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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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  •  The money doesn't "belong" to the (3+ / 0-)
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    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.  

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