
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David
shady corporation? the President claims he has ‘created 6 million jobs since taking office, really, or did the economy recover despite the government’s interference and regulations
Apple just recorded its 50 BILLIONTH app download, can anyone tell me just how much commerce that created, or would you prefer to give more billions to the govt so they can increase the number on food stamps to over 50 million, I don’t think individuals on food stamps create anything, Apple has been the most innovative company in the world, If you had a choice, who would you put in charge,
Apple
or the Federal Govt with its latest round of IRS, AP, foreign policy blunders?
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Yes shady corporation. If they paid they’re fair share we; the US, may not be in this finacial crisis we are in now. Yes i know there are other contributing factors however, that does not take away from the fact that these tax havens are hurting the US and its economy just as much as the governments blunders. As far as food stamps go i utilized that assistance nearly the entire time i pursued my undergraduate degree. If i didnt have that assistance i wouldnt have been able to graduate in the time frame i did, Im sure i would still be pursuing my undergraduate. I now have my degree and am contributing to the economy 3 folds more than i was. Im sure im not the only one that can say food stamps helped them to better their lives.
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The US Official Debt it admits to is $16 trillion, Apple’s tax bill is in the single digit billions, and they did pay 6 billion, which I would think would be quite their fair share. Apple makes money for people who also pay taxes, Apple creates jobs, the Fed Govt has never created a job it just takes from those who do make money
I am glad food stamps helped you, but my point is that many on this program have no intention of using it as a temporary leg up, this is their new permanent life style. Do you really thing that 47 million are going to give that perk up? This is vote buying pure and simple by politicians.
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We as individuals pay at a minimum 10% to taxes. If you take into account all the money that Apple avoided paying taxes on, the 6 billion they did pay in taxes would be less than 5% paid to taxes. Apple is not the only corporation doing this. Last year and the year before if was Microsoft and HP that were under the microscope. Last year GE paid ZERO. If these US based corps paid their fare share the US probably wouldnt have to borrow as much from China and could reduce the dficet.An yes i agree the assistance program should be a temporary leg up. Thats why i think the GOV should limit the amount of time individuals can use the system; for starters.
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Professor Elam 
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