Forum Post: Apple: made in China, untaxed profits kept offshore
Posted 12 years ago on March 19, 2012, 10:31 p.m. EST by SteveKJR
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Apple did really well this week with it's new electronimagnetic device. They made hugh profits and refuse to pay taxes on them -
69 billion that could be used to generate jobs here in the United States is being kept offshore so they don't have to pay taxes. Even if they had to pay 35% in taxes that would still leave a hugh chunk of change to create jobs over here. Not a very good reason for not paying taxes I would say.
What have all you "Apple Fans" have to say about that?
http://www.zdnet.com/blog/government/apple-made-in-china-untaxed-profits-kept-offshore/11126
How do these dirt bags sleep at night? They get the benefits of being able to sell there products here but they dont have to pay anything in return for it. Heres a link with some pretty pertinant information.
In 2004, when the U.S. enacted a repatriation tax holiday, the goal was to encourage U.S. multinationals to pay bigger cash dividends from their overseas subsidiaries and use the cash to make investments in the United States. Unfortunately, there is no evidence that it increased U.S. investment or jobs, and it cost taxpayers billions.
Its like to become a CEO of one of these big corporations requires you to be a sociopath
http://www.treasury.gov/connect/blog/Pages/Just-the-Facts-The-Costs-of-a-Repatriation-Tax-Holiday.aspx
It's true. Give them a tax holiday and they just grease the pigs with more profits. We need a government of the people and it's not going to happen by itself.
why is it do you think Apple keeps their profits off shore?
sheer greed
One mans greed is another mans practicality. Why don't you show us how it's done. Start your own company grow it like Apple - and show us how benevolent you are. Put your money where your mouth is.
Grow it like Apple by exploiting hundreds of thousands of Chinese workers and hoarding billions offshore to avoid giving back to the country that made it all possible? You sound like a toadie to the rich, bet you're hoping someday they'll let you join in the gang rape.
like I said - why don't you show us how it's done instead of criticizing everyone else.
Such an idiotic statement.
how so ?
Well, it seems to me you're questioning my right to criticize nefarious business practices because I've never...wait, you know nothing about me. But you're right, until you've run a sweatshop yourself, keep your mouth shut.
not me - you - your the one criticizing businesses. either show us how a benevolent righteous businessman operates - or keep your opinions to yourself.
You wanted to use you're, the contraction for you are, there, and again, why do I have to keep my opinions to myself? How about this--FUCK YOU.
hahaha! just what I thought hahaha!
Keep your thoughts to yourself until you have an original one. I'd love to know what "hard work" you do to "earn" your money. I bet you're creative and brilliant.
Let's see if we can get this conversation back on topic. What we're talking about is why do they keep their profits offshore. I believe it hits on exactly why the Occupy movement exists. Could Apple build their business while still making them here and paying their fair share of taxes? Probably. Why wouldn't they keep the jobs here, then? Is it greed? On the part of the company executives,maybe, but also the stockholders. The executives are paid to make the most money per share, and if they fail they are replaced. I really have a hard time being angry at either one, though, because they're just doing what they're allowed to do. If we want to be angry, be angry at our legislators who've allowed it to happen. Democrat or Republican. It doesn't matter. They caved in to pressure to open our borders to all of this cheap crap from overseas. Now the rest of us have to live with the end result. I have never understood how our Government could stand by and let our jobs disappear- then wonder why nobody can find a job.
how about the greed of the feds to Tax & regulate ? how about the greed of labor unions driving these companies out of the country? You say the stuff overseas is cheap crap but we seem to love it - thats why it continues. we affirm thaat we approve everytime we buy something made in China etc.
Oh, I agree that there's plenty of greed to go around. And yes, we are ALL part of the problem, willingly or not. It is impossible to get away from buying things from China (or Mexico, Singapore, Etc.). I am lucky to have a pretty good job and since I can afford to, I do spend the extra to buy 'Made in USA' whenever possible- always have. The problem is that with all of our jobs going away our wages will suffer(and probably already have). As our wages go down the ONLY way to maintain our standard of living is to use credit cards and such, which is just a downward spiral. As for the greed of the Unions driving these companies out of the country- the members wages of even the strongest unions PALES in comparison to the wages and perks of the executives of the same companies. Union members do well, don't get me wrong. But they are a scapegoat that these companies use to take the heat off of themselves. Bottom line is 'shits gotta change' and that's what we're here for....
Thomas Paine was a social critic. He wrote Common Sense. America is founded on that document. Criticism has its place.
absolutely. And pointing out all the flaws in your argument is part of the debate.
Income taxes are accrued when the cash is repatriated. So, Apple is deferring income taxes.
and wouldnt you do the same?
I'm no longer a fan. They cripple their employees in China, so some fat cats can make a profit. Their lack of humanity makes me want to vomit. I used to admire Apple for making a superior product. Now, I just want to see them dissolved before they develop their 666 identification strip.
What's next for Apple? Rounding up some Jews and putting them in an oven?
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You can put your money where your mouth is by not buying Apple products. Nobody says that you have to go get a new iPhone or iPad the day it comes out when your older one functions fine.
Well someone was because they sold 3 million the first day
I'm not saying there aren't 3 million idiots out there.
So how do you combat something that is damaging to society when 3 million uninformed people continue to support the destructive force?
Just not buying a product doesn't work. There needs to be other measures. It's like saying "I won't buy bonds in Syria" as a means of combating the crimes against humanity currently going on. You aren't contributing to the problem, no, but you aren't helping at all and you aren't changing anything.
One of the things that everyone must take note of is that it's the people who buy their product that put them into this position.
So, in order to change that people need to change who they buy from.
Yet, I was at an occupy rally yesterday, and I think just about everyone I seen had the new iphone. I mean, I fully agree that Apple (like thousands of other US companies) are doing the same old thing, exploiting workers for profits. I'm sort of sick of hearing about how the American people benefit from this. Sure, we have very cheap products in our stores. But it's cheap because some poor sap had to solder circuit boards together over a puddle, inhaling the toxic fumes, and polluting the water that he will eventually drink. And the worse part is that isn't even nearly the worse part. But what realistic alternatives do we have. I'm speaking in the short term of course (I mean, how do we tweet and facebook stuff without some sort of electronic device)?
If there's a philosopher out there ... this is your cue :)
people are real upset when they realize asia has been a decade ahead in electronic
Depends which part of Asia. Japan is very advanced (if you like really cool elevators), the rest of Asia, not so much, although in terms of things like broadband speeds (and other aspects of physical infrastructure), we're slacking a bit (but not something we couldn't take care fairly quickly).
Maybe we don't need to be constantly tweeting and facebooking - both forms of communication are nothing but "idle chatter" and 99.9% of the time have no value.
How about if people just have "quiet time" instead of trying to continually communicate with everyone all the time.
The rich and elite knows tax is a criminal offense and not by natural law so they do not pay tax naturally.
The Zdnet article says "Apple is worth more than Greece". Once again stupid journo needs a lesson in econ because he is comparing Apples with oranges. Apple's net worth is a stock variable (accumulated over years) while Greece's GDP is a flow variable (it changes every year). The proper comparison would have been Greece GDP with Apple's yearly revenues
Isn't Apple free to do whatever it wishes with it's cash, as long as it's legal? Why is it that you guys start asking for handouts everywhere you see some money?
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