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Loopholes allowed Apple (AAPL) to avoid $44B in U.S. taxes from 2009-2012, claims a Senate...

Loopholes allowed Apple (AAPL) to avoid $44B in U.S. taxes from 2009-2012, claims a Senate report released shortly after Apple's official statement. Though peers have also been accused of using offshore havens, the report argues Apple went further by creating a subsidiary (responsible for ~1/3 of profits from 2009-11) that used differences in U.S. and Irish law to have no residence whatsoever. Sen. Carl Levin calls this "the Holy Grail of tax avoidance." Also, while Apple claims $6B in FY12 federal tax payments, the report claims the real number is $2.4B if one backs out deferred payments on foreign cash (only paid if/when the cash is repatriated).
Comments (73)
  • u01bsb0
    , contributor
    Comments (617) | Send Message
     
    loop holes allowed pretty much all MNCs to to avoid much of their tax bill..

     

    Amazon, Google, Facebook, Starbucks all use transfer pricing with foreign subsidies to avoid tax too, to name a few more.
    20 May 2013, 07:12 PM Reply Like
  • u01bsb0
    , contributor
    Comments (617) | Send Message
     
    also, the Governments make the law, instead of moaning about it why don't they change it..the companies are not going to change the law for them.
    20 May 2013, 07:55 PM Reply Like
  • dgy
    , contributor
    Comments (83) | Send Message
     
    Most large-scale companies I've worked for do this.
    20 May 2013, 08:57 PM Reply Like
  • imac007
    , contributor
    Comments (441) | Send Message
     
    The govt is greedy. They tax profits by corporations, then if the owners (shareholders), want to put it in their bank, as dividends, they want to tax it again. If they would let the cash come home, as dividends, then the shareholders would be taxed on it. Plus the average shareholder is more likely to spend it, which drives the wheels of the economy. REIT's and Royalty Trusts basically work that way already. By being greedy up front the govt. is missing out on the exponential tax benefit that comes from consumer spending.

     

    Just further proof that trickle down economics is a FAIL. Low corporate taxes and austerity lead to outsourcing and M&A. Putting money in the corporate coffers with the idea that they will expand and create jobs only works in an expanding economy and sectors. Without consumer spending, the most common way to expand is through M&A. M&A activity causes job losses through discovered synergies. Without economic growth the most common way businesses improve the bottom line is through cost cutting and/or margin expansion. That often means exporting jobs overseas. The govt needs the money working in consumer hands not the government or corporate hands.
    20 May 2013, 09:24 PM Reply Like
  • hahaha48
    , contributor
    Comments (1034) | Send Message
     
    corporations do not have a lot of employees in Ireland to take advantage of the tax loophole. Actually not much job is really related to tax avoidance.
    20 May 2013, 07:30 PM Reply Like
  • Tokamak
    , contributor
    Comments (112) | Send Message
     
    Lol! Senate report describing loopholes that corporations are taking advantage of---hilarious!

     

    Apple and every other global corporation should stand up before Congress and call a duck a duck. Something to the effect of:

     

    "Congressmen, these loopholes were bought and paid for by us and our lobbyists. If you don't like them anymore, or want to end them, then please kindly give us back the money we PAID you for them. And by the way, please don't come knocking on our door for money next election cycle.".

     

    Doesn't that about cover it?

     

    By the way, in all my years as an ERP consultant, never once have I seen a corporation make a hiring decision based on "tax liability". It's always been about top line expansion. That's how you manage organizational growth which then leads to hiring. Tax liability is a treasury and cash management function. Congress doesn't have a clue how to govern a country let alone what is good for business and society.
    20 May 2013, 07:31 PM Reply Like
  • ConservativeOutperformer
    , contributor
    Comments (541) | Send Message
     
    Awesome, especially the hiring part........
    20 May 2013, 07:43 PM Reply Like
  • bootneck
    , contributor
    Comments (2) | Send Message
     
    Brilliant!
    20 May 2013, 11:02 PM Reply Like
  • redarrow5150
    , contributor
    Comments (993) | Send Message
     
    I can see it now...the AFLAC duck making an appearance before Congress.

     

    Senator...Tax Loop Holes

     

    Duck...AFLAC
    21 May 2013, 12:05 AM Reply Like
  • Uncle Pie
    , contributor
    Comments (2694) | Send Message
     
    We are shocked, shocked, shocked to learn that corporations are taking advantage of the tax loopholes that corporate lobbyists devised and which were passed by our inept politicians! Imagine that!
    20 May 2013, 07:33 PM Reply Like
  • Pts117
    , contributor
    Comments (178) | Send Message
     
    another sensationalist without a clue... this "loophole" is in the irish tax code, not the US tax code...
    21 May 2013, 01:57 AM Reply Like
  • milehr
    , contributor
    Comments (475) | Send Message
     
    Is iPhone among approved obamaphone types? Probably not. So, why should Apple subsidize its competitors?
    20 May 2013, 07:36 PM Reply Like
  • redarrow5150
    , contributor
    Comments (993) | Send Message
     
    I really don't give a shit if liberal, conservative or socialist companies have to pay their fair share. Heck you don't think Apple and other companies are getting tax breaks not only by local governments but foreign as well? I'm not saying we should tax them to death but there's a lot of grey area when GE doesn't pay any corporate taxes. The financial burden of taxes has swung decidedly toward individuals paying more these last few years and it's time for these companies to do the same.
    20 May 2013, 07:37 PM Reply Like
  • Pts117
    , contributor
    Comments (178) | Send Message
     
    you have no idea what you are talking about
    21 May 2013, 01:58 AM Reply Like
  • MajorDude
    , contributor
    Comments (252) | Send Message
     
    There is no grey area.

     

    The law is very specific about taxes and when you owe them.

     

    If you buy a house on credit, you can deduct what you pay in interest against your gross income. That's not a loophole or a "tax-avoidance scheme." It's the law.

     

    The laws are created by Congress not only to raise revenue, but to encourage/discourage certain kinds of behavior. This has been going on at least since The New Deal.

     

    Government has responsibilities to its citizens. Corporations serve only shareholders, employees and customers.

     

    Government has failed miserably to protect us against a speculative financial system and to encourage industrial development in this country. It has propped up expensive and archaic institutions like the postal system. It has allowed outright frauds like Enron and Bernie Madoff to continue even when the evidence was placed squarely in front of their faces.

     

    Apple has made millions of customers happy, employed tens of thousands of Americans in lucrative jobs, paid tens of billions of dollars in taxes as a corporate entity and paid billions more through their employees and their shareholders. They have followed the very specific laws that Congress has set down.

     

    If the rules are bad, blame the people who wrote them, not the people who follow them.
    21 May 2013, 05:58 AM Reply Like
  • SoldHigh
    , contributor
    Comments (1001) | Send Message
     
    Funny... the crooked politicians allow themselves to be bribed by the companies' lobbyists, then the crooked politicians whine about the loopholes they themselves put into the bills.
    20 May 2013, 07:43 PM Reply Like
  • Jake2992
    , contributor
    Comments (825) | Send Message
     
    To be fair, Senator Levin hasn't voted for tax loopholes.

     

    He, as well as many other Democrats, have been the only voices in congress to consistently fight against this type of tax abuse.

     

    You can't say the same about Republicans who have been on a spending spree the last 30 years cutting taxes for the people who stuff their pockets with campaign donations.
    20 May 2013, 10:34 PM Reply Like
  • justaminute
    , contributor
    Comments (581) | Send Message
     
    Thanks, Jake - your post made me smile.
    20 May 2013, 10:56 PM Reply Like
  • tjmxxx
    , contributor
    Comments (96) | Send Message
     
    I am glad for Apple, it is your patriotic duty to avoid paying as much tax as possible. The founding fathers would be horrified with this tax system, there was no provision for it. I would far rather Apple keep their hard earned money, then give it to the career prostitutes and whores in Washington, to keep throwing down federal rat holes!
    20 May 2013, 07:44 PM Reply Like
  • redarrow5150
    , contributor
    Comments (993) | Send Message
     
    Founding fathers would be horrified? Based on what? I don't recall the Boston Tea Party being about corporations paying too much in taxes. To say this is non-sense considering that our country back then was one of an agricultural society. No pun intended but apples and oranges.
    20 May 2013, 07:55 PM Reply Like
  • Sirvasq
    , contributor
    Comments (295) | Send Message
     
    Read the facts: $AAPL paid 2.5% of all US corporate taxes last year and will pay another $1B this year. http://bit.ly/163zjjD

     

    Shame on McCain and the other sub-committee members for doing nothing to aid the success of the #1 company in the world and now sticking their hand out.
    20 May 2013, 07:45 PM Reply Like
  • redarrow5150
    , contributor
    Comments (993) | Send Message
     
    Funny no mention of tax breaks that Apple is receiving here in the U.S. I would've read more but got tired of reading a press release for promotional purposes.
    20 May 2013, 08:00 PM Reply Like
  • WmInce
    , contributor
    Comments (72) | Send Message
     
    Know the laws.
    Follow the laws.
    Use the laws to your advantage.
    20 May 2013, 08:03 PM Reply Like
  • rlbeard
    , contributor
    Comments (66) | Send Message
     
    watch stupid democrats try to make it worse, they will change the laws so the corporations move more of their headquarters to other countries, the problem is not the loopholes it is the taxation and greed of the overspending politicians. It is like green environmentalists making regulations so strict they cause businesses to leave the USA and go to China where the pollute 5X as much but they feel better but should realize it is still "global" in warming not USA and they are causing more of a problem than they are solving. They call it myopic vision or blindness. You really need to think a little bit about the problem to solve it and not make it worse. By giving credit to the foreign taxes and lowering our tax rate they could improve their total receipts. I wrote to both of my senators about a tax credit for employers employing more workers than they had on 3/1/13 for two years of their employment, say 15% up to $100,000 of earnings/yr, this would actually be revenue generating as they would be paying 15% in payroll federal tax, 15.3% in social security tax, and the govt wouldn't have to pay unemployment benefits. I got zero response. Wonderful politicians.
    20 May 2013, 08:12 PM Reply Like
  • redarrow5150
    , contributor
    Comments (993) | Send Message
     
    Funny. Here in Michigan our Republican Gov. got the legislature to stop the corporate tax here in Michigan and basically came up with nothing to replace this revenue. Last year the state was nearly a billion dollars in the hole so he just took it from the education fund to balance the budget. It isn't just the Democrats it's BOTH parties.
    20 May 2013, 08:29 PM Reply Like
  • tim faulks
    , contributor
    Comments (2) | Send Message
     
    A house that is divided shall not stand !!!
    21 May 2013, 01:04 AM Reply Like
  • Rope a Dope
    , contributor
    Comments (531) | Send Message
     
    Redarrow – are you saying Michigan was a model of efficiency prior to Snyder’s election and there was no need for change? Michigan was a model of incompetence.
    And contrary to your comments, Snyder did provide alternatives to offset the corporate tax cuts. He cut subsidies for green energy projects as well as a few other things. So far, incoming revenues are beating projections. With Michigan’s low (or no) corporate tax rate, they are drawing in businesses from Illinois, a state that just keeps raising taxes. I think Snyder is proving that it is easier to increase revenue by increasing the tax base, rather than by increasing taxes.
    This is a problem we have in all levels of government in the US, people think there is a taxation problem rather than a spending problem. Fix the spending problem first and I would support tax increases.
    21 May 2013, 08:19 AM Reply Like
  • redarrow5150
    , contributor
    Comments (993) | Send Message
     
    What I'm saying is he cut tax revenues without properly replacing. You point out the problem LAST year incoming revenues DID NOT replace this tax cut. So he cut money out of education to balance the overall budget. Gov. Snyder (Repub) has a Republican Senate and House so fixing the "spending problem" should be quite easy...right? The reason why incoming revenues are beating projections is the rebound of automotive here in this state. As for jobs here this state...again his policies have had little impact on creating jobs as the automotive industry is what's happening.
    21 May 2013, 10:28 AM Reply Like
  • justaminute
    , contributor
    Comments (581) | Send Message
     
    Education budgets should be cut.
    21 May 2013, 09:02 PM Reply Like
  • redarrow5150
    , contributor
    Comments (993) | Send Message
     
    Why?
    21 May 2013, 10:46 PM Reply Like
  • justaminute
    , contributor
    Comments (581) | Send Message
     
    Because until they fix the lack of parental involvement in a child's education, no amount of money is going to improve the quality of education.
    21 May 2013, 11:33 PM Reply Like
  • redarrow5150
    , contributor
    Comments (993) | Send Message
     
    So really cutting should be moved over to help parents. It's tough when these kids enter a marriage where 50%+ divorces rates don't make matters any easier for staff or students.
    22 May 2013, 01:09 AM Reply Like
  • justaminute
    , contributor
    Comments (581) | Send Message
     
    No - just cut spending. Parents need to take responsibility. That's part of being a parent.
    22 May 2013, 01:22 AM Reply Like
  • redarrow5150
    , contributor
    Comments (993) | Send Message
     
    Your comment makes no sense.
    22 May 2013, 02:10 PM Reply Like
  • justaminute
    , contributor
    Comments (581) | Send Message
     
    Maybe you just don't understand it.
    22 May 2013, 09:56 PM Reply Like
  • redarrow5150
    , contributor
    Comments (993) | Send Message
     
    You're right...I don't understand how one links spending cuts to parents responsibility. Just like I don't understand how the aliens from outer space killed JFK.
    22 May 2013, 10:50 PM Reply Like
  • justaminute
    , contributor
    Comments (581) | Send Message
     
    Let me make it really simple for you.
    1. My original supposition was that school budgets should be cut because no amount of money will fix the lack of parental involvement. Hence, I am suggesting we cut the money wasted on schools.
    2. You proposed sending money to the parents in lieu of sending it to the schools. That, imo, does not help parents become interested in being involved.
    3. Finally, again in regard to sending money to parents instead of the schools, it is the parents responsibility to support their children. Transferring waste from one place to another won't help anything.

     

    Thanks for the conversation, I'm done replying to you.
    22 May 2013, 11:03 PM Reply Like
  • 1980XLS
    , contributor
    Comments (3314) | Send Message
     
    Wow,

     

    I had no idea that's what happened to JFK.

     

    Thanks for the info.
    23 May 2013, 02:09 AM Reply Like
  • redarrow5150
    , contributor
    Comments (993) | Send Message
     
    Ohh I get it...cut for ALL but what about those who do? How are you going to define "parental involvement" when it comes funding? I proposed sending money to the parents? My point is YOU need to look into a classroom to see what's going on. I know firsthand what's going on a yearly basis and don't disagree with more parental involvement but cutting to spite is idiotic.
    29 May 2013, 02:36 PM Reply Like
  • redarrow5150
    , contributor
    Comments (993) | Send Message
     
    It's right there! The alien in the grassy knoll...get with it man!
    29 May 2013, 02:37 PM Reply Like
  • Simchad
    , contributor
    Comments (87) | Send Message
     
    He should answer them, it's legal, not like what the wh is doing on wire taps and the IRS persecution . And on every question, he should repeat this answer.
    20 May 2013, 08:16 PM Reply Like
  • rlbeard
    , contributor
    Comments (66) | Send Message
     
    Most people are ignorant of tax laws and think any deduction is a loophole. business expenses are business expenses and if you are not in business then don't comment. If I hire you to make something then your wages are an expense they aren't a loophole, the materials used are expenses, the utilities are expenses the depreciation on the place you work or the rent is an expense they are not loopholes, the oil industry is give depletion allowances the loopholes they are talking about are expanded depreciation of drilling costs which can be written off in one year vs over 10 years. this is not a loophole it is to generate more oil so you can get your money back faster, whether they write it off in one or ten years makes little difference to taxes in the long run only to the stimulus to encourage those to drill.
    20 May 2013, 08:16 PM Reply Like
  • redarrow5150
    , contributor
    Comments (993) | Send Message
     
    You mean the same people who say someone got off on a technicality? My dad is a retired Judge and he always laughs when the media or someone says they got off on a technicality. My dad says that "technicality" is called the U.S. Constitution.
    20 May 2013, 08:25 PM Reply Like
  • afterallthat
    , contributor
    Comments (54) | Send Message
     
    Apple is among the top corporate taxpayers in America. I think rbeard is out of line. I wonder how much Bain Company and Mitt Romney paid.
    20 May 2013, 08:29 PM Reply Like
  • deercreekvols
    , contributor
    Comments (5154) | Send Message
     
    If the law-makers don't like tax loopholes, then close them.

     

    To conduct a dog and pony show with Apple as the "target" is a complete waste of taxpayer money.

     

    If they broke the law, prosecute them. If they are doing things legally, apologize.
    20 May 2013, 08:37 PM Reply Like
  • mike mohr
    , contributor
    Comments (451) | Send Message
     
    GE is another big Tax cheat. Beside being in the business of dirty job of outsourcing American jobs.
    20 May 2013, 08:38 PM Reply Like
  • MajorDude
    , contributor
    Comments (252) | Send Message
     
    It is easy to throw around incendiary language like "tax cheat."

     

    But if GE follows the laws that Congress writes, how are they cheating?

     

    If you shop at Wal-Mart, then you're pro-outsourcing every bit as much as GE is pro-outsourcing. You can't have cheaper goods and services while supporting unfunded but defined pension plans, rich social services and the like.

     

    Are you a tax cheat because you listen to a radio made in Korea or drive around in a car made from parts forged in India or China?
    21 May 2013, 06:08 AM Reply Like
  • hs2094
    , contributor
    Comments (28) | Send Message
     
    When will Levin make a grandstanding speech about the carried interest loophole used by Obama buddy Warren Buffet and every hedge fund manager to avoid paying taxes? I'm holding my breath waiting for that one.
    20 May 2013, 08:43 PM Reply Like
  • justaminute
    , contributor
    Comments (581) | Send Message
     
    Make government smaller - it won't cost as much.
    20 May 2013, 08:45 PM Reply Like
  • consultnick
    , contributor
    Comments (183) | Send Message
     
    Levin and McCain are desperate--they will "stand on their heads 'till their ears turn red, eat bugs, and fall over dead" in order to bathe themselves in self-agrandising limelight--they are pathetic. Each has his own gigantic lobby interest, which has enjoyed "most favored tax status" for generations--let's start taxing military expenditures for Israel, or pick apart tax exemptions for defense manufacturing, such as Boeing got to move to South Carolina.

     

    Most organized societies conduct commerce within a code of bribes that has been in place for millennia--we act as if isn't there, but it IS in the form of taxes!

     

    Prepare for yet another buying opportunity in AAPL, as a public flaying/stir-frying of Cook by our august legislators will likely pressure the stock with intense media scrutiny. Perhaps the real news of the horrible tornado in Oklahoma will deflect some media attention toward a real disaster--instead of trying to fabricate one! Then we can get back to praying that something grand begins to emerge from AAPL on June 11th.....
    20 May 2013, 08:58 PM Reply Like
  • Gary Bushwacher
    , contributor
    Comments (508) | Send Message
     
    Corporations can't pay taxes, only people can.

     

    If governments levy taxes on corporations, they pass it on in product costs; in order to make an acceptable return - all things, competitors being equal.

     

    Hence only people pay taxes.
    20 May 2013, 09:02 PM Reply Like
  • berylrb
    , contributor
    Comments (2179) | Send Message
     
    I thought there exists a "doctrine" of corporate personhood to make taxation, lawsuits, and covenants easier for corporations?
    20 May 2013, 10:04 PM Reply Like
  • redarrow5150
    , contributor
    Comments (993) | Send Message
     
    So most of you are opposed to tax reform or looking into it?
    20 May 2013, 09:11 PM Reply Like
  • justaminute
    , contributor
    Comments (581) | Send Message
     
    Flat tax for everyone including companies.
    20 May 2013, 09:33 PM Reply Like
  • Ted Bear
    , contributor
    Comments (575) | Send Message
     
    There is nothing wrong with Tax Reform. Indeed, it is probably a necessary element of any plan to put the country on a solid footing. However, you can't have the people who are going to be taxed bribing the people who are going to make the tax code, and then have the bribee complain because the tax code doesn't work!

     

    It is real simple to resolve, but personally painful to Congress, so they will never acede to it. You simply eliminate ANY form of lobbying and campaign funding by corporations or individuals above a certain threshhold, and in totality; and you have Congress eat their own coooking--inlcuding taxes, pension and health care. We would have certain reform by sunrise. But sadly, it will never happen because guys like Levin have gotten filthy (of the dirtiest kind) rich off the current system.
    20 May 2013, 09:35 PM Reply Like
  • Jack Staub
    , contributor
    Comments (85) | Send Message
     
    Congress, you're critising Apple for following the tax code that you crafted. Really??

     

    Well there's no need for you to prove your own incompetence, not to us, that we've known for a long time. But why target Apple, we actually like Apple. You might consider starting with a company less liked than Congress.
    20 May 2013, 09:11 PM Reply Like
  • Pts117
    , contributor
    Comments (178) | Send Message
     
    this is really an irish issue and not really in the American system...
    21 May 2013, 02:06 AM Reply Like
  • edinvestor1
    , contributor
    Comments (100) | Send Message
     
    Blah blah blah. It is legal so tell the Senators to shut up and do their job and make taxes simpler and more consistent like other countries.
    20 May 2013, 09:56 PM Reply Like
  • Joe Dirnfeld
    , contributor
    Comments (1128) | Send Message
     
    They make the rules, then seek to penalize you for adapting them.
    Levine is beyond corruption.
    20 May 2013, 11:02 PM Reply Like
  • Thomrunfit
    , contributor
    Comments (3) | Send Message
     
    So our pandering government is going to harass Apple for following their tax code?I would be very interested to know how many employees Apple has in the USA. A listing of the payroll,realestate ,
    Property and all other taxes paid by Apple should be dumped on Congresses hall of shame.....if they were taxed fairly I bet they would gladly bring more of their assets on shore. Let the games begin!
    21 May 2013, 12:39 AM Reply Like
  • menlop94025
    , contributor
    Comments (6) | Send Message
     
    It is hard to believe--but painfully obvious--that Rep Levin does not understand the tax code that he has helped shape! Shame on him for allowing this, and then excoriating Apple (he might have to look that one up)...
    21 May 2013, 12:43 AM Reply Like
  • edinvestor1
    , contributor
    Comments (100) | Send Message
     
    Actually no one can understand the tax code these idiots have screwed up. The IRS even says they are not bound by anything one of their agents tells you, because THEY can't even interpret it. We need a simplified tax code.
    21 May 2013, 09:16 AM Reply Like
  • 1980XLS
    , contributor
    Comments (3314) | Send Message
     
    Carl Levin lives the loophole.

     

    He has never created or produced anythiing in his life.

     

    Yes, let's close the loopholes, and shut down the X-holes.
    21 May 2013, 12:49 AM Reply Like
  • tgburns
    , contributor
    Comments (7) | Send Message
     
    This is another good reason to eliminate the corporate income tax completely. Think of all the money and effort that could be redirected into something productive instead of companies trying to avoid and tax collectors trying to collect an almost insignificant source of revenue.
    21 May 2013, 12:51 AM Reply Like
  • Bigeye13
    , contributor
    Comments (10) | Send Message
     
    If you live in state "A" but also have to pay state tax to state "B" then state "A" generally gives you an inkind credit. Why can't countries just do that? Too simple for Congress and no campaign contributions???.....h...
    21 May 2013, 01:05 AM Reply Like
  • Warren Buffet007
    , contributor
    Comments (913) | Send Message
     
    Sorry, but all large companies today have the same model tax practices, and those practices are completely legal because they are worldwide working multinational companies, including Google!!!.
    21 May 2013, 03:47 AM Reply Like
  • SAR2401
    , contributor
    Comments (155) | Send Message
     
    "You have the right to remain silent and refuse to answer questions. Do you understand?
    Anything you do say can and will be used against you in a court of law. Do you understand?
    You have the right to consult an attorney before speaking to the police and to have an attorney present during questioning now or in the future. Do you understand?
    If you cannot afford an attorney, one will be appointed for you before any questioning if you wish. Do you understand?
    If you decide to answer questions now without an attorney present you will still have the right to stop answering at any time until you talk to an attorney. Do you understand?
    Knowing and understanding your rights as I have explained them to you, are you willing to answer my questions without an attorney present?"

     

    It's called the Miranda Warning. Except for the attorney parts, Tim Cook should understand it and take it to heart. He also has the Fifth Amendment on his side. If they have a criminal case, go to a federal grand jury and get an indictment. If not, say nothing and answer no questions. Tim Cook is not going to convince the Congress to change any part of the tax code. With his well known ability to stick his foot in his mouth, the best thing he can do is keep his moutn shut.
    21 May 2013, 03:47 AM Reply Like
  • 123man
    , contributor
    Comments (1032) | Send Message
     
    it is called "corrupt capitalism" and the corruption starts in the US Congress, paid for by the corporations of course -
    it is only "free enterprise" to those corporations who can afford to make it so -
    21 May 2013, 09:00 AM Reply Like
  • emperor2
    , contributor
    Comments (82) | Send Message
     
    Instead of Congress bitching about a company taking advantage of a tax law that Congress itself made, Congress should get rid of ALL exemptions and go to a flat tax with no exemptions. The Fair Tax, Herman Cain's 999 tax or something equally a simple and fair to all.
    21 May 2013, 10:01 AM Reply Like
  • JG2000
    , contributor
    Comments (379) | Send Message
     
    If Congress is serious about changing/simplifying the tax laws and reducing the repatriation tax rate to encourage repatriation...they can get off their duffs and do so. This Senate committee has the look of one of their typical dog and pony shows; when will they quit yapping and starting doing?
    21 May 2013, 10:12 AM Reply Like
  • cruzn59
    , contributor
    Comments (21) | Send Message
     
    This story is the "tilt" that the common man will never fully be able to participate. Obama and Co. has allowed it to become more corrupt with a festive flair, and an occasional talking to from the Wizard (SEC). The wealthy, whether it be a company or a hedge fund, pays far, far less than most of us reading this article. They own the lawmakers and pay for their re-election. What has changed since the beginning? How did Apple grow? Come on? It didn't just happen when this fresh graduate wrote this article. What is the function of these blogs? For every writer that says "good", there is an equal number that says "bad". Can any of us average Joe's every read an article and know that it is factual? Someone knows, the handlers make money just on flipping it, adding no value, hoping they are the one sitting next to Buffet or Icahn when the music stops. Its no different than it ever has been on Wall Street. I have been out for a while due to illness. There selling the same song, different verse. It starts out, "There's still time..."
    21 May 2013, 10:48 AM Reply Like
  • Gary Bushwacher
    , contributor
    Comments (508) | Send Message
     
    Best line I heard -

     

    "it's a good thing Apple isn't run by a Senator"
    22 May 2013, 09:42 AM Reply Like
  • 123man
    , contributor
    Comments (1032) | Send Message
     
    Listen to Musk's post second offering interview on Bloomberg TV!
    23 May 2013, 11:53 AM Reply Like
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