Getbig.com: American Bodybuilding, Fitness and Figure
Getbig Main Boards => Gossip & Opinions => Topic started by: The True Adonis on December 14, 2015, 08:17:14 AM
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http://arstechnica.com/business/2015/10/apple-google-microsoft-hold-more-than-336b-overseas-via-legal-tax-loopholes/
If Apple didn’t hold $181B overseas, it would owe $59B in US taxes
"The effect on the average US taxpayer is that the US government is deprived of revenue."
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More than any other American company, Apple holds $181.1 billion in offshore accounts, according to a Tuesday report released by Citizens for Tax Justice, an advocacy group.
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http://arstechnica.com/business/2015/10/apple-google-microsoft-hold-more-than-336b-overseas-via-legal-tax-loopholes/
If Apple didn’t hold $181B overseas, it would owe $59B in US taxes
"The effect on the average US taxpayer is that the US government is deprived of revenue."
GE made $5 billion in profit and paid $0 in taxes. It's the system. Target purposely bought a bankrupt company in Canada and made them into a Target with plans to not last, it was a way for them to not pay taxes here. Pfizer is merging with a euro pharm at a value of $60 billion, part of it is to not pay US taxes anymore. Oracle is headquartered in Ireland to not pay taxes. Microsoft is headquartered somewhere in Europe as well to avoid paying taxes. They probably have a little office with one person there.
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Cant say I blame them. Do you see what the government uses our tax money for?
meanwhile the nations infrastructure is crumbling, debt is rising exponentially, social security is dead all the while congress and senate keep approving pay raises for themselves for essentially doing nothing.
I wouldn't give my hard earned money to a corrupt government to bribe welfare queens for votes either.
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Cant say I blame them. Do you see what the government uses our tax money for?
meanwhile the nations infrastructure is crumbling, debt is rising exponentially, social security is dead all the while congress and senate keep approving pay raises for themselves for essentially doing nothing.
I wouldn't give my hard earned money to a corrupt government to bribe welfare queens for votes either.
This and they aren't breaking any rules. The law allows this to happen and was designed by corporate lobbyists to allow the money funnel to happen.
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GE made $5 billion in profit and paid $0 in taxes. It's the system. Target purposely bought a bankrupt company in Canada and made them into a Target with plans to not last, it was a way for them to not pay taxes here. Pfizer is merging with a euro pharm at a value of $60 billion, part of it is to not pay US taxes anymore. Oracle is headquartered in Ireland to not pay taxes. Microsoft is headquartered somewhere in Europe as well to avoid paying taxes. They probably have a little office with one person there.
WAAAAAAAYYYY off Try $160 billion. Yes one more time $160 billion. The Apple tax shield is peanuts in comparison.
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Do your research and see who is to blame for the mass exodus of companies to China and the closure of 50,000 plus US based outfits. Hint...his initials are BC.
http://arstechnica.com/business/2015/10/apple-google-microsoft-hold-more-than-336b-overseas-via-legal-tax-loopholes/
If Apple didn’t hold $181B overseas, it would owe $59B in US taxes
"The effect on the average US taxpayer is that the US government is deprived of revenue."
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http://arstechnica.com/business/2015/10/apple-google-microsoft-hold-more-than-336b-overseas-via-legal-tax-loopholes/
If Apple didn’t hold $181B overseas, it would owe $59B in US taxes
"The effect on the average US taxpayer is that the US government is deprived of revenue."
that's 35 billion in military spending... good for apple
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Apple is brilliant and helping their shareholders, which is their ONLY priority, so OP can fuck off.
If the US's corporate tax policy wasn't so absurdly onerous, that money would be here.
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GE made $5 billion in profit and paid $0 in taxes. It's the system. Target purposely bought a bankrupt company in Canada and made them into a Target with plans to not last, it was a way for them to not pay taxes here. Pfizer is merging with a euro pharm at a value of $60 billion, part of it is to not pay US taxes anymore. Oracle is headquartered in Ireland to not pay taxes. Microsoft is headquartered somewhere in Europe as well to avoid paying taxes. They probably have a little office with one person there.
Zellers! The only time I ever bought anything at that overpriced shit store was when they were being bought out by Target and on the very last day they were open, everything was 80% off. I bought a pretty good stepper for $50 ;D
Edit: Target broke our fragile Canadian hearts :'( They said "We love Canada" on all their construction signs, and then they just leave us without as much as a kiss goodbye.
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Apple is brilliant and helping their shareholders, which is their ONLY priority, so OP can fuck off.
If the US's corporate tax policy wasn't so absurdly onerous, that money would be here.
Bernie Sanders is the only one who actually wants to fix the entire corporate tax policy to favor the US.
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Bernie Sanders is the only one who actually wants to fix the entire corporate tax policy to favor the US.
I've heard this name before, who is he?
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GE made $5 billion in profit and paid $0 in taxes. It's the system. Target purposely bought a bankrupt company in Canada and made them into a Target with plans to not last, it was a way for them to not pay taxes here. Pfizer is merging with a euro pharm at a value of $60 billion, part of it is to not pay US taxes anymore. Oracle is headquartered in Ireland to not pay taxes. Microsoft is headquartered somewhere in Europe as well to avoid paying taxes. They probably have a little office with one person there.
Not "the system" but corrupt politicians who favor big business instead of the American people. Corruption....
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Bernie Sanders is the only one who actually wants to fix the entire corporate tax policy to favor the US.
President _aj_ favors a one-year tax amnesty for foreign repatriation.
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Love my Mac, always have. Never had a single fucking virus. First PC I bought was sledgehammered and thrown off the Belmont Shores pier after the techs told me my $1600 purchase was corrupted beyond repair.
Never again.
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The only solution is Total War. Kill everyone. Right, AJ?
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I've heard this name before, who is he?
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I am all for having a president who "looks the part". It's all a dog and pony show anyway. I would much rather have someone like Romney, or the black dude with the deep voice in the All-State commercials (played president on 24)
Bernie Sanders is one wrong step away from a hospice. Part of the President's job, should be to project power.
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I am all for having a president who "looks the part". It's all a dog and pony show anyway. I would much rather have someone like Romney, or the black dude with the deep voice in the All-State commercials (played president on 24)
Bernie Sanders is one wrong step away from a hospice. Part of the President's job, should be to project power.
He does and is a very powerful speaker. You stupid moron.
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Love my Mac, always have. Never had a single fucking virus. First PC I bought was sledgehammered and thrown off the Belmont Shores pier after the techs told me my $1600 purchase was corrupted beyond repair.
Never again.
Wow you must really suck at navigating the internet... How many pop ups did you click on that said you won $1000?
I've only owned Windows and Linux computers/laptops and only 1 of my Windows PCs ended up with a virus, and that was because my network was compromised because my idiot roommate downloaded some spyware that spread to other machines on the same network. Took a while to clean up, but I got it figured out eventually.
Protip: anti-viruses + firewalls + some technical knowledge/common sense and you shouldn't end up with a virus infested computer.
LOL @ the guys who told you its $1,600 to fix your computer. These fucking guys who fix PCs for a living rip people off like crazy. At least most Windows PCs can be recovered. If something happens with a Mac it means they throw away your old one and send you a new one haha. Good luck recovering your files if you didn't store them on a remote server or external hard drive.
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He does and is a very powerful speaker. You stupid moron.
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Wow you must really suck at navigating the internet... How many pop ups did you click on that said you won $1000?
I've only owned Windows and Linux computers/laptops and only 1 of my Windows PCs ended up with a virus, and that was because my network was compromised because my idiot roommate downloaded some spyware that spread to other machines on the same network. Took a while to clean up, but I got it figured out eventually.
Protip: anti-viruses + firewalls + some technical knowledge/common sense and you shouldn't end up with a virus infested computer.
LOL @ the guys who told you its $1,600 to fix your computer. These fucking guys who fix PCs for a living rip people off like crazy. At least most Windows PCs can be recovered. If something happens with a Mac it means they throw away your old one and send you a new one haha. Good luck recovering your files if you didn't store them on a remote server or external hard drive.
Think it had to do with some Nigerian bankers in the process of making me wealthy. Must've been a glitch in the transaction. But, seriously, if you can't trust a Nigerian banker, who can you trust, right?
Btw, the piece of shit cost $1600 (in 2000); the repair cost, at the dealer, was zero. They couldn't even get it to fire up. Also, please fuck yourself for the egghead arrogance, dipshit.
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Wow you must really suck at navigating the internet... How many pop ups did you click on that said you won $1000?
I've only owned Windows and Linux computers/laptops and only 1 of my Windows PCs ended up with a virus, and that was because my network was compromised because my idiot roommate downloaded some spyware that spread to other machines on the same network. Took a while to clean up, but I got it figured out eventually.
Protip: anti-viruses + firewalls + some technical knowledge/common sense and you shouldn't end up with a virus infested computer.
LOL @ the guys who told you its $1,600 to fix your computer. These fucking guys who fix PCs for a living rip people off like crazy. At least most Windows PCs can be recovered. If something happens with a Mac it means they throw away your old one and send you a new one haha. Good luck recovering your files if you didn't store them on a remote server or external hard drive.
Fifteen years and no "happens" yet, but I'll keep you informed.
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Fifteen years and no "happens" yet, but I'll keep you informed.
I must've used some botched Macs. I had to do a lab exam in school for a computer science course in a Mac lab, and the piece of shit crashed on me (the whole sad face with the rolling rainbow or whatever the hell that's supposed to be). Had to restart from scratch. I was given extra time, but it was annoying as hell. Still finished on time regardless ;D
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I must've used some botched Macs. I had to do a lab exam in school for a computer science course in a Mac lab, and the piece of shit crashed on me (the whole sad face with the rolling rainbow or whatever the hell that's supposed to be). Had to restart from scratch. I was given extra time, but it was annoying as hell. Still finished on time regardless ;D
Wow, you must really suck at navigating the internet. How many pop-ups did you click on that said you won $1000?
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Wow, you must really suck at navigating the internet. How many pop-ups did you click on that said you won $1000?
Haha it wasn't a virus from what I could tell. Actually, they cut off internet for that exam. Weren't allowed to access any "helpful websites"
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Haha it wasn't a virus from what I could tell. Actually, they cut off internet for that exam. Weren't allowed to access any "helpful websites"
Just throwing it back at you is all, I know shit about computers. Will say this, though, Nigerian bankers aren't quite as honest as they lead you to believe. Been fifteen years, haven't gotten a fucking dime.
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Just throwing it back at you is all, I know shit about computers. Will say this, though, Nigerian bankers aren't quite as honest as they lead you to believe. Been fifteen years, haven't gotten a fucking dime.
LMAO! They're on POF too! I got a message from some "chick" who sent me a whole thing about how "she's in England right now taking care of her mother, and that her late father has an inheritance she'd like to share with me." I was so tempted to troll them back and maybe even get THEM to send me money hahaha. Oh well, I got shit to do, can't be bothered to deal with bullshit like that.
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Just throwing it back at you is all, I know shit about computers. Will say this, though, Nigerian bankers aren't quite as honest as they lead you to believe. Been fifteen years, haven't gotten a fucking dime.
I noticed most people who aren't computer savvy (not that there's anything wrong with that, I'm sure you have other skills I don't) like Apple products more because they're easy to use and extremely closely controlled by Apple. So when someone makes an app for an Apple product, it goes through a rigorous testing process by Apple to make sure its "good enough" for the app store. While Windows and Linux allow for more flexibility by developers, which could lead to malicious software to be installed. And I guess someone who isn't aware could make the mistake of downloading something they think is legit just to find out its broken bullshit at best and malicious at worst.
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I noticed most people who aren't computer savvy (not that there's anything wrong with that, I'm sure you have other skills I don't) like Apple products more because they're easy to use and extremely closely controlled by Apple. So when someone makes an app for an Apple product, it goes through a rigorous testing process by Apple to make sure its "good enough" for the app store. While Windows and Linux allow for more flexibility by developers, which could lead to malicious software to be installed. And I guess someone who isn't aware could make the mistake of downloading something they think is legit just to find out its broken bullshit at best and malicious at worst.
Bingo for me, plus work supplied them; that's all we used.
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Bingo for me, plus work supplied them; that's all we used.
I'm on a bunch of programming forums so its become second nature to bash Apple for me haha. I should start keeping my mouth shut about this shit outside of programming forums.
I have yet to tell someone they look like shit on a programming forum though... would be interesting to see what kind of response I'd get hahaha
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I'm on a bunch of programming forums so its become second nature to bash Apple for me haha. I should start keeping my mouth shut about this shit outside of programming forums.
I have yet to tell someone they look like shit on a programming forum though... would be interesting to see what kind of response I'd get hahaha
You could insult me up and down tech-wise, and I wouldn't even know to be offended. It's an entirely foreign world to me, and I'm much too old to give a shit at this point.
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You could insult me up and down tech-wise, and I wouldn't even know to be offended. It's an entirely foreign world to me, and I'm much too old to give a shit at this point.
Its all good, man. No need to explain yourself, this is a bodybuilding forum after all haha. Lets just make fun of each other on our lack of muscle and high level of bodyfat ;D
My brother does cartography and runs some cartography society up here in Ontario and rips on me all the time about my lack of geographical knowledge. I, like you, sometimes don't even know if what he said is offensive or not hahaha
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Its all good, man. No need to explain yourself, this is a bodybuilding forum after all haha. Lets just make fun of each other on our lack of muscle and high level of bodyfat ;D
My brother does cartography and runs some cartography society up here in Ontario and rips on me all the time about my lack of geographical knowledge. I, like you, sometimes don't even know if what he said is offensive or not hahaha
All good, friend. Atrophied as fuck and forced to buy two plane seats these days. Life is good.
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Zellers! The only time I ever bought anything at that overpriced shit store was when they were being bought out by Target and on the very last day they were open, everything was 80% off. I bought a pretty good stepper for $50 ;D
Edit: Target broke our fragile Canadian hearts :'( They said "We love Canada" on all their construction signs, and then they just leave us without as much as a kiss goodbye.
Yep. Zellers sucked ass.
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All good, friend. Atrophied as fuck and forced to buy two plane seats these days. Life is good.
I'm in my "winter bulk" ::)
AKA I have no willpower when I wear more than one layer of clothes outside. Getting dangerously close to the two plane seat purchasing stage myself.
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I'm in my "winter bulk" ::)
AKA I have no willpower when I wear more than one layer of clothes outside. Getting dangerously close to the two plane seat purchasing stage myself.
Wife does not like the "bulking phase", haven't done it in a while.
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Yep. Zellers sucked ass.
Good riddance.
I just wish they replaced it with something. The mall in the town I used to work in, still doesn't have a decent walmart/target -style shop. And I refuse to shop at Sears or The Bay.
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Wife does not like the "bulking phase", haven't done it in a while.
I just started seeing this girl I met online (I know I know, rip away lol). And she thinks I look like an Adonis! Even though this is about as fat as I'd like to get before I start my cut. I never get bad enough that my gut hangs over my belt or anything. But the love-handles and a bit of a muffintop start showing if I wear tight enough jeans.
I can't wait to see the look on her face when I shred down for summer again ;D
Or maybe I shouldn't... can't let her get used to rippling abs and then go back to dough boy.
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I noticed most people who aren't computer savvy (not that there's anything wrong with that, I'm sure you have other skills I don't) like Apple products more because they're easy to use and extremely closely controlled by Apple. So when someone makes an app for an Apple product, it goes through a rigorous testing process by Apple to make sure its "good enough" for the app store. While Windows and Linux allow for more flexibility by developers, which could lead to malicious software to be installed. And I guess someone who isn't aware could make the mistake of downloading something they think is legit just to find out its broken bullshit at best and malicious at worst.
None of that is actually true.
I mean, I use my Mac specifically because I do a lot of python and shell scripting that Windows doesn't do.
People develop things for Windows because they are the largest install base and you make software for what will sell. That's why iPhone games are so prevalent. They are a huge install base and so you develop for them.
The PS3 was a bitch to develop for and people made a ton of games for them as well.
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None of that is actually true.
I mean, I use my Mac specifically because I do a lot of python and shell scripting that Windows doesn't do.
People develop things for Windows because they are the largest install base and you make software for what will sell. That's why iPhone games are so prevalent. They are a huge install base and so you develop for them.
The PS3 was a bitch to develop for and people made a ton of games for them as well.
Don't get me started on PS3. Developing for that was damn near impossible. Unless you had a contract with Sony it was so hard to get ANYTHING to work on that thing. When XNA came out, it made developing for Xbox so easy! I wrote like 15 mini games in a span of 3 months just dicking around with XNA.
And I do think apple products are for people who are less tech savvy. They're hard to break because of stupid mistakes, but they also lock you down to using Apple software (not sure how it is now, but iTunes used to be required unless you jailbroke the phone/ipod). I used to own ipod touches. I didn't mean to say that developers or engineers don't use Apple products. I just think that Android is the preferred phone platform for people like us.
And to get an app up on the Apple app store you need it to go through Apple's testing process. They won't allow "subpar" products in their store. While the Blackberry or Windows app stores allowed almost any kind of bullshit to be uploaded. Especially Blackberry. Their paid apps were bad enough that they should have paid ME money to install them.
Edit: Have you ever used HAM to develop for GBA? LOOL that thing was actually pretty great, considering the guy who wrote it took out the hassle of dealing with whatever shit processor the GBA had installed in it.
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Don't get me started on PS3. Developing for that was damn near impossible. Unless you had a contract with Sony it was so hard to get ANYTHING to work on that thing. When XNA came out, it made developing for Xbox so easy! I wrote like 15 mini games in a span of 3 months just dicking around with XNA.
And I do think apple products are for people who are less tech savvy. They're hard to break because of stupid mistakes, but they also lock you down to using Apple software (not sure how it is now, but iTunes used to be required unless you jailbroke the phone/ipod). I used to own ipod touches. I didn't mean to say that developers or engineers don't use Apple products. I just think that Android is the preferred phone platform for people like us.
And to get an app up on the Apple app store you need it to go through Apple's testing process. They won't allow "subpar" products in their store. While the Blackberry or Windows app stores allowed almost any kind of bullshit to be uploaded. Especially Blackberry. Their paid apps were bad enough that they should have paid ME money to install them.
Edit: Have you ever used HAM to develop for GBA? LOOL that thing was actually pretty great, considering the guy who wrote it took out the hassle of dealing with whatever shit processor the GBA had installed in it.
Don't get me wrong, I do believe that Apple has made things a lot easier, but Microsoft did as well back in the windows 95 days and continue to do so.
Certainly Android is also a good platform to develop on as well, but when you are talking about consumer devices, ease of use is extremely important.
I don't even want to fuck around with my iPod (I will jailbreak my iPhone and iPads usually, but that's really just for 2 or 3 very specific apps that are just awesome)
I haven't used HAM. I do have a GBA dev kit floating around here though. Haven't had to use one in years. Maybe since 2007 or 8.
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Don't get me wrong, I do believe that Apple has made things a lot easier, but Microsoft did as well back in the windows 95 days and continue to do so.
Certainly Android is also a good platform to develop on as well, but when you are talking about consumer devices, ease of use is extremely important.
I don't even want to fuck around with my iPod (I will jailbreak my iPhone and iPads usually, but that's really just for 2 or 3 very specific apps that are just awesome)
I haven't used HAM. I do have a GBA dev kit floating around here though. Haven't had to use one in years. Maybe since 2007 or 8.
I'm not a game dev, but I think every dev has dicked around with game engines and SDKs. So my knowledge of game dev is a bit out dated.
I'm actually surprised there are a few guys on getbig who are techies/devs/IT guys. Makes me feel like we're not all just meatheads who lift things up and put them down for an hour a day :D
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New man love in the making between wannabepro & the ugly. ;D
You might wanna include mr.durex.
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http://arstechnica.com/business/2015/10/apple-google-microsoft-hold-more-than-336b-overseas-via-legal-tax-loopholes/
If Apple didn’t hold $181B overseas, it would owe $59B in US taxes
"The effect on the average US taxpayer is that the US government is deprived of revenue."
Or....the government could just ease up and make easier for people to start small business, lower corporate tax, etc etc etc. Good for Apple. Btw Adam, feel free to write an extra check to Uncle Sam just because.
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think of all the interest payments you forgo :)
Yes, this. Not sure what it means, but it helps me sleep better.
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Or....the government could just ease up and make easier for people to start small business, lower corporate tax, etc etc etc. Good for Apple. Btw Adam, feel free to write an extra check to Uncle Sam just because.
Apple is now a small business?
HAHAHAHA!!!
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Apple is now a small business?
HAHAHAHA!!!
i read that and didnt know how to respond... incredible to say the least.
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I've heard this name before, who is he?
I believe this is him..
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Apple is now a small business?
HAHAHAHA!!!
Of course thats not what I meant.
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Of course thats not what I meant.
Then what did you mean?
Because the comments people are making are very specific in regards to the amount of money that Apple (The largest publicly traded company in the world) makes and does not pay in taxes.
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Then what did you mean?
Because the comments people are making are very specific in regards to the amount of money that Apple (The largest publicly traded company in the world) makes and does not pay in taxes.
>:( >:( >:( >:( >:( >:( >:(
You Liberal, Democrat, Commie, Marxist, Fascist, Federalist, Whig, bastard
how dare you suggest a company that makes money pay taxes that fund the military that we are always calling on. God damn it
;D ;D ;D ;D
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Fifteen years and no "happens" yet, but I'll keep you informed.
Buy refurb's from Walmart for $100-150 shipped to your door. Use them for a year and then dump them. Repeat the process. If the Feds ever come flying thru your door, at worst you'll only have a years worth of embarrassing shit on your computer... :D
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I feel the need to post the Titanic, Lincoln Shot, etc about offshore corporate profit posts. Geesh.
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Apple is brilliant and helping their shareholders, which is their ONLY priority, so OP can fuck off.
If the US's corporate tax policy wasn't so absurdly onerous, that money would be here.
You know all those corporations have their head offices in Ireland. We have 12.5% corporation tax and have Google, Facebook, Microsoft, Apple, pfizer (after buying allergen or whoever), and fuck knows how many other companies operating from here. They have.closed the double dutch loophole of washing money through the netherlands into bahamas and 0 tax places but still, a lot of tax avoidance. They get around it through share buy backs, dividends and issuing bonds. Apple issued a bond last year (ie asked for a loan where they pay interest) despite those cash reserves.
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Meanwhile the US mint prints money pretty much whenever it wants, so it's all a moot point.
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Then what did you mean?
Because the comments people are making are very specific in regards to the amount of money that Apple (The largest publicly traded company in the world) makes and does not pay in taxes.
TA's pissed off because Apple isn't paying some of their taxes here in the US like it's going to make that much of a difference when when the real focus to drive the economy is the government easing up to make simpler for small start up businesses to create jobs. Any business is IN business to make a profit and to keep as much profit as possible to put back into the business to grow. There is absolutely NOTHING wrong with what Apple is doing. You sure as hell don't go into business to lose money.
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I wonder how many Apple products TA is using!
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TA's pissed off because Apple isn't paying some of their taxes here in the US like it's going to make that much of a difference when when the real focus to drive the economy is the government easing up to make simpler for small start up businesses to create jobs. Any business is IN business to make a profit and to keep as much profit as possible to put back into the business to grow. There is absolutely NOTHING wrong with what Apple is doing. You sure as hell don't go into business to lose money.
I never said they were doing anything wrong.
What apple is doing has absolutely zero impact on small start up business what so ever.
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Curious. Do military contractor companies that get paid by the USA gov using our taxes pay taxes back themselves? Seems like some sort of circle jerk.
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I never said they were doing anything wrong.
What apple is doing has absolutely zero impact on small start up business what so ever.
I understand you didn't say that but my point is that TA's focus is backwards.
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http://arstechnica.com/business/2015/10/apple-google-microsoft-hold-more-than-336b-overseas-via-legal-tax-loopholes/
If Apple didn’t hold $181B overseas, it would owe $59B in US taxes
"The effect on the average US taxpayer is that the US government is deprived of revenue."
1.) why are you singling out apple? The article list Cisco, Google, Hewlett-Packard, and Oracle as well.
2.) every company does this, especially multi national companies.
3.) your a lying piece of shit if you say you wouldn't do the same if you where thr CEO of any one of these companies.
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Curious. Do military contractor companies that get paid by the USA gov using our taxes pay taxes back themselves? Seems like some sort of circle jerk.
Yes they do.
Government employees also pay taxes on their earnings which are just taxes in the first place.
Double taxation like a guy.
I understand you didn't say that but my point is that TA's focus is backwards.
A lot of focus is misplaced when it comes to politics and taxes.
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This and they aren't breaking any rules. The law allows this to happen and was designed by corporate lobbyists to allow the money funnel to happen.
Exactly! Someone at the University was bitching about how this is theft and it's immoral of Apple to use such shady practices. Nonsense: there's no moral obligation to shovel your money into the pockets of the government and if the tax code allows Apple to do this, it would be stupid of them not to do it.
Which brings us to another point: Apple is a publicly corporation; Appl and its executives have a fiduciary duty to the owners of the company - the shareholders - and failing to use the tax code to their full advantage to reduce the amount of taxes the company owes would likely be a breach of that duty.
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http://arstechnica.com/business/2015/10/apple-google-microsoft-hold-more-than-336b-overseas-via-legal-tax-loopholes/
If Apple didn’t hold $181B overseas, it would owe $59B in US taxes
"The effect on the average US taxpayer is that the US government is deprived of revenue."
(http://i1.kym-cdn.com/photos/images/original/000/204/928/1b2.png)
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I just bought something online for $500. No tax. If I bought it at a store here in NY I would have paid another $40 in tax. Am I a piece of shit for avoiding paying that tax?
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Exactly! Someone at the University was bitching about how this is theft and it's immoral of Apple to use such shady practices. Nonsense: there's no moral obligation to shovel your money into the pockets of the government and if the tax code allows Apple to do this, it would be stupid of them not to do it.
Which brings us to another point: Apple is a publicly corporation; Appl and its executives have a fiduciary duty to the owners of the company - the shareholders - and failing to use the tax code to their full advantage to reduce the amount of taxes the company owes would likely be a breach of that duty.
People forget how much sales tax Apple products generate that the Gov collects.
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Paying taxes is for ordinary people. Big business hires lobbyists and tries to influence lawmakers to make laws that favor big corrupt business companies.
Nearly all members of congress are basically prostitutes: they accept large sums of money for their election campaigns and as there's no free lunch they will do favors for those who gave them all those millions....
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People forget how much sales tax Apple products generate that the Gov collects.
Or have many american jobs apple makes.
or how much GDP Apples adds to the US.
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Or have many american jobs apple makes.
or how much GDP Apples adds to the US.
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Your point?
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Or have many american jobs apple makes.
or how much GDP Apples adds to the US.
Don't forget about the 47000 apple employees that pay taxes to the USA.
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Small Businesses are particularly hurt by the Offshore Tax Havens.
http://www.uspirg.org/sites/pirg/files/reports/U.S.%20PIRG%20Ed%20Fund%20-%20Picking%20Up%20The%20Tab%202015.pdf
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End Offshore Tax Havens
While many conservative politicians complain that corporate tax rates are too high, large businesses rarely pay the full 35 percent rate. Many conglomerates stash their profits overseas to evade taxes by establishing subsidiaries incorporated in foreign countries with laxer corporate tax policies. These companies exploit America’s infrastructure and government resources while avoiding their tax liability to maximize profits. The U.S. created the climate that allowed these corporations to prosper — and should be repaid for its role in their success.
Bernie has said:
“Instead of sheltering profits in the Cayman Islands and other offshore tax havens, the largest corporations in this country must pay their fair share of taxes so that our country has the revenue we need to rebuild America and reduce the deficit. At a time when corporations are making record-breaking profits, while the middle class is disappearing and senior poverty is on the rise, the last thing we should be doing is giving huge tax breaks to profitable corporations that don’t need it.”
I’m no economist. How do companies avoid paying taxes?
The short version is that companies claim that their profits are generated not by their U.S. headquarters or facilities but instead by a subsidiary in a locale with low corporate tax rates. (Bermuda and the Cayman Islands aren’t just vacation spots.) This often takes the form of a “corporate inversion,” which has become a common method of tax evasion. These are just a few examples of large American companies that have moved their nominal headquarters for this purpose:
Florida-based Burger King acquired and merged with Tim Horton’s, under the umbrella company Restaurant Brands International. Now based in Canada, it could avoid $117 million in U.S. taxes by never having to pay corporate income tax on foreign profits it holds offshore.
Ingersoll Rand reincorporated in Bermuda in 2002 and then relocated again to Ireland in 2009, all while keeping the bulk of its management and workforce in North Carolina.
Minnesota-based Medtronic, one of the world’s largest medical technology companies, acquired Ireland-based Covidien in 2014.
Another particularly egregious example of this strategy is known as a “double Irish” or a “Dutch Sandwich,” which cheats not only America out of tax revenue but also Ireland. This is done by shuffling profits and product origins between Ireland, the Netherlands, and the Cayman Islands or Bermuda. The Irish government has attempted to crack down on the scheme, but whether they will be successful remains to be seen.
I love companies like Amazon and Google. Why should I care?
For one thing, it costs you, as an American taxpayer! There’s an estimated $2.1 trillion in profits held in tax havens, which studies estimate amounted to $90 billion of lost tax revenue in 2014. In 2008 a U.S. Senate investigation put the figure at $100 billion. That’s roughly what our federal government spends on transportation each year. To put that in perspective, the Congressional Budget Office estimates that the cost of repairing all of the nation’s 604,493 bridges would be $76 billion.
This is also tremendously unfair, especially to American small businesses. These multinational corporations have built themselves up on the infrastructure and education system provided by the U.S. government and paid for by American citizens, but are now stashing their profits overseas to avoid repaying what they owe. Several of these corporations have taken advantage of not only our infrastructure, but also our bailout funds and tax breaks — all while keeping their profits overseas.
So where does Bernie fit into the equation?
Bernie has publicly called out some of the worst tax-dodgers for their hypocrisy. In 2012, 80 corporate CEOs published a letter in the Wall Street Journal calling for cuts in Medicare and Medicaid in order to reduce the federal deficit. Bernie responded by publishing this aptly titled report: Top Corporate Tax Dodgers: Meet a few of the job destroyers and tax evaders that want to cut Social Security, Medicare, and Medicaid while lowering the tax rate for the top 2%. You should read it.
That was great. Anything else like that?
As ranking member of the Senate Budget Committee, Bernie issued an official report that outlines some of the worst corporate offenders:
Citigroup received $2.5 trillion of taxpayer bailout funds, stashed $43.8 billion of profits overseas, and would owe $11.7 billion if and when this money is repatriated.
Bank of America received $1.3 trillion in bailout funds but holds $17 billion of profits offshore (in 143 tax haven subsidiaries in the Cayman Islands alone). That amounts to an outstanding tax bill of $4.3 billion.
IBM has $52.3 billion in profits held offshore but gets $13.2 billion in tax breaks for a 5.8 percent effective tax rate. Again, the full corporate rate is 35 percent.
Boeing got $9.6 billion in tax breaks for a total tax refund of $401 million between 2008 and 2013, despite claiming $26.4 billion in profits over this period.
General Electric would have paid $14.8 billion more in federal income taxes than it did between 2008 and 2013 if it had paid the full 35 percent federal income tax rate — to say nothing of the $16 billion bailout it received during the financial crisis.
Verizon got $15.6 billion of tax breaks on its $42.5 billion of profits from 2008 to 2013 to net a total refund of $732 million over this period, all while cutting 62,000 jobs in the U.S.
Yikes. What else has Bernie said about this?
A lot. Take this 2011 editorial as an example:
“Today, the U.S. government is actually rewarding companies that move U.S. manufacturing jobs overseas through loopholes in the tax code known as deferral and foreign source income.
This is unacceptable. During the Bush years, the U.S. lost nearly 30 percent of its manufacturing jobs and since 2001, 50,000 manufacturing plants have been shut down. Today, corporations in this country are outsourcing jobs to China and other low wage countries where workers are paid pennies an hour. The last thing we should be doing is providing a tax break to companies that move jobs overseas.
Ending these tax loopholes could raise more than $400 billion over a 10-year period.”
What does Bernie suggest we do about it?
Bernie has sponsored the Corporate Tax Dodging Prevention Act, which would prevent corporations from sheltering profits in tax havens like Bermuda and the Cayman Islands and would stop rewarding companies that ship jobs and factories overseas with tax breaks. He sponsored the Corporate Tax Fairness Act, which would require U.S. companies to pay taxes on all of their income by ending the deferral of foreign source income. And he co-sponsored the Stop Corporate Inversions Act of 2015, which would stop corporations from buying a smaller foreign business and moving their tax “domicile” (address for tax purposes) overseas.
End Subsidies to Big Business
Bernie finds it outrageous that the most profitable corporations continue to receive billions of dollars in taxpayer subsidies each year. He has fought for years to limit these unfair benefits and has consistently refused to accept money from corporations, calling it “legalized bribery.”
Are we really giving billions of dollars in taxpayer money to the most profitable corporations?
Yes. Study after study after study after study reveals the astonishing extent to which we subsidize big business. While the details differ each year, a recent study concludes: “Over the past 15 years, the federal government has provided $68 billion in grants and special tax credits to business, with two-thirds of the total going to large corporations.”
I don’t understand. Why?
In theory, these incentives encourage corporations to keep their businesses in the U.S. and provide jobs to American workers. “Economic development incentives” is a more neutral term for this policy.
But does it work?
It’s a very complex topic, but according to a study in the Harvard Business Review, large corporations are not using the extra money to invest in American jobs. As the author details, after WWII businesses largely followed a retain-and-reinvest approach in that they would use extra income to invest in their workers through “higher incomes and greater job security.” But, the author continues:
“This pattern began to break down in the late 1970s, giving way to a downsize-and-distribute regime of reducing costs and then distributing the freed-up cash to financial interests, particularly shareholders. By favoring value extraction over value creation, this approach has contributed to employment instability and income inequality.”
Which is to say, businesses are increasingly using the extra money to pay CEOs million-dollar salaries and to pump up their own stock prices instead of creating jobs or giving their employees raises.
But I keep hearing that we have the “highest corporate tax rates” in the world?
Our official corporate tax rate of 35 percent is the highest in the world. But it’s very rare that corporations actually pay the full rate, for the reasons outlined above. There’s something called the “effective tax rate,” which is the net rate a taxpayer pays if all forms of taxes are included and divided by taxable income. In other words, it’s a more accurate reflection of a company’s tax liabilities. The nonpartisan Government Accountability Office found that the most profitable corporations paid only an average 13% in federal income taxes in 2010. That puts the U.S. well below most developed countries:
U.S. well below most developed countries
Check out this study from the Cato Institute, a libertarian think-tank founded by Charles Koch, co-owner of Koch Industries. In it, the researchers conclude that “corporate welfare in the federal budget costs taxpayers almost $100 billion a year.”
Are there any other ways that government policies help big business?
Sadly, too many to count.
Any specific examples that Bernie is focused on?
Bernie speaks out against all types for corporate welfare, but he finds the government subsidies given to the fossil fuel industry to be particularly egregious. Oil Change International finds that over $21 billion in production and exploration subsidies are given to oil, coal and gas companies each year. Bernie introduced legislation to end this which would save taxpayers over $135 billion over ten years. You can read more about Bernie’s energy policy at our Climate Change and Energy Policy issue pages.
Any other specific issues that Bernie is focused on?
One of Bernie’s biggest issues is the Export-Import Bank. He’s been fighting against it for years. Here he is back in 2002:
What is the Export-Import Bank?
It provides subsidized financing to American businesses doing business overseas. Head over to Vox to read a thorough explanation.
Done. So what’s wrong with supporting American businesses?
Bernie believes in supporting the business community, particularly American small businesses. What he objects to is taxpayers subsidizing large multinational corporations while they ship American jobs overseas. As Bernie argues in the above video, the Export-Import Bank’s track record isn’t great. Year after year, the vast majority of benefits have gone to a few large corporations. For example, in 2013, nearly one-third of all its financing went to Boeing.
Then why do President Obama and other Democrats support it?
Because there are still many small businesses that rely on the Export-Import Bank for much needed financing. So it is both a form of corporate welfare and a tool for supporting small business. Many Democrats used to side with Bernie on this, including President Obama. Before he was elected president, Obama referred to it as a “fund for corporate welfare.”
Sounds complicated. So what does Bernie propose we do about it?
In 2001, then Representative Sanders introduced an amendment for the reauthorization of the Export-Import Bank to discontinue subsidizing business that shipped American jobs overseas. This would have ensured it remained in place for small businesses but did not continue to subsidize multinational corporations that relocate jobs to other countries. Nearly 15 years later in June 2015, Bernie said:
“Instead of providing low-interest loans to multinational companies that are shipping jobs to China and other low-wage countries, we should be investing in small businesses and worker-owned enterprises that want to create jobs in the United States of America. If the Export-Import Bank cannot be reformed to become a vehicle for real job creation in the United States, it should be eliminated.”
So how do tax reform advocacy groups feel about Bernie?
This is from Citizens for Tax Justice:
“Senator and now presidential candidate Bernie Sanders has one of the strongest records of any elected official when it comes to standing up for tax fairness. In many cases, Sen. Sanders has been the lone voice in the Senate fighting for legislation that would ensure that corporations and the wealthy pay their fair share.”
What else?
Well, have you ever heard of “corporate welfare?” That’s when businesses fail to pay their workers a living wage — exploiting the super-low federal minimum wage of $7.25 per hour — forcing their workers to depend on social services paid for by middle-class taxpayers. Bernie has called this “Welfare for Walmart.”
What does “Welfare for Walmart” refer to?
It’s a reference to the fact that the retail behemoth Walmart costs taxpayers $6.2 billion each year in food stamps, health care costs, and other government programs because it pays the vast majority of its employees so little that they require public assistance to survive. Important to note is the Walton family, Walmart’s largest shareholders, is the wealthiest family in America, estimated to be worth $148.8 billion or more than 49 million American families’ net worths combined.
Watch Bernie question a representative from the Manhattan Institute of Policy Research, a conservative American think-tank, on Walmart and the minimum wage in this 2014 hearing:
Appalled? Right. Now go read the Minimum Wage issue page to learn about Bernie’s proposal to more-than-double the federal minimum wage to $15.
Overturning Citizens United
Bernie wants to implement comprehensive campaign finance reform by passing a constitutional amendment to overturn Citizens United — a Supreme Court decision that allows corporations and the super-rich to spend unlimited money on election campaigns — and move toward public funding of elections.
Why does Bernie want comprehensive campaign finance reform?
Right now, wealthy corporations have enormous power to influence campaigns and elections. This gives them an outsized voice in lawmaking and policy — and stifles the voice of ordinary Americans.
Haven’t the wealthiest people always had more influence on our government?
Yes. That’s why Bernie has called for campaign finance reform for years. Here he is in 2002:
So, how will he overturn Citizens United and what does public funding of elections mean?
Glad you asked. Check out all the details at the Political Reform page.
Support Entrepreneurship and Small Businesses
Bernie has emphasized the importance of supporting America’s small businesses. He believes that our government favors multinational corporations and huge conglomerates in their quest for limitless profits — over innovation and domestic economic stability.
Specifically, how has Bernie supported small businesses?
In general, all policies that Bernie supports have the indirect purpose of helping small businesses to compete with large or international corporations. To name a few, in addition to policies mentioned above such as reforming the Export-Import Bank, Bernie supports efforts to raise the minimum wage, legalize and protect immigrant workers, and reform disastrous trade deals which only benefit multinational corporations.
Check out the Small Business issue page for specific policies geared towards boosting small businesses.
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No one will read all tht. Even u dident!
Ikea in Sweden do the same! Running away from paying tax!
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Stopped reading after "Pay their fair share' that's liberal code for we want to take everything you have and fuck you over.
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Small Businesses are particularly hurt by the Offshore Tax Havens.
http://www.uspirg.org/sites/pirg/files/reports/U.S.%20PIRG%20Ed%20Fund%20-%20Picking%20Up%20The%20Tab%202015.pdf
Fuck them, they can do it to if they want.
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The tax code needs to be scrapped and redone... it's impossible to salvage 74,000 pages of pure and utter bullcrap, and why would we want to anyways?
-
End Offshore Tax Havens
While many conservative politicians complain that corporate tax rates are too high, large businesses rarely pay the full 35 percent rate. Many conglomerates stash their profits overseas to evade taxes by establishing subsidiaries incorporated in foreign countries with laxer corporate tax policies. These companies exploit America’s infrastructure and government resources while avoiding their tax liability to maximize profits. The U.S. created the climate that allowed these corporations to prosper — and should be repaid for its role in their success.
Bernie has said:
“Instead of sheltering profits in the Cayman Islands and other offshore tax havens, the largest corporations in this country must pay their fair share of taxes so that our country has the revenue we need to rebuild America and reduce the deficit. At a time when corporations are making record-breaking profits, while the middle class is disappearing and senior poverty is on the rise, the last thing we should be doing is giving huge tax breaks to profitable corporations that don’t need it.”
I’m no economist. How do companies avoid paying taxes?
The short version is that companies claim that their profits are generated not by their U.S. headquarters or facilities but instead by a subsidiary in a locale with low corporate tax rates. (Bermuda and the Cayman Islands aren’t just vacation spots.) This often takes the form of a “corporate inversion,” which has become a common method of tax evasion. These are just a few examples of large American companies that have moved their nominal headquarters for this purpose:
Florida-based Burger King acquired and merged with Tim Horton’s, under the umbrella company Restaurant Brands International. Now based in Canada, it could avoid $117 million in U.S. taxes by never having to pay corporate income tax on foreign profits it holds offshore.
Ingersoll Rand reincorporated in Bermuda in 2002 and then relocated again to Ireland in 2009, all while keeping the bulk of its management and workforce in North Carolina.
Minnesota-based Medtronic, one of the world’s largest medical technology companies, acquired Ireland-based Covidien in 2014.
Another particularly egregious example of this strategy is known as a “double Irish” or a “Dutch Sandwich,” which cheats not only America out of tax revenue but also Ireland. This is done by shuffling profits and product origins between Ireland, the Netherlands, and the Cayman Islands or Bermuda. The Irish government has attempted to crack down on the scheme, but whether they will be successful remains to be seen.
I love companies like Amazon and Google. Why should I care?
For one thing, it costs you, as an American taxpayer! There’s an estimated $2.1 trillion in profits held in tax havens, which studies estimate amounted to $90 billion of lost tax revenue in 2014. In 2008 a U.S. Senate investigation put the figure at $100 billion. That’s roughly what our federal government spends on transportation each year. To put that in perspective, the Congressional Budget Office estimates that the cost of repairing all of the nation’s 604,493 bridges would be $76 billion.
This is also tremendously unfair, especially to American small businesses. These multinational corporations have built themselves up on the infrastructure and education system provided by the U.S. government and paid for by American citizens, but are now stashing their profits overseas to avoid repaying what they owe. Several of these corporations have taken advantage of not only our infrastructure, but also our bailout funds and tax breaks — all while keeping their profits overseas.
So where does Bernie fit into the equation?
Bernie has publicly called out some of the worst tax-dodgers for their hypocrisy. In 2012, 80 corporate CEOs published a letter in the Wall Street Journal calling for cuts in Medicare and Medicaid in order to reduce the federal deficit. Bernie responded by publishing this aptly titled report: Top Corporate Tax Dodgers: Meet a few of the job destroyers and tax evaders that want to cut Social Security, Medicare, and Medicaid while lowering the tax rate for the top 2%. You should read it.
That was great. Anything else like that?
As ranking member of the Senate Budget Committee, Bernie issued an official report that outlines some of the worst corporate offenders:
Citigroup received $2.5 trillion of taxpayer bailout funds, stashed $43.8 billion of profits overseas, and would owe $11.7 billion if and when this money is repatriated.
Bank of America received $1.3 trillion in bailout funds but holds $17 billion of profits offshore (in 143 tax haven subsidiaries in the Cayman Islands alone). That amounts to an outstanding tax bill of $4.3 billion.
IBM has $52.3 billion in profits held offshore but gets $13.2 billion in tax breaks for a 5.8 percent effective tax rate. Again, the full corporate rate is 35 percent.
Boeing got $9.6 billion in tax breaks for a total tax refund of $401 million between 2008 and 2013, despite claiming $26.4 billion in profits over this period.
General Electric would have paid $14.8 billion more in federal income taxes than it did between 2008 and 2013 if it had paid the full 35 percent federal income tax rate — to say nothing of the $16 billion bailout it received during the financial crisis.
Verizon got $15.6 billion of tax breaks on its $42.5 billion of profits from 2008 to 2013 to net a total refund of $732 million over this period, all while cutting 62,000 jobs in the U.S.
Yikes. What else has Bernie said about this?
A lot. Take this 2011 editorial as an example:
“Today, the U.S. government is actually rewarding companies that move U.S. manufacturing jobs overseas through loopholes in the tax code known as deferral and foreign source income.
This is unacceptable. During the Bush years, the U.S. lost nearly 30 percent of its manufacturing jobs and since 2001, 50,000 manufacturing plants have been shut down. Today, corporations in this country are outsourcing jobs to China and other low wage countries where workers are paid pennies an hour. The last thing we should be doing is providing a tax break to companies that move jobs overseas.
Ending these tax loopholes could raise more than $400 billion over a 10-year period.”
What does Bernie suggest we do about it?
Bernie has sponsored the Corporate Tax Dodging Prevention Act, which would prevent corporations from sheltering profits in tax havens like Bermuda and the Cayman Islands and would stop rewarding companies that ship jobs and factories overseas with tax breaks. He sponsored the Corporate Tax Fairness Act, which would require U.S. companies to pay taxes on all of their income by ending the deferral of foreign source income. And he co-sponsored the Stop Corporate Inversions Act of 2015, which would stop corporations from buying a smaller foreign business and moving their tax “domicile” (address for tax purposes) overseas.
End Subsidies to Big Business
Bernie finds it outrageous that the most profitable corporations continue to receive billions of dollars in taxpayer subsidies each year. He has fought for years to limit these unfair benefits and has consistently refused to accept money from corporations, calling it “legalized bribery.”
Are we really giving billions of dollars in taxpayer money to the most profitable corporations?
Yes. Study after study after study after study reveals the astonishing extent to which we subsidize big business. While the details differ each year, a recent study concludes: “Over the past 15 years, the federal government has provided $68 billion in grants and special tax credits to business, with two-thirds of the total going to large corporations.”
I don’t understand. Why?
In theory, these incentives encourage corporations to keep their businesses in the U.S. and provide jobs to American workers. “Economic development incentives” is a more neutral term for this policy.
But does it work?
It’s a very complex topic, but according to a study in the Harvard Business Review, large corporations are not using the extra money to invest in American jobs. As the author details, after WWII businesses largely followed a retain-and-reinvest approach in that they would use extra income to invest in their workers through “higher incomes and greater job security.” But, the author continues:
“This pattern began to break down in the late 1970s, giving way to a downsize-and-distribute regime of reducing costs and then distributing the freed-up cash to financial interests, particularly shareholders. By favoring value extraction over value creation, this approach has contributed to employment instability and income inequality.”
Which is to say, businesses are increasingly using the extra money to pay CEOs million-dollar salaries and to pump up their own stock prices instead of creating jobs or giving their employees raises.
But I keep hearing that we have the “highest corporate tax rates” in the world?
Our official corporate tax rate of 35 percent is the highest in the world. But it’s very rare that corporations actually pay the full rate, for the reasons outlined above. There’s something called the “effective tax rate,” which is the net rate a taxpayer pays if all forms of taxes are included and divided by taxable income. In other words, it’s a more accurate reflection of a company’s tax liabilities. The nonpartisan Government Accountability Office found that the most profitable corporations paid only an average 13% in federal income taxes in 2010. That puts the U.S. well below most developed countries:
U.S. well below most developed countries
Check out this study from the Cato Institute, a libertarian think-tank founded by Charles Koch, co-owner of Koch Industries. In it, the researchers conclude that “corporate welfare in the federal budget costs taxpayers almost $100 billion a year.”
Are there any other ways that government policies help big business?
Sadly, too many to count.
Any specific examples that Bernie is focused on?
Bernie speaks out against all types for corporate welfare, but he finds the government subsidies given to the fossil fuel industry to be particularly egregious. Oil Change International finds that over $21 billion in production and exploration subsidies are given to oil, coal and gas companies each year. Bernie introduced legislation to end this which would save taxpayers over $135 billion over ten years. You can read more about Bernie’s energy policy at our Climate Change and Energy Policy issue pages.
Any other specific issues that Bernie is focused on?
One of Bernie’s biggest issues is the Export-Import Bank. He’s been fighting against it for years. Here he is back in 2002:
What is the Export-Import Bank?
It provides subsidized financing to American businesses doing business overseas. Head over to Vox to read a thorough explanation.
Done. So what’s wrong with supporting American businesses?
Bernie believes in supporting the business community, particularly American small businesses. What he objects to is taxpayers subsidizing large multinational corporations while they ship American jobs overseas. As Bernie argues in the above video, the Export-Import Bank’s track record isn’t great. Year after year, the vast majority of benefits have gone to a few large corporations. For example, in 2013, nearly one-third of all its financing went to Boeing.
Then why do President Obama and other Democrats support it?
Because there are still many small businesses that rely on the Export-Import Bank for much needed financing. So it is both a form of corporate welfare and a tool for supporting small business. Many Democrats used to side with Bernie on this, including President Obama. Before he was elected president, Obama referred to it as a “fund for corporate welfare.”
Sounds complicated. So what does Bernie propose we do about it?
In 2001, then Representative Sanders introduced an amendment for the reauthorization of the Export-Import Bank to discontinue subsidizing business that shipped American jobs overseas. This would have ensured it remained in place for small businesses but did not continue to subsidize multinational corporations that relocate jobs to other countries. Nearly 15 years later in June 2015, Bernie said:
“Instead of providing low-interest loans to multinational companies that are shipping jobs to China and other low-wage countries, we should be investing in small businesses and worker-owned enterprises that want to create jobs in the United States of America. If the Export-Import Bank cannot be reformed to become a vehicle for real job creation in the United States, it should be eliminated.”
So how do tax reform advocacy groups feel about Bernie?
This is from Citizens for Tax Justice:
“Senator and now presidential candidate Bernie Sanders has one of the strongest records of any elected official when it comes to standing up for tax fairness. In many cases, Sen. Sanders has been the lone voice in the Senate fighting for legislation that would ensure that corporations and the wealthy pay their fair share.”
What else?
Well, have you ever heard of “corporate welfare?” That’s when businesses fail to pay their workers a living wage — exploiting the super-low federal minimum wage of $7.25 per hour — forcing their workers to depend on social services paid for by middle-class taxpayers. Bernie has called this “Welfare for Walmart.”
What does “Welfare for Walmart” refer to?
It’s a reference to the fact that the retail behemoth Walmart costs taxpayers $6.2 billion each year in food stamps, health care costs, and other government programs because it pays the vast majority of its employees so little that they require public assistance to survive. Important to note is the Walton family, Walmart’s largest shareholders, is the wealthiest family in America, estimated to be worth $148.8 billion or more than 49 million American families’ net worths combined.
Watch Bernie question a representative from the Manhattan Institute of Policy Research, a conservative American think-tank, on Walmart and the minimum wage in this 2014 hearing:
Appalled? Right. Now go read the Minimum Wage issue page to learn about Bernie’s proposal to more-than-double the federal minimum wage to $15.
Overturning Citizens United
Bernie wants to implement comprehensive campaign finance reform by passing a constitutional amendment to overturn Citizens United — a Supreme Court decision that allows corporations and the super-rich to spend unlimited money on election campaigns — and move toward public funding of elections.
Why does Bernie want comprehensive campaign finance reform?
Right now, wealthy corporations have enormous power to influence campaigns and elections. This gives them an outsized voice in lawmaking and policy — and stifles the voice of ordinary Americans.
Haven’t the wealthiest people always had more influence on our government?
Yes. That’s why Bernie has called for campaign finance reform for years. Here he is in 2002:
So, how will he overturn Citizens United and what does public funding of elections mean?
Glad you asked. Check out all the details at the Political Reform page.
Support Entrepreneurship and Small Businesses
Bernie has emphasized the importance of supporting America’s small businesses. He believes that our government favors multinational corporations and huge conglomerates in their quest for limitless profits — over innovation and domestic economic stability.
Specifically, how has Bernie supported small businesses?
In general, all policies that Bernie supports have the indirect purpose of helping small businesses to compete with large or international corporations. To name a few, in addition to policies mentioned above such as reforming the Export-Import Bank, Bernie supports efforts to raise the minimum wage, legalize and protect immigrant workers, and reform disastrous trade deals which only benefit multinational corporations.
Check out the Small Business issue page for specific policies geared towards boosting small businesses.
TLDR
Your love for sanders speaks volumes in regards to your overall stupidity and lack of general understanding of life.
Posting YouTube videos and copy/pasting material is totally legit ::)
What's it like being a cuckold?
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The tax code needs to be scrapped and redone... it's impossible to salvage 74,000 pages of pure and utter bullcrap, and why would we want to anyways?
I love how TA ignored my post then copy pasted some Bernie Sander bollox on tax havens.
Anyway, I know Trump says it, but I have seen it cogently argued in a book before (Business Adventures, Tales from Wall Street ... I think) that you should be able to list tax laws on one page. Obviously that is an oversimplification but I had to study tax laws once - it was akin to mining in the outpack with a pickaxe. The layers of taxes, and multitude of loopholes, evolved through political petitioning and opposition to taxes/ currying votes. Give it enough time and you get a several thousand page shitpiece that only Rainman could read.
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TA sure is generous with other people's money...
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TA sure is generous with other people's money...
What do you mean? ???
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What do you mean? ???
Guessing he means in realtion to the huge taxes paid by Apple and other corporations - compared to the minimal amount paid by some random who posts on a bodybuilding board and tells them how to conduct their tax affairs.
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What do you mean? ???
He's an obvious socialist. Socialists are very generous with other people's money...execpt their own.
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If corporations have to pay the US taxes, the cost of their products will go up to offset those tax dollars.
So the poor people who bitch about the tax shit will end up being the ones who technically pay
yes? no?