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U.S. Senator 'livid' about Apple's U.S. tax dealings


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OneMoreThing...

 
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U.S. Senator 'livid' about Apple's U.S. tax dealings

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When asked about Apple's supposed "sidestepping" of U.S. tax laws, Senator Tom Colburn (R-Okla.) said that he was "livid about that" and used the company as an example of why the country needs tax reform.


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Darn right he was mad!

Only politicians and their rich friends are allowed to skip out on paying taxes.

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He's "livid" about Apple's tax dealings, but supports Romney? That's just funny.

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Cut it out guys..the problem with political jokes is they get elected!

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I completely understand why he's upset. If a US politician can't spend money, he or she quite literally has nothing to do. That cuts into job security. Then again, they spend our money whether they have it to spend or not. So, I'm not sure what the problem is. Our successors will cover the bill as we mortgage their future labor.

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I like how he's going after Apple, and not any of the numerous other companies that do the exact same thing.

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Quote:
Originally Posted by Stretch View Post
I like how he's going after Apple, and not any of the numerous other companies that do the exact same thing.
It's an election year. Neither side will be very nice, so grab some popcorn and some hip-waders. The friend of my enemy is my enemy, and whatnot...

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Please, I'm "livid" that a group of old men seems to think they have the right to decide women's contraceptive choices.
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As a US taxpayer, I'm unhappy about the tax situation in which the tremendously wealthy (be they people or entities) are evading their responsibilities. Nobody likes taxes, but if I stop paying mine, it's a pretty safe bet I'll end up in prison at some point.

And I know from having lived abroad that all income - including that earned overseas - is still subject to taxation. I see no reason why Apple or any other US-based business ought to be exempt. We know how much they earned worldwide. Send 'em a bill. Waiting for "repatriation" is a joke.
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I agree with the sentiments about corporations and tax withholding. The fact is, this could be changed if we wanted to, but it simply isn't. There are so many loopholes in the tax code for individuals and the corporations that it's easy to get by. Instead of complaining about how unfair this all is, we should be trying to find a way to either reform, overhaul or completely re-think the way this country collects taxes.

That being said, though, if you want to out econemy compete globally you have to give the corporations those breaks to keep the businesses in the US. Sure a lot of them go offshore (as Apple does) but they could be enticed to come back if the US really wanted to do so. Sadly, we don't.


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The consumer pays the corporation's taxes when all is said and done. The tax liability is factored into price, just like any smart person adds in Paypal or eBay fees when listing something for sale online. Were companies to actually pass the savings along to the consumer, I'd be happy if corporations paid no taxes on income whatsoever. Somehow, I doubt they would suddenly cut prices 28 to 35% if their tax liability disappeared overnight.

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Quote:
Originally Posted by baggss View Post
I agree with the sentiments about corporations and tax withholding. The fact is, this could be changed if we wanted to, but it simply isn't. There are so many loopholes in the tax code for individuals and the corporations that it's easy to get by. Instead of complaining about how unfair this all is, we should be trying to find a way to either reform, overhaul or completely re-think the way this country collects taxes.
The problem, as I see it anyway, is that the United States suffers from a form of bipolar disorder. Our government recognizes the very real need for to stimulate or depress various parts of our economy at different times, but the idea of the government meddling in such affairs is anathema to half our population. As a result, instead of direct, simple tax policies coupled by government action, we have the almighty "tax incentive" to encourage / coerce / beg people to do what needs to be done.

Quote:
Originally Posted by baggss View Post
That being said, though, if you want to out econemy compete globally you have to give the corporations those breaks to keep the businesses in the US. Sure a lot of them go offshore (as Apple does) but they could be enticed to come back if the US really wanted to do so. Sadly, we don't.
I disagree. The solution here isn't to jump head first into this race to the bottom. Rather, I would put forth the idea that tariffs would work more effectively to equalize the situation. If China's widgets will cost the same for their worldwide customers, whether they were built with near-slave labor or appropriately-treated and well-compensated employees, why would they not choose to improve the quality of life at home instead of letting foreign governments take that extra cash. Let's elevate China and others to our first world standards, rather than reducing ourselves to their Third World way of life.

Quote:
Originally Posted by XJ-linux View Post
The consumer pays the corporation's taxes when all is said and done. The tax liability is factored into price, just like any smart person adds in Paypal or eBay fees when listing something for sale online. Were companies to actually pass the savings along to the consumer, I'd be happy if corporations paid no taxes on income whatsoever. Somehow, I doubt they would suddenly cut prices 28 to 35% if their tax liability disappeared overnight.
I doubt they would too. In fact, there's more than enough precedent to the contrary. Just look at the music and publishing industries. How much much money is saved by electronic distribution, and yet how many works are actually commensurately cheaper? The reason typically given: lowering prices would devalue the work.
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Quote:
Originally Posted by baggss View Post
That being said, though, if you want to out econemy compete globally you have to give the corporations those breaks to keep the businesses in the US. Sure a lot of them go offshore (as Apple does) but they could be enticed to come back if the US really wanted to do so. Sadly, we don't.
All the tax breaks in the world wouldn't be enough to offset the difference between the cost of manufacturing to the standards Apple wants here and the cost of doing the same in China.
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Quote:
Originally Posted by Stretch View Post
I like how he's going after Apple, and not any of the numerous other companies that do the exact same thing.
He's going after Apple because Apple is perceived as being a company loved by the left wing populous. When president Obama brought Apple up in his last state of the union address, it officially put Apple in the crosshairs of republican officials.

I agree that Apple nor any other company nor individual should be evading taxes. Taxes suck but without them, everything falls apart.
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Quote:
Originally Posted by Shikarnov View Post
The problem, as I see it anyway, is that the United States suffers from a form of bipolar disorder. Our government recognizes the very real need for to stimulate or depress various parts of our economy at different times, but the idea of the government meddling in such affairs is anathema to half our population. As a result, instead of direct, simple tax policies coupled by government action, we have the almighty "tax incentive" to encourage / coerce / beg people to do what needs to be done.
Agreed.


Quote:
Originally Posted by Shikarnov View Post
I disagree. The solution here isn't to jump head first into this race to the bottom. Rather, I would put forth the idea that tariffs would work more effectively to equalize the situation. If China's widgets will cost the same for their worldwide customers, whether they were built with near-slave labor or appropriately-treated and well-compensated employees, why would they not choose to improve the quality of life at home instead of letting foreign governments take that extra cash. Let's elevate China and others to our first world standards, rather than reducing ourselves to their Third World way of life.
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Originally Posted by Discerptor View Post
All the tax breaks in the world wouldn't be enough to offset the difference between the cost of manufacturing to the standards Apple wants here and the cost of doing the same in China.
I'd like to see China raised to first world status but that's not going to happen anytime soon, especially with the current regime trying very hard to keep that from happening. Living with that reality means we should at least try to bring the jobs back here if we can and the best method is through tax incentives and breaks. Now, and I didn't mention this in my first post, there also needs to be changes in how unions are handled and the expectation of the best of everything for the American worker. You can have a job and decent benefits or no job and no benefits. There is a reasonable balance to be struck but corporations and unions don't seem interested in working together often times and the blame game screws everyone in the long run.



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