FARK.com: (7759787) Apple is so hip, they've been making up Irish-American corporations that reside in both countries yet pay taxes in neither. That's like...whoa, man. My mind just got blown by your bodacious use of tax loopholes

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		Apple is so hip, they've been making up Irish-American corporations that reside in both countries yet pay taxes in neither. That's like...whoa, man. My mind just got blown by your bodacious use of tax loopholes ( talkingpointsmemo.com)		30
		More: Asinine, Apple Inc., United States, u.s. income tax, share buyback, income taxes

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7709 clicks; posted to Business » on 21 May 2013 at 10:05 AM (4 years ago) | Favorite | share:

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Rapmaster2000

2013-05-21 10:07:54 AM

16 votes:

This is why I only use Samsung devices. Their shell corporations are far superior and lower-priced than Apple shell corporations.

My preference of shell corporations is a unique statement of my personal brand identity and I have included these preferences as a part of my personality.

Pocket Ninja

2013-05-21 09:33:41 AM

13 votes:

I'm sure this only relates to their ongoing concern about work conditions in their Chinese factories. They're still working so hard to correct the rampant abuses that their in-depth investigations uncovered in places like FoxConn, and what they're probably thinking is that when it's time to start spending some money on improving those factories and giving the employees something closer to a living wage that moves them beyond what are essentially slave conditions, it'll be good to have the money closer by. See, if the money was all the way in America, it would be harder to get it there than if it was already in a foreign country overseas. They should be lauded for their concerned efficiency.

Pappy091

2013-05-21 10:12:41 AM

4 votes:

Walker: This just in (please sit down): Corporations and rich people find ways to avoid paying taxes, while the little people get audited, fined, and basically get the shaft.

/more at 11

Yay!...more income envy.

This just in, rich people pay FAR more in taxes (both percentage-wise and gross) than you could even imagine.

Why do people think that raising taxes is going to fix a rising multi-trillion dollar deficit. Raising taxes is a drop in the bucket compared to what we need to do to get out of this hole.

ObscureNameHere

2013-05-21 11:10:50 AM

2 votes:

Rapmaster2000: This is why I only use Samsung devices. Their shell corporations are far superior and lower-priced than Apple shell corporations.

My preference of shell corporations is a unique statement of my personal brand identity and I have included these preferences as a part of my personality.

I only use a small, local shell corporation. You probably haven't heard of it.

jshine

2013-05-21 10:37:08 AM

2 votes:

You're the jerk... jerk: Corporate taxes are silly/ridiculous. What is gained from taxing the corporate entity as opposed to those who own it?

Corporations are people too, my friend.

GoldSpider

2013-05-21 10:23:06 AM

2 votes:

HotWingConspiracy: Cook should just strip and drop a hot crackling shiat on the table while looking the lead of the panel in the eye and say "If you don't like it, change the law", then wipe with 100 dollar bills.

I'm afraid to GIS that... but I want to.

JohnnyC

2013-05-21 10:18:14 AM

2 votes:

Pappy091: Walker: This just in (please sit down): Corporations and rich people find ways to avoid paying taxes, while the little people get audited, fined, and basically get the shaft.

/more at 11

Yay!...more income envy.

This just in, rich people pay FAR more in taxes (both percentage-wise and gross) than you could even imagine.

Why do people think that raising taxes is going to fix a rising multi-trillion dollar deficit. Raising taxes is a drop in the bucket compared to what we need to do to get out of this hole.

Oh look everyone! Pappy is here tell us how bad the rich have it. Oh please, Pappy... do it some more! Stand up for those poor, oppressed, sad, rich folks who so desperately need you to defend them. They're counting on you!

HotWingConspiracy

2013-05-21 10:14:21 AM

2 votes:

Cook should just strip and drop a hot crackling shiat on the table while looking the lead of the panel in the eye and say "If you don't like it, change the law", then wipe with 100 dollar bills.

AngryJailhouseFistfark

2013-05-21 04:26:09 PM

1 vote:

CrazyCracka420: It's the politicians who allow these loopholes to exist in the first place that are to blame.

THIS!

You so crazy, cracka.

The Farkers claiming how easy it is to be wealthy and successful remind me of the Tony Robbins sort who sell you books and seminars on how to be successful, and when you get there it's all smoke and mirrors about attitude and positive thinking and hard work and striving and self-sacrifice, but the reality is they refuse to accept that there's an enormous amount of luck involved.

For example, the kid who inherited the house, all paid off. Luck (and he knows it). I'll wager that Pappy and Phinn were not born in the ghetto, raised by their grandmothers while dad was in jail & mom was on and off the crack/smack/booze/etc, trying to function in a run-down urban school overrun with gangs and noise and crime. Effort, sure, but there's a whole lotta right place, right time. It doesn't matter how hard you work if the opportunity isn't there. Likewise, housing prices, and for fark's sake, the commodification of higher education has driven those costs through the roof. Kids saddled with so much debt. Sure, bold, tough Grandfatherly talk:

Live within your means;
Save regularly;

And don't have children. And find that one place where the cost of living is far lower than what they're paying you and pray they don't find out they can pay you less and you'll stay on. Oh, and if you're from a shiatty, depressed area where there used to be jobs until the factory packed up and moved to China, be ready to say goodbye to your (loser) family and never see them again because you damn sure can't afford to take them with you to your new job and efficiency apartment in Bootstrapville. And while you're at it, go ahead an invest in your company's 401k, because that matching pays off. In however many years it takes you to vest. So be prepared to give their matching funds back or pass on that better opportunity that comes along because you don't want to lose those matching funds. And don't get sick or have any pre-existing medical conditions because your health insurance is tied to your job and every time you leave you'll have coverage gaps and other potential lags. And forget about straight commission gigs, unless you're really a gambler and don't plan on getting sick. Ever.

But be bold. Be your own boss. Put everything into that new business venture where you're providing Nonspecific Service to Nonspecific Market. Student loan payments be damned, they can wait until your gamble pays off. Or doesn't. And that old car should keep running, because you bought it within your means and the guy said it was reliable. You'd have taken it to a mechanic, but, well, that would have exceeded your budget and by golly, you're not about to be saddled with more debt. Not on your schedule. Not on your program.

I am reminded of that Saturday Night Live HR satire video on sexual harassment.

√ Be Handsome√ Be Attractive
√ Don't Be Unattractive

UnspokenVoice

2013-05-21 04:19:43 PM

1 vote:

Pappy091: Almet: Pappy091: This just in, rich people pay FAR more in taxes (both percentage-wise...

Warren Buffet disagrees

Well, I am in generally in a higher tax bracket and I can promise you that I pay much higher taxes than my employees do. While they generally get a few thousand back every year, I have to make significant quarterly payments to Uncle Sam with no return at tax time.

You think you qualify as rich, that's cute.

wombatsrus

2013-05-21 03:59:48 PM

1 vote:

The world of Rollerball is closer than you think.

Phinn

2013-05-21 02:23:19 PM

1 vote:

you have pee hands: Phinn: Actually, he's given me a business idea -- a website (app, social media portal?) devoted to providing resources, training and encouragement to 20-somethings to help them start businesses.

Concrete help for the young person who wants to be an entrepreneur and still hold onto his social values.

If I can't think of one, and he can't think of one, then it already sounds like an unmet need.

There's literally tons of services *claiming* to meet that need, the trouble is separating yourself from the charlatans. Or marketing effectively enough that you can get away with being a charlatan yourself.

Some of us don't want to be charlatans.

Pappy091

2013-05-21 02:22:21 PM

1 vote:

Source4leko: Pappy091: Source4leko: Pappy091: ltdanman44: Pappy091: ltdanman44: Pappy091: My main complaint is how we are demonizing rich people/ large companies in this country. I just don't get it. They aren't the problem. It just gets under my skin when I see it.

[i53.tinypic.com image 590x443]
[i52.tinypic.com image 590x442][i54.tinypic.com image 590x442][i51.tinypic.com image 590x443]

You were saying? And yes, those charts are a little outdated. The current ones do not paint any better of a picture

And why does any of that mean that we should hate rich people?

I because they control it all. We get the leftovers

That is absolutely ridiculous and shows a complete lack of understanding of economics. No one can "control it all". They aren't burying gold bars in the backyard.

I think it's just easier for a lot of people to complain about the haves vs. the have not rather than work to become one of the haves, which is shockingly easy to do. Not talking about you specifically, just people in general that share your view point.

Care to elaborate on this? How it is "Shockingly easy" to become one of the haves? I am legitimately curious how this is so easy.

Live within your means and start saving/investing at an early age. Don't buy a house you can't afford with no to little down payment. Don't run up your CCs every month. etc, etc.

If your average person started investing in a Roth IRA or some other retirement investment in their early 20's they would retire a multi-millionaire. It's so easy that it is insane that more people don't do it. I know I sound like a broken record, but the reason it isn't done is because our youth isn't taught to do it.

Inherited a house no mortage, and I save 10% of my income, with 3% of my pre tax pay in an IRA with employer matching. Car will be paid off at the end of the summer, student loans equal one days pay a month. I made the average wage (approx 40k). I have CC debt that I am paying down from when I was injured and had to take u ...

I simplified it as much as I can.

I don't know, or want to know, enough about you to become your life coach. From what you said it sounds like you are doing much better than most people your age. There are a lot of people that would consider you one of the "haves". Keep doing what you are doing.

Are you asking how to become super rich by your mid twenties? Invent Facebook or something.

Slackfumasta

2013-05-21 01:52:26 PM

1 vote:

Clemkadidlefark: Misplaced Anger

Don't blame Apple's pencil whippers.

Blame Congress for Title 26 USC. Apple is using loopholes and accounting Congress made part of the Tax Code at Title 26.

Be angry at Congress.

I'm already perpetually angry at Congress. It's exhausting!

Two16

2013-05-21 01:42:04 PM

1 vote:

snocone: Show of hands, plz.
Stockholders should not take precedence over citizens.
Was there a shift from for the "Good of the American People" to "Whatever the Stockholder Needs" or was it always that way?

There you go again...

Space Station Wagon

2013-05-21 01:28:21 PM

1 vote:

Does your dad own a dealership?

lilbjorn

2013-05-21 12:36:32 PM

1 vote:

pute kisses like a man: i wonder, would the US make more in tax revenue if it decreased taxes?

Don't make me Laff.

Source4leko

2013-05-21 12:31:48 PM

1 vote:

Pappy091: Dusk-You-n-Me: Pappy091: I believe it is a false belief that the middle class is suffering.

It isn't false. It's a fact that wages are at historic lows. It's a fact that half the jobs in America pay less than $34,000 a year. It's a fact that without government assistance, 30% of our population would live in poverty. It's a fact that one in five children in the U.S. lives in poverty. You can ignore it, as most of our politicians and media does, or you can accept it and decide whether this is how you think the richest most powerful nation in the world should operate.

I think that most of the world laughs their asses of at America's definition of poverty. I'm not saying that the lower class should be content, but our definition of classes is way out of whack with the rest of the world. Just look at the quality of life that the lower/middle classes have today compared to 50 years ago.

This is still America, where you are responsible for your life. Everyone has the opportunity to be successful, however they define success. Redistribution of wealth is not the way to raise the lower/middle class. Better education with an emphasis on financial smarts is a good start though.

Cool, so we should be holding our standard of living to what the world thinks is appropriate? Since a poor person in Bangladesh things a poor person in New York is rich that means the person in New York is really just a complainer. I mean, 98% of poor households in the U.S have a refrigerator, poor my ass, right?

AngryJailhouseFistfark

2013-05-21 12:28:41 PM

1 vote:

van1ty: A corporation will spend 100 million dollars to avoid paying 99 million in taxes.

And then they'll claim that $100M as a deductible business expense the following year.

trappedspirit

2013-05-21 11:46:38 AM

1 vote:

"Excuse me, sir, but I've just decided that a large sum of money that you have in your possession now suddenly belongs to the government, because some poor people in an internet forum want it that way."

"Oh, well, let me get my checkbook. Should I make that out to 'kiss my arse' or 'there's always bum fights'"?

GORDON

2013-05-21 10:58:27 AM

1 vote:

Apple may not want to pay their fair share of taxes, but at least they still employee slave labor in China.

Hey, when does the new iPhone come out?

You're the jerk... jerk

2013-05-21 10:55:09 AM

1 vote:

jshine: You're the jerk... jerk: jshine: You're the jerk... jerk: Corporate taxes are silly/ridiculous. What is gained from taxing the corporate entity as opposed to those who own it?

Corporations are people too, my friend.

Do you have something meaningful to add to the conversation? Do you have an argument that it is more efficient to tax the corporate entity rather than the stock holders?

Romney's quip may be glib, but its not really inaccurate. They are (legal) "people" in most senses of the word, with most of the same rights & responsibilities. I can't see any reason why they should get an exemption on taxation unless they're willing to also give up the other benefits of "personhood" -- i.e., free speech rights, the ability to absorb legal liability rather than passing it on to their owners, etc... Why should a fictitious entity be treated as a person for the purpose of granting legal rights & benefits, but not for the purpose of tax liability?

The legal rights of the owners are imputed onto the corporation, they don't exist without them. Instead of treating them as a separate entity for tax purposes, just continue the logic and treat the corporation as a pure investment vehicle. Otherwise, as I indicated the corporation is making inefficient decisions on how to utilize capital and making tax decisions for the investors.

There is also a common misconception about how they absorb legal liability, in essentially all cases there would be no liability for the owners at all without the corporate entity. It does not absorb the liability, it creates and limits the liability. I know this is not always the case (IANAL but I did graduate from law school) but it is the most common use of it today.

scanman61

2013-05-21 10:47:17 AM

1 vote:

theorellior: The more I parse it, the more I think Pappy091 is trolling everyone. The tone of that post reminds me of the "top-shelf pussy" frat troll.

He thinks because he owns Jefferson County Investments, LLC he qualifies as "rich". He doesn't realize that the rich we're talking about are orders of magnitude wealthier than him.

Another one of the 5% thinking they're part of the .005%

unlikely

2013-05-21 10:38:47 AM

1 vote:

You're the jerk... jerk: What is gained from taxing the corporate entity as opposed to those who own it?

Corporations are people, so this doesn't make sense.

jshine

2013-05-21 10:33:23 AM

1 vote:

Quiefenburger: cman: Tim Cook could shiat down the throats of everyone and they will like it ~~because he is Apple Apple did nothing against the law~~.
ftfy

Its still very telling what you left in place...

Pappy091

2013-05-21 10:32:09 AM

1 vote:

ggecko: Pappy091: Walker: This just in (please sit down): Corporations and rich people find ways to avoid paying taxes, while the little people get audited, fined, and basically get the shaft.

/more at 11

Yay!...more income envy.

This just in, rich people pay FAR more in taxes (both percentage-wise and gross) than you could even imagine.

Why do people think that raising taxes is going to fix a rising multi-trillion dollar deficit. Raising taxes is a drop in the bucket compared to what we need to do to get out of this hole.

Not percentage wise. And this isn't about rich people, it is about the biggest corporations in America that pay little to no tax yet they make billions of dollars.

Compare that to a small local store and the taxes they pay.

Go see what Delta or GE paid in taxes last year.

I understand, but people need to blame the system, not the business. No one is going to voluntarily pay more taxes just because.

My main complaint is how we are demonizing rich people/ large companies in this country. I just don't get it. They aren't the problem. It just gets under my skin when I see it.

TechnoHead

2013-05-21 10:27:52 AM

1 vote:

Let this be a lesson to you, kids: slave labor and tax evasion will make you very very rich.

/bwahahahaha

jshine

2013-05-21 10:25:28 AM

1 vote:

I was paying taxes in the US, but then like, I created a fictitious offshore shell corporation that totally reduced my tax liability. 'Cause taxes are like, a bummer.

Introducing iDontPayMyTaxes®

Pappy091

2013-05-21 10:22:50 AM

1 vote:

Almet: Pappy091: This just in, rich people pay FAR more in taxes (both percentage-wise...

Warren Buffet disagrees

Well, I am in generally in a higher tax bracket and I can promise you that I pay much higher taxes than my employees do. While they generally get a few thousand back every year, I have to make significant quarterly payments to Uncle Sam with no return at tax time.

HotWingConspiracy

2013-05-21 10:15:35 AM

1 vote:

Pappy091: Raising taxes is a drop in the bucket compared to what we need to do to get out of this hole.

So you agree it will help. Soak 'em

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