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Apple Biggest Tax Avoider in US, $214b in offshore accounts.

Discussion in 'Off Topic' started by 1208, Oct 6, 2016.

  1. 1208

    1208 Active Member

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  2. Lloyd

    Lloyd Active Member

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    What they have done is totally legal. Change the tax laws to allow them to repatriate this and provide jobs here!! They have an obligation to make the best monetary decisions for their shareholders and the company.

    You should be pissed at the US government who are the ones that make these transactions necessary!!
     
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  3. JohnSnowNW

    JohnSnowNW Active Member

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    Something being legal doesn't mean it's ethical. Pretty sure people are taking issue with the latter.
     
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  4. Lloyd

    Lloyd Active Member

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    The money is overseas (mostly) because of the cost (in taxes) to repatriate it. I dont think it is an unethical decision.
     
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  5. MikeC

    MikeC Active Member

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    I know what Trump would say: "It doesn't make them unethical, it makes them smart."
     
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  6. Uncle Paul

    Uncle Paul Member

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    With Elon estimating to fund the colonization of Mars, and protect the Human species at $10 Billion, it kind of puts things into perspective.

    Protect all of humanity, or avoid taxes.

    Somebody should be able to figure out what could be done to improve life on Earth as well. A tremendous amount of money, just stting on the balance of a successful enterprise.

    Hoarders and misers have rarely been looked upon so kindly as Apple has enjoyed.
     
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  7. Lloyd

    Lloyd Active Member

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    They have been a successful company building great products that lots of people buy. Would they be a better company just because their products were not quite as good, or they were not quite so successful? Regardless of the scale of the figures, you are deamonizing the company because they have done well. Misplaced IMO.
     
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  8. Uncle Paul

    Uncle Paul Member

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    Guess that my point is that while it is a great company, making tremendously desirable products, what is the highest and best use of their storehouse of profits?

    Eliminate hunger or reduce disease.
    Pave roads.
    Build hospitals.
    Pay off students loans.
    just keep it in the banks until they default.
    Give the money back to their shareholders.
    ???

    No reason to demonize the company, but all that money, just sitting in the bank does no benefit to Apple, their shareholders, the board of directors...anyone.

    Such a tremendous storehouse of funds could be used to generate a ton of good.

    While they would be under no legal pressure to do so, I am sure that it has run through the mind of Tim Cook more than once.
     
  9. Lloyd

    Lloyd Active Member

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    #9 Lloyd, Oct 6, 2016
    Last edited: Oct 6, 2016
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  10. TheTalkingMule

    TheTalkingMule Active Member

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    Apple's going to end up paying Ireland about $10B+ in "back taxes" after striking a shady deal to pay them less than 2% tax over the last few years. Why Ireland gets rewarded for being a co-conspirator is beyond me.
     
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  11. techmaven

    techmaven Active Member

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    @1208 Avoiding paying taxes is if they didn't pay their U.S. taxes on U.S. income. There's nothing that says they must repatriate profits to the U.S.

    If at some point in the future, if Tesla makes a profits from Europe, saves it up to build a plant in Asia, they are a tax avoider for not first bringing that money to the U.S.?
     
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  12. jspayneii

    jspayneii Member

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  13. PtG62901

    PtG62901 Member

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    Apple receives huge benefits from being a US based company, as do all of the other US based multinationals. I'm great with you saying it is legal, and the laws should be changed. Once you get into ethical, I think you are on shaky ground.
     
  14. jimmyjohn

    jimmyjohn Member

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    It is one of my greatest joys to hear how other people would tell me what to do with my earned capital.

    Through these people, and their beliefs, I know I will always be employed and will always earn returns on capital in excess of the risk free rate.
     
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  15. SageBrush

    SageBrush Active Member

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    #15 SageBrush, Oct 6, 2016
    Last edited: Oct 6, 2016
    Apple also pays almost no taxes on that money to the Europeans.

    They found a way to operate and not pay tax ... to anybody. Apple left the money overseas because ~ ZERO taxes overseas is more attractive than taxation on money 'repatriated.' Now ask why the Europeans are not taxing the money. That does not sound like what we know of Socialized Europe, right ?

    Part of the answer has to do with Ireland screwing the EU, but the actual loophole Apple exploited relies on Apple calling the money "made in the USA."

    So there you have it:
    Apple did not pay Ireland/EU taxes based on the argument that money is American;
    and Apple did not pay US taxes based on the argument that the money was made in the EU

    You should read the last couple of sentences a few times.
     
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  16. Vitold

    Vitold Member

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    But that's not what Apple is doing. They are shifting most of their profits to their Irish holding company which pays 2% in taxes to Ireland through special agreements. They are not paying fair share of taxes anywhere, not just USA.

    How Does Apple Avoid Taxes?
     
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  17. ShotgunF15E

    ShotgunF15E Member

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    Welcome to the global economy; deal with it.
     
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  18. TheTalkingMule

    TheTalkingMule Active Member

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    Not for very long. This is simply an adjustment period.
     
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  19. 1208

    1208 Active Member

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    The less apple pays in taxes the more you have to pay in taxes. If you like that sort of thing so be it.

    Agreed.
     
  20. brianman

    brianman Burrito Founder

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    Logical fallacy.
     
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