Glad I'm not the only one who thinks its an outrage that the world's most valuable company, with vast revenues and huge cash surpluses, is looking for ways to avoid paying federal taxes. A US Senate committee is going after Apple, with the chair, Carl Levin, saying the company created "ghost corporations" in Ireland to hide profits and cheat the US out of $9 billion.
Now, just for the record: What Apple is doing is probably legal. The federal tax code is, to put it mildly, all fucked up, and it allows US companies to get away with all sorts of gimmicks.
But remember: Somebody has to pay for all the debt that GW Bush racked up in his foolish wars, and all the other (much smaller) expenses that the federal government incurs. So if Apple hids $9 billion, then you and me -- or, as the late, great Jonathan Kwitny put it, "the millions of lathe operators, clerks, computer programmers, dirt farmers, druggists, and hod carriers who are harnessed collectively as the American taxpayer" -- have to make up the difference.
I'm glad Sen. Levin is on this.
Most Commented On
- The point is that you are merely borrowing your home - April 17, 2014
- Straight line thinkers like Greg think that money can only be - April 17, 2014
- Don't confuse Greg with basic facts. - April 17, 2014
- Greg, you're just mixing it up to dry and deflect from being - April 17, 2014
- Greg, we don't live in Mexico and besides, you just said that - April 17, 2014
- Thank you Great Owologbo - April 17, 2014
- Vacancy control and new rent - April 17, 2014
- For sure, I picked up 3 - April 17, 2014
- Home (noun) : a house, - April 17, 2014
- Who cares after every bust - April 17, 2014