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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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  •  In other words, playing Keep Away (1+ / 0-)
    Recommended by:
    Mannie

    with money that rightfully belongs to the people of this country and then demanding a tax cut to give it back.  Yeah, that's not crooked at all.

    Process defines product.

    by Troubadour on Tue May 21, 2013 at 03:26:39 PM PDT

    [ Parent ]

    •  The money doesn't "belong" to the (3+ / 0-)
      Recommended by:
      johnny wurster, VClib, Neuroptimalian

      people of the United States.  Apple is a global company. It has operations, and sells products, in countries all over the world.  What makes you think that the profits that are generated and kept in other countries "belongs" to people in this country?  Why doesn't it "belong" to the people of the country where the profits were generated?  

      In my view, as long as a company complies with tax laws the rest of the money belongs to the owners of that company -- the shareholders.  

      And, he was not "demanding" a tax cut.  He was stating a truth -- if bringing money into the United States means you have to pay 35% of it in taxes, no sane company is voluntarily going to do that.  The reality is that the United States is not going to get 35% of that money that's overseas. They are either going to get a lesser amount in taxes (i.e., lower the tax rate so that it's more attractive to bring money to the U.S.) or they are not going to get ANY of it.  

    •  Their money doesn't rightfully belong to people (3+ / 0-)
      Recommended by:
      coffeetalk, VClib, sewaneepat

      of this country. Apple paid all the taxes it owed. Blaming it for using various tricks to minimize their tax liability is about as useful as blaming people for claiming all deductions they are eligible for on their tax forms.

    •  The money belongs to Apple and its shareholders (3+ / 0-)
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      sewaneepat, nathanfl, Neuroptimalian

      there is no legal basis for a claim that it belongs to the "people of this country". This cash if from earnings outside the US.

      The officers and directors of all public companies, headquartered in the US, have a fiduciary to their shareholders to minimize their worldwide tax payments. They have no legal, moral, ethical, or patriotic duty to pay more tax to the IRS than the law requires. No one has ever said it better than Judge Learned Hand, one of the great progressives and most famous appellate judges in US legal history.

      "Anyone may arrange his affairs so that his taxes shall be as low as possible; he is not bound to choose that pattern which best pays the treasury. There is not even a patriotic duty to increase one's taxes. Over and over again the Courts have said that there is nothing sinister in so arranging affairs as to keep taxes as low as possible. Everyone does it, rich and poor alike and all do right, for nobody owes any public duty to pay more than the law demands."

      "let's talk about that"

      by VClib on Tue May 21, 2013 at 05:08:54 PM PDT

      [ Parent ]

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