Skip to main content

View Diary: Apple launches iRomney (62 comments)

Comment Preferences

  •  So what happens to people stopped with.... (1+ / 0-)
    Recommended by:
    Patango

    ... a huge bag of money, and no explanation to account for it?

    Corporations are people, right?

    So NYPD.... stop and FRISK that Apple guy, he looks "sketchy".

    Confiscate the entire $102 BILLION, until they can come to court and account for it. Either pay the taxes on it, or lose it entirely.

    But having the "overseas" money safely inside a NYC bank, protected by the US ARMY, instead of some Chinese or Vietnamese, or Malaysian bank where it may or may not be "safe" requires one thing clearly missing....

    PAY YOUR FUCKING TAXES you tax cheating scumbags.

    That will be a check to the US Treasury for $35 BILLION, thank you.

    •  What law... (1+ / 0-)
      Recommended by:
      sewaneepat

      ...says that they owe taxes on that money?

      (-5.50,-6.67): Left Libertarian
      Leadership doesn't mean taking a straw poll and then just throwing up your hands. -Jyrinx

      by Sparhawk on Fri May 24, 2013 at 08:41:47 PM PDT

      [ Parent ]

      •  The Law... (0+ / 0-)

        They list it on their taxes as "permanently invested overseas", ie: in buildings and factories and real estate, and in the form of stock of foreign companies, etc.

        However, that is simply NOT TRUE. It is a lie, it is tax fraud, it is tax evasion. The money is not INVESTED nor OVERSEAS, it is sitting in a cozy, secured bank account inside the US.... aka repatriated without being admitted to as repatriated. Safe and protected by the NYPD and the US military.

        The Law says, international profits repatriated are subject to 35% income tax.

        Now, YOU, as an individual.... go right ahead and try to play some semantic games with the police after they stop you with a bag full of say $100,000. See how far you get getting your seized money back... Mr Presumed Drug Dealer. I'd like to see that, I could use a good laugh.

        So why should Apple be treated any differently than any other American People on the street?

        •  "permanently invested overseas" is an accounting (3+ / 0-)
          Recommended by:
          Sparhawk, sewaneepat, VClib

          concept, not a tax one.  The assets are owned by foreign subsidiaries, and are not subject to US tax as long as they're not invested domestically.  "Domestic investments" per the tax code (section 956, IIRC) excludes holdings in US banks, which is why they the foreign subs can have US bank accounts w/o triggering US tax.

    •  They do account for it. (3+ / 0-)
      Recommended by:
      claude, Aquarius40, VClib

      It is all reported to the IRS. They just do not owe US taxes on it.

      Changing the law is the answer. That is not Apple's responsibility. It is ours and Congress's responsibility.

      You can't scare me, I'm sticking to the Union - Woody Guthrie

      by sewaneepat on Sat May 25, 2013 at 05:01:35 AM PDT

      [ Parent ]

      •  No, they don't account for it. (0+ / 0-)

        The tax return lists it as "permanently invested overseas". Again, since when does the IRS play semantic games.

        It is in a bank in NY, but not.

        Do you understand the concept of you pay taxes to the Nation because it is your part due and payable for the benefits this society provides you as being part of it?

        Roads, rail, air, banking systems where your money doesn't get robbed, an education system to train workers to make your business possible, etc, etc.

        The money is not permanently invested overseas, the tax return is a lie, they are availing themselves of the benefit of the security of having their monies inside the US in our banking system, where no one will steal it, and at the same time saying it is NOT here and they therefore do NOT owe any taxes.

        So I say again, I'd like to see you or me or any other person in the US try the same semantic bullshit, and see how far we get with it..... bye bye money.

    •  The Jester - I don't think that anyone from Apple (0+ / 0-)

      is walking around with any company currency in their pocket.

      As johnny notes below foreign subs can have US bank accounts, but even then balance in the account isn't currency.

      Unfortunately you have no understanding of tax law or what you are writing about.

      One other item, the SCOTUS has never declared that corporations are people. What they have stated is that corporations have some of the same rights as people but the Court has clearly differentiated between corporations and "human persons".

      "let's talk about that"

      by VClib on Sat May 25, 2013 at 02:51:23 PM PDT

      [ Parent ]

Subscribe or Donate to support Daily Kos.

  • Recommended (129)
  • Community (63)
  • Bernie Sanders (44)
  • Elections (35)
  • Hillary Clinton (28)
  • 2016 (27)
  • Culture (27)
  • Climate Change (26)
  • Civil Rights (23)
  • Environment (22)
  • Science (22)
  • Labor (18)
  • Law (18)
  • Barack Obama (17)
  • Spam (17)
  • Media (17)
  • Republicans (17)
  • Trans-Pacific Partnership (15)
  • White House (14)
  • International (13)
  • Click here for the mobile view of the site