Apple Paid Less Than 2% Tax On Overseas Earnings

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Not to defend Apple or anything, but I'm pretty sure a lot of large companies get away with this crap.

Apple Inc. paid an income tax rate of only 1.9 percent on its earnings outside the U.S. in its latest fiscal year, a regulatory filing by the company shows. The world's most valuable company paid $713 million in tax on foreign earnings of $36.8 billion in the fiscal year ended Sept. 29, according to the financial statement filed on Oct. 31. The foreign earnings were up 53 percent from fiscal 2011, when Apple earned $24 billion outside the U.S. and paid income tax of 2.5 percent on it.
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Outsourcing and offshore banking at its best.

Also,
In before thread is locked due to political rants.
 
Lot of companies get away with it. Apple is just the whipping boy for everything now. They deserve a lot of the whipping they get but not all of it, especially when it comes to things like this and Foxconn.
 
Vermillion said:
Lot of companies get away with it. Apple is just the whipping boy for everything now. They deserve a lot of the whipping they get but not all of it, especially when it comes to things like this and Foxconn.
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I disagree. They still deserve the whipping, just other companies deserve the same treatment for when they do the same thing.
 
thedocta45 said:
Outsourcing and offshore banking at its best.

Also,
In before thread is locked due to political rants.
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Political? That really only applies to divisive comments and issues. I think nearly everyone agrees companies take advantage of a lot of tax loopholes that honestly need to be re-evaluated.
 
It is their money.

If I held my neighbors up at gunpoint and said that I was "redistributing their wealth" because I thought poor and needy people were entitled to their money I'd be arrested for armed robbery. How is it any different when armed police officers do it?
 
rflcptr said:
Police officers don't redistribute anyone's money.
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Oh yes they do.

If you refuse to hand over your property to the state, they will come to your house with a full paramilitary assault force, ready to do you harm.

Ed and Elaine Brown can attest to that.
 
I'm sure they're not doing anything illegal. It's not their fault our tax code is so retarded.
 
Companies that make this kind of money should pay at least 10%
 
damicatz said:
Oh yes they do.

If you refuse to hand over your property to the state, they will come to your house with a full paramilitary assault force, ready to do you harm.

Ed and Elaine Brown can attest to that.
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^This.
I've met the Browns years ago and live in the general area that they "used to" live in.
 
Businesses shouldn't pay taxes. It just ends up costing the consumer more. They should just have a national sales tax, period.
 
ballistic90 said:
I disagree. They still deserve the whipping, just other companies deserve the same treatment for when they do the same thing.
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Other companies do do the same thing! They just suck more at it and everyone is already too busy whipping Apple.

Apple doesn't deserve whipping.
 
How much of the money that goes through Apple ends up re-circulating within the US economy, vs overseas?

If i were to buy $1000 worth of Apple products, assuming $500 goes to Apples bank account (which technically becomes stagnant and taken out of the system), how does the remaining $500 in expenses get split between the US and China?
 
only upset I really have is that Apple had to pay taxes on money made outside the country anyways, the US should not be able to tax a company based on earnings they get outside of the US, of course earnings the cost of doing business overseas shouldn't be able to have money funneled out of the US and have that be considered "business expenses" and lower the rate in this country.
 
I really don't see what the problem is. A government should only be able to tax income earned within its boarders. Either way if apple ends up paying more taxes, it's end purchasers will be hit with price increases to offset the new tax liability.
 
When Apple avoids paying taxes and exploiting legal loopholes they are considered savvy businessmen. When a poor person tries to avoid paying taxes to buy food for their family they are a leech on society and must be crushed.
 
We could close tax loopholes if we wanted to, but people vote for Representatives based on stupid non-issues instead.
 
Lebowski said:
Either way if apple ends up paying more taxes, it's end purchasers will be hit with price increases to offset the new tax liability.
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Knock it off with the dogmatic bullshit. You have zero evidence of that.

If corporations paid more taxes, they'd make less profit. They cannot simply charge more for everything, people will buy less.

FFS
 
damicatz said:
Oh yes they do.

If you refuse to hand over your property to the state, they will come to your house with a full paramilitary assault force, ready to do you harm.

Ed and Elaine Brown can attest to that.
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So that had nothing to do with Ed Brown's armed robbery charge or his involvement with a militia group targetting the president of the United States? Or the fact that they refused to pay income tax for 10 years?

Hell, they stockpiled weapons and ammunition. I'd hope the government wouldn't just said some unarmed police officer to get their head blown off.
 
damicatz said:
Oh yes they do.

If you refuse to hand over your property to the state, they will come to your house with a full paramilitary assault force, ready to do you harm.

Ed and Elaine Brown can attest to that.
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already taken, you pay property taxes.
 
"The hardest thing in the world to understand is the income tax." - Albert Einstein
 
So all you leftist who think that the rich (many who are paying over 50% between federal and state) are not paying enough in taxes, are ok with this?

Seem like we really need to fix the tax code.

They really should get rid of the federal income tax, and switch to a national sales tax.
If exempted food and housing it would make it more fail for lower income people as they spend larger share of thier income on food & housing. The big advantage of a sales tax, is that all the drug dealers and people working under the table would now be paying taxes on what thye buy, plus you wouldn't need to pay someone to prepare your taxes every year or worry about keeping receipts for deductions.

I would not want a VAT (value added tax), as this is a hidden tax (it's bundled into the price during production), so everytime the politicians raise the tax, it just makes the price of everything you buy go up. It's much more dificult to raise taxes if people actually see the tax amount everytime the buy something.
 
Lebowski said:
I really don't see what the problem is. A government should only be able to tax income earned within its boarders. Either way if apple ends up paying more taxes, it's end purchasers will be hit with price increases to offset the new tax liability.
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are you retarded, thats the entire problem with our economy. ALL the big US based businesses are doing everything overseas for this reason, to pay less taxes.

It takes jobs from our own country, gives that business to another country, then that company gets to make more money and pay less taxes...
 
damicatz said:
Oh yes they do.

If you refuse to hand over your property to the state, they will come to your house with a full paramilitary assault force, ready to do you harm.

Ed and Elaine Brown can attest to that.
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Hahaha. The people who claimed their land in the name of God, stating it was no longer part of the United States, having been claimed by God, therefore they didn't have to pay taxes?

Ed Brown -
Once you've used the lawful word, you've done it the absolute proper way, and they still come at you, they are now attacking the Creator himself or itself,… You kill them. That is exactly what the Ten Commandments tell you to do.
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I hate the rolleyes emoticon, but you fucking earned it. :rolleyes:
 
Nutzo, "So all you leftist who think that the rich (many who are paying over 50% between federal and state) are not paying enough in taxes, are ok with this?" Add all the taxes up & you & me are paying 50% in taxes. Are you Rich??? because I'm not.
 
Parja said:
I'm sure they're not doing anything illegal. It's not their fault our tax code is so retarded.
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Bingo. The US has the world's highest corporate tax rate. Is it any wonder that companies are choosing to do business elsewhere?
 
nutzo said:
So all you leftist who think that the rich (many who are paying over 50% between federal and state) are not paying enough in taxes, are ok with this?

Seem like we really need to fix the tax code.

They really should get rid of the federal income tax, and switch to a national sales tax.
If exempted food and housing it would make it more fail for lower income people as they spend larger share of thier income on food & housing. The big advantage of a sales tax, is that all the drug dealers and people working under the table would now be paying taxes on what thye buy, plus you wouldn't need to pay someone to prepare your taxes every year or worry about keeping receipts for deductions.

I would not want a VAT (value added tax), as this is a hidden tax (it's bundled into the price during production), so everytime the politicians raise the tax, it just makes the price of everything you buy go up. It's much more dificult to raise taxes if people actually see the tax amount everytime the buy something.
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There isn't a single "rich" person alive that actually pays 50% of their earnings as income tax. First, you get taxed on your earnings in different brackets. If you make $200,000 a year, and the tax brackets are (just an example, I don't know them off the top of my head) $50,000 and under at 20%, 100,000 and under at 40%, and 200,001 and under at 50%, then the first $50,000 would be taxed at 20% income tax, your next $50,000 would be taxed at 40%, and your last $100,000 would be taxed at 50%. Of course we all know that the actual tax brackets aren't at those points, but that's how your income is taxed, not as a lump sum.

Then there's the loopholes, and the payroll tax (that even the "47%" pay) that is only taken out of your first $100,000 you make, and then the capital gains taxes and whatnot, you'll find that the most of the people who qualify as rich only pay between 20% to 35%, and that's being generous.
 
Mohonri said:
Bingo. The US has the world's highest corporate tax rate. Is it any wonder that companies are choosing to do business elsewhere?
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No it doesn't. The only industrialized country that has a lower tax rate is Canada, and that was a very recent change under Stephen Harper (who by all accounts is more of a criminal than Richard Nixon).

And even still, companies Verizon and AT&T haven't paid any taxes for the last few years. They get to post their losses as tax breaks and apply them for multiple years.
 
ballistic90 said:
There isn't a single "rich" person alive that actually pays 50% of their earnings as income tax. First, you get taxed on your earnings in different brackets. If you make $200,000 a year, and the tax brackets are (just an example, I don't know them off the top of my head) $50,000 and under at 20%, 100,000 and under at 40%, and 200,001 and under at 50%, then the first $50,000 would be taxed at 20% income tax, your next $50,000 would be taxed at 40%, and your last $100,000 would be taxed at 50%. Of course we all know that the actual tax brackets aren't at those points, but that's how your income is taxed, not as a lump sum.

Then there's the loopholes, and the payroll tax (that even the "47%" pay) that is only taken out of your first $100,000 you make, and then the capital gains taxes and whatnot, you'll find that the most of the people who qualify as rich only pay between 20% to 35%, and that's being generous.
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Personally I think that taking more than 15-20% of a person's income regardless of bracket is stealing. The tax laws just need to be simplified so we have a flat tax. EVERYBODY should pay unless you are physically unable to pay. I still believe we need to take care of our folks but too many moochers today expect people to give them everything.
 
fdiaz78 said:
Try refusing to "pay your fair share" in income taxes and see if the police won't come to your house and arrest you.
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Hell, if you don't want to pay taxes, get the hell off the roads and go live in a forest at the top of a tree. There you won't have any benefit that those taxes go to, except for clean air ordinances and nature protection offered at the local, state and federal level. Food, clothing and utilities are at least partly subsidized, and where do you think the police and the court systems get their money to protect you?

Go build yourself a raft and live on the oceans if you don't want to pay taxes. I'm tired of paying for your shitty attitude.
 
thats the legal amount for companies overseas profits in taxes paid to the US but since that money wasn'tearned here why should they pay anything to the US, they still have to pay whatever the rates are in the country where the money was earned and in europe its pretty high .
 
fdiaz78 said:
Personally I think that taking more than 15-20% of a person's income regardless of bracket is stealing. The tax laws just need to be simplified so we have a flat tax. EVERYBODY should pay unless you are physically unable to pay. I still believe we need to take care of our folks but too many moochers today expect people to give them everything.
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Flat tax would require the sales tax to be raised to a crippling 15 to 20% on all sales to make up for that difference.

And hey, if you want 'moochers' to go away, then maybe you should lobby to get the minimum wage raised to a living wage. And since most of those companies don't offer health care at all, they should be forced to offer that too, since they are 'mooching' off of the government to provide health care for their employees, as there isn't a health care plan in the US that could offer coverage that a minimum wage earner could afford.

Maybe we should make corporations actually PAY the taxes they owe? Many huge corporations don't actually pay taxes on revenue. Usually they get millions in subsidies and pay nothing back, because they arrange their income taxes to show a negative income, so they can claim that on their taxes.

But hey, starving people who can't support themselves are the moochers. I hope you never have to go without a job for an extended amount of time and end up where they are. Then you might have to rethink your incredibly short sighted ignorance.
 
capitol gains are returns from investments and those returns were already taxed at the 35 percent corparate rates before they were listed as a return on investment so investments are really raxed around 50 percent
 
quimby999 said:
capitol gains are returns from investments and those returns were already taxed at the 35 percent corparate rates before they were listed as a return on investment so investments are really raxed around 50 percent
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Not even true for short term capitol gains.
 
ballistic90 said:
Hell, if you don't want to pay taxes, get the hell off the roads and go live in a forest at the top of a tree. There you won't have any benefit that those taxes go to, except for clean air ordinances and nature protection offered at the local, state and federal level. Food, clothing and utilities are at least partly subsidized, and where do you think the police and the court systems get their money to protect you?

Go build yourself a raft and live on the oceans if you don't want to pay taxes. I'm tired of paying for your shitty attitude.
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I never said I wouldn't pay taxes but unfortunately some folks with leftist political leanings believe that people should hand over most of their hard earned income to the government because government knows better and that the income high earner must have done something nefarious to a poor person to get it. This is victim hood at its worse.

By the way, I pay property taxes and gas taxes that fund roads. I also paid hefty impact fees that go towards police and fire services so please don't words in my mouth. Most people will happily pay taxes for the common good but government needs to be a good steward of the funds.

My point being is that government takes too much and taxes are to fund government reasonable functions, not to establish "income fairness" or "social justice". I'm tired of people thinking its not fair that they do not have millions in the bank when somebody else does. Well too bad, work hard, come up with an unique money making invention, open a business and make money. Making your own money is one of the scariest things in the world but liberating at the same time.

More successful means more jobs and more taxes. Simple.
 
ballistic90 said:
Flat tax would require the sales tax to be raised to a crippling 15 to 20% on all sales to make up for that difference.

And hey, if you want 'moochers' to go away, then maybe you should lobby to get the minimum wage raised to a living wage. And since most of those companies don't offer health care at all, they should be forced to offer that too, since they are 'mooching' off of the government to provide health care for their employees, as there isn't a health care plan in the US that could offer coverage that a minimum wage earner could afford.

Maybe we should make corporations actually PAY the taxes they owe? Many huge corporations don't actually pay taxes on revenue. Usually they get millions in subsidies and pay nothing back, because they arrange their income taxes to show a negative income, so they can claim that on their taxes.

But hey, starving people who can't support themselves are the moochers. I hope you never have to go without a job for an extended amount of time and end up where they are. Then you might have to rethink your incredibly short sighted ignorance.
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Any chance you can discuss this as adults and not attack me personally? calling me ignorant doesn't further the conversation. Thanks.
 
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