Posted on 08/15/2016 1:26:58 AM PDT by Olog-hai
Apple CEO Tim Cook struck back at critics of the iPhone maker’s strategy to avoid paying U.S. taxes, telling The Washington Post in a wide ranging interview that the company would not bring that money back from abroad unless there was a “fair rate.”
Along with other multinational companies, the tech giant has been subject to criticism over a tax strategy that allows them to shelter profits made abroad from the U.S. corporate tax rate, which at 35 percent is among the highest in the developed world.
The move complies with the letter of the law, if not the spirit, as a few particularly strident critics have lambasted Apple as a tax dodger. The nonprofit Citizens for Tax Justice estimates that big companies have parked more than $2 trillion offshore, which is subject to more favorable tax rates. …
(Excerpt) Read more at cnbc.com ...
As long as he sends the right donation to the Foundation his rate will be lowered.
See my previous post. Apple and 1000 other large companies including most of Wall St will be in the Clinton Crony Capitalism Club (pay to play)
The other benefit, besides his bottom line, is that some of his upstart competitors won't be in the club.
I think $14 was the cost of assemblying an iPhone from the components, but the components cost a lot too.
Really large corporations get a competitive advantage from high US taxes and onerous regulations. It’s a considerably smaller fraction of the resources of a large corporation to comply with the regulations than it is for a small corporation. Likewise large corporations with multinational operations can shuffle income away from the confiscatory US rates whereas smaller corporations that operate solely within the US are stuck with the getting looted for the benefit of the politicians.
People with conventional morality see corruption, lawlessness, and dishonesty as vices. Apparently Democrat voters see these as virtues.
Hillary might say that she's raising the rate, but Cook knows that's not what she's going to do. She would bankrupt the world with her spending by the end of the first paragraph of her economic plan. Fortunately for her, most Democrat voters never learned math.
Cook is raising money for Hillary because there will be favorable laws and regulations directed towards "certain companies in Cupertino, CA". He knows that he has nothing to fear from Hillary.
She's promising to crack down on hedge funds but her SIL, Mr. Chelsea Clinton, is a hedge fund. Does anyone actually believe that she's going to do that?
Apple is the ‘effect’, HIllary & DNC policies are the ‘Cause’. Hillary & Apple’s CEO both know that Hillary’s plan to jack the corporate tax will have only minor affect on Apple. And Apple can mitigate what little marginal hit they might take by shifting operations and trimming the US workforce.
The simple solution is to make multinational corporations a “nationalist” deal. If they want to do business in our markets, they must support our nation to the degree of that market involvement.
If they do not hire Americans at all levels, do not produce their product or service in America, do not pay US corporate taxes; or receive tax incentives at any level, or involve themselves in US politics, then our markets should not be open to them.
Of course, calculating this needs to be an orderly process. But the goal is that if corporations want access to our markets, they must contribute to America and its people, beyond just selling us what they make or do. And if they want to involve themselves in changing our laws or form of government, they must demonstrate patriotism, and the rejection of internationalism, first.
No no no no no! Supporters of Socialism need to live under the onerous requirements they attempt to impose on others. Apple should be fined for trying to dodge taxes.
Suggestions on what to buy?
He is correct on this issue, for the interest of shareholders and regarding the corporate tax rate.
Trump’s proposed 15% corporate tax rate would keep a trillion $ in the hands of those who invest in the economy.
Component costs for the new 16GB iPhone SE are estimated to be at about $160, according to a preliminary teardown report from IHS iSuppli.
And thats just for the SE
Didn't I just give you one?
Suck it up, Cook. You embrace open socialism, now own it.
That’ll require him to sign his business over to the government. He’s quite fond of the fascistic (and Leninistic) crony “capitalism”, however.
Hey, Cook ... if you want lower tax rates, then quit supporting the Democrats
The left thinks that having the highest corporate tax rate on the planet is the way to “contribute”, of course.
Apple used to produce here. Once.
The Democrats see the purpose of taxation as to punish those they hate. Actually bringing revenues in to government is trivial to them. Republicans always focus on revenues, so are on a different sheet of music.
However, things may significantly change with this next election: the Greeks are about to create a wealth tax; something that Hillary would be more than happy to do, in that she is already promising punitive taxes on the middle class.
Anyone know when Apple will update their line of computers?
At this point, the MacBook is a really overpriced iPad that doesn’t have a touchscreen
http://qz.com/756330/at-this-point-the-macbook-is-a-really-overpriced-ipad-that-doesnt-have-a-touchscreen/?utm_source=YPL&yptr=yahoo
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