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View Diary: Unmitigated iGall: Apple CEO Demands Corporate Tax Cuts to Repatriate $100B in Off-Shored Wealth (140 comments)

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  •  Apple pays plenty of taxes in the US (3+ / 0-)
    Recommended by:
    sewaneepat, VClib, Odysseus

    and spends plenty of $ in the US. Like building a new, state-of-the-art headquarters,  like spending $3.3B last year on R&D, $6B of employee compensation, $15B of plant and equipment.

    Apple makes money, pays their taxes, and leaves overseas aftertax profits overseas rather than pay an additional 35% to the Treasury to bring it back. Its all legal, and just the way that Congress set it up.

    As Tim Cook said today, if Congress changed the tax landscape, they'd change too, his "desire" was for a single digit tax rate on "re-patriated" income. I bet that 10-12% would still be fine. Remove all the various tax expenditures, and lower the US rate too.

    It all sounds good, but I don't think we'll see it in our lifetime, too many companies exist solely to exploit the tax-code they wouldn't let Congress fix these problems. And, despite today's kabuki theater, Apple is NOT the most egregious example of a "tax cheat."

    If you want a posterboy for tax abuse, go look at the "financial sector" like GE, billions of dollars in profits and they don't pay any taxes.

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